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Thursday, December 1, 2022

CTG ‘ll be Nigeria’s goldmine – Stakeholders

By Francis Akinnodi

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Stakeholders have called on the Federal and state governments to reposition the Cotton, Textile and Garment (CTG) sector to enable it contribute to the economic development of Nigeria.

They made this known while speaking with The Hope on the topic “Repositioning the CTG sector as the engine of growth for the Nigerian economy.”

An Economist, Elder Fessy Olabode said if properly repositioned, the CTG value chain would be a potential ‘gold mine’ for the country.

Olabode explained that the sector, if revitalised, could attract Foreign Direct Investment (FDI) for massive industrialization of the country.

According to him, the CTG Value Chain has been a vital and vibrant part of the Nigerian Economy in the 1980s and early 1990s.

He added that the sector was a major employer of labour, second only to government that contributed to the nation’s GDP and the foreign exchange earnings of the country at that time.

He said due to some number of factors, the whole sector was currently in a state of near-total collapse, which requires urgent attention.

Chairman, Ondo State Agricultural Commodities Association (OSACA), Gbanga Obaweya said there must be sincerity and strong political will by the government to revive the sector.

“No industry would survive let alone flourish without government putting the right policies and support infrastructure in place.

“Supporting the production of cotton, that is, cotton farming and liberalizing the import of modern textile machinery is the second step.”

He said that a multi-faceted action plan, including reducing the cost of power and energy, cutting bureaucratic bottlenecks, providing critical and strategic infrastructure to support industry growth, among others.

Also, Ondo State Chairman, Nigeria Association of Small Scale Industrialists (NASSI), Greatsheyi Akintunde said that all hands must be on deck to revive the CTG sector in the country.

“Before late 90s, cotton was grown in abundance in Nigeria and cotton Lents sold to the textile industries to produce garments that flooded our markets and those of African countries.

“The CTG sector then was the second largest employer of labour after the Federal Government. However, this same cannot be told about the CTG sector today.”

He added that for industrialisation and rapid employment to be achieved, deliberate efforts must be made to revive the sector.

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