Abuja - Vice President Namadi Sambo commended operators in the textile industry for making the most of the Cotton Textile and Garment
(CTG) fund to reviving the ailing sector.
Sambo expressed delight the fund had culminated in the reduction of unemployment rate and noted that employment opportunities have increased over the years after years of sharp decline.
He pledged the government’s commitment to the growth of the sector as evidenced by the CTG fund.
“Government has keen interest in the growth of the textile industries due to its capacity to employ large number of people, create wealth and improve the economy,” Sambo said after he received some textile industry chief executives led by Senator Walid Jibril, in Abuja.
He tasked the executives to find ways of producing cheaper and competitive goods without compromising quality. Sambo added that such ingenuity would help curb smuggling.
The textile executives meanwhile hailed the fund saying it was curbing unemployment, boosting the income of the Nigerian cotton farmers, reviving closed textile mills and modernizing equipment and textile mills to improve quality and efficiency.
The fund had also assisted initiatives to expand equipment, increase foreign exchange earnings through non-oil exports and the promotion and branding of “Made in Nigeria” textiles through retailing, among other benefits.
There had been an increase of active textile mills from 25 active mills in 2009 to 32 mills in 2012.
– CAJ News