The Nigerian government has planned to re-implement Export Expansion Grants (EEG) in the textile industry, said Aisha Abubakar, minister of state, industry, trade and investment. However, EEG will be implemented differently this time compared to earlier years. This will yield better and effective results, and help in reviving the textile industry.
The federal government is also taking steps to solve the problem of gas supply which will help in the restoration of the textile industry in Nigeria, said Abubakar, according to Nigerian media reports.
Emphasis should be laid on improving the role of the textile industry in order to sustain the nation’s economy, said Abubakar at the North-west Regional Customer Forum. The forum was organised by the Bank of Industry (BoI), titled “The role of financial institutions in driving the industrial development of a nation: A – Z of accessing BoI’s credit facility.”
Abubakar also paid visit to the textile factories in Kano. She said measures will be taken to promote made-in-Nigeria products.
The stakeholders also play a crucial role in the achievement of the desired growth in the textile sector, according to Abubakar. Further, for the revival of nearly 70 projects in the Cotton Textile & Garment (CTG) value chain, loans have also been approved by the development finance institution. (RR)