The Federal Government has reinstated its commitment towards revitalizing the Cotton, Garment and Textile industries, aimed at creating more employment and also grow the Nigerian economy.
The Minister of Agriculture and Rural Development, Alhaji Mohammed Sabo Nanono, disclosed this when he received the Nigeria – Vietnam Chambers of Commerce and Industry (NVCI) delegation, led by the Chairman, Mr. Oye Akinsemoyin, in his office in Abuja.
Alhaji Sabo Nanono stressed the need to revitalize the textile industry, adding that, textile and garment are one of the three pillars that are very crucial to the development of this country and would reduce the issue of unemployment substantially because of its nature.
Nanono further stated that, the textile industry was capable of employing hundreds of thousands of people across the country, especially in Kano, Kaduna, Aba, Lagos, and some other key areas.
In his presentation, the President, Nigeria –Vietnam of Commerce and Industry (NVCI), Mr. Oye Akinsemoyin stressed that there is need for the Federal Government to focus on revitalizing the industry, in line with President Muhammad Buhari’s policy of economic diversification.
Akinsemoyin highlighted the success story of the Vietnam textile industry, stating that the country’s textile industry had grown over the years from the 60s and presently had churned out over 6,000 enterprises.
According to him, it had employed over 2.5 million Vietnamese and the annual growth rate was about 9.8 percent, also it is being estimated that in 2025, the sector would be attaining $55billion on export from garment and textile, adding that Nigeria could attain a similar feat if its industry is revitalized.
Okeh Juliet (Mrs.)
For: Director Information