FG targets N504bn annually from textile exports The Federal Government on Tuesday in Abuja inaugurated the National Cotton, Textile and Garment Policy with a target to achieve $3bn (N504bn) annually from textile exports. The policy is also expected to raise seed cotton production from 200,000 metric tonnes in 2003 to about 500,000 MT by the end of this year. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, while speaking during the inauguration of the policy, said that the move was a game-changer that would help to reposition the textile sector He explained that the Federal Government decided to formulate the policy so as to boost the contribution of the sector to the county’s Gross Domestic Product by increasing the current employment level in the sector from 24,000 to 100,000 by 2017. He said, “This is the first time we will have a compressive policy, which cuts across the entire value chain. It is not just about textile and cotton, it cuts across the entire value chain. It is called: ‘From farm to fashion’. “The policy will address barriers to increased productivity. We need enablers that will make you competitive globally, not just in Africa. This policy provides for a task force that will deal with smuggling and counterfeiting. “This time around, we are determined to address the issue of smuggling and counterfeiting. The policy also addresses the issue of skill development. We must turn our quantity to quality. It also addresses the issue of affordable finance, electricity, standards and local patronage.” In order to demonstrate the commitment of government to the implementation of the textile policy, Aganga maintained that all military and paramilitary organisations and government schools would be compelled to purchase only made-in-Nigeria textiles and garments. Also speaking at the event, the President, Manufacturers Association of Nigeria, Mr. Frank Jacobs, described the inauguration of the textile document as yet another milestone in the implementation of the Nigerian Industrial Revolution Plan. While declaring the support of MAN for the implementation of the policy, Jacobs said the document would help to unlock the potential of that sector for the economy. Copyright PUNCH.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: editor@punchng ift.tt/1GrpGNO ift.tt/1t4doOf [[Boost your social presence with NAIRALIKES nairalikes ]] #nigeria x #nairalikes #vanguardng
Posted on: Tue, 20 Jan 2015 23:12:16 +0000
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