The Federal Government of Nigeria is collaborating with the International Cotton Advisory Committee (ICAC) to resuscitate the country’s cotton and textile industry. Vice-President Kashim Shettima disclosed this after a meeting with a delegation from the ICAC, led by its Executive Director, Mr. Eric Trachtenberg, at the Presidential Villa, Abuja.
The Federal Government aims to create over 1.4 million jobs annually in the cotton and textile sector by developing key components of the cotton value chain, including farming, weaving, ginning, and linking cotton. This initiative aligns with the industrialization drive of President Bola Tinubu’s administration.
Shettima urged stakeholders to develop a roadmap for revitalizing the cotton/textile sector in Nigeria. He assured the delegation that the administration would make conscious efforts to harness opportunities in the cotton value chain, ensuring that Nigeria regains its ICAC membership.
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Shettima acknowledged ICAC’s commitment to the sector’s development in Africa, noting that the committee’s diverse backgrounds provide a nuanced understanding of the complexities and opportunities in its value chain.
Earlier, Lagos state governor, Babajide Sanwo-Olu said the state was well-positioned to harness opportunities in the cotton value chain. He stated that Lagos, as an integral part of the chain in Nigeria, would support efforts to revamp the sector, enabling the state to sustain its status as the largest fashion hub on the continent.
Sanwo-Olu lauded the federal government’s efforts to resuscitate the industry to create jobs and engender economic transformation, pledging Lagos State’s readiness to offtake cotton produced in other parts of the country for companies based within the area.
Imo state governor, Hope Uzodinma said the meeting was part of Nigeria’s quest to revamp the textile industry and improve economic growth. He mentioned that Imo State and the Southeastern region would participate in the cotton/textile sector to create jobs through the industrialization of the country.
“The opportunity created by the meeting is a new beginning in our quest for industrial recovery and creation of jobs for our teeming youths as well as an opportunity for a new partnership,” Uzodinma stated.
ICAC’s Executive Director, Trachtenberg, expressed his pleasure with the level of interest and commitment shown by the leadership of the country. He appreciated the efforts of other stakeholders in reviving the industry in Nigeria.
Citing examples from China, India, Pakistan, and other parts of the world, Trachtenberg highlighted the potential in the cotton value chain, noting that it has proven to be transformative. He emphasized that cotton and textile offer competitive advantages and economic transformation.
The ICAC will support Nigeria’s product value chain by offering expert advice on improving productivity, boosting the value chain, and facilitating investment.
