Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo has expressed the determination of the Federal Government to address the challenges facing the cotton industry with a view to creating jobs for youths in the country.
The Minister who made this known while addressing a delegation of the National Cotton Association of Nigeria, NACOTA who paid him a visit in Abuja.
He noted the cotton industry has the capacity to transform Nigeria’s rural economy and revive the textile and garment industries by creating over 2 million jobs, improve internal revenue across three tiers of government, reduce $4.0 billion import bill incurred annually on textile and apparel, earn foreign exchange and make Nigeria a global player in textile and apparel.
According to him, “In the 1970’s and early 1980’s, Nigeria was home to Africa’s largest textile industry, with over 180 textile mills which employed close to over 450,000 people and contributed over 25% of the workforce in the manufacturing sector. Today, most of those factories have all stopped operations, textile factories are operating at below 20% capacity with a workforce of less than 20,000 people”
“They are cultivating over 180,000 hectares of cotton that will feed our ginneries. Production is also ongoing across many states with more to come onboard in the next planting seasons.” Mr Adebayo said.
President of NACOTAN, Mr Anibe Achimugu called on the Federal Government to revamp the cotton industry to provide jobs for the teeming unemployed Nigerian youths.
He stressed that if the sector is revived it would not only help to take youths off the streets and help to address youth restiveness, banditry, drug abuse and emigration issues.
Mr Achimugu noted that the industry is the second largest employer of labour in the country and deserved the attention of the Federal Government to enable the industry contribute its quota to the economic development of the country.
He called on the Minister to prevail on the Bank of Industry and Leasing Company of Nigeria for special intervention for the cotton industry.
He also sought the support of the Minister for the payment of Nigeria’s assessment to the International Cotton Advisory Committee (ICAC) for the periods of 2020-2021 and 2021-2022, which he put at $58,500.
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