The Minister of State for Industry, Trade and Industry, John Enoh, yesterday said the federal government is partnering with the Bank of Industry (BoI) and other stakeholders to put an end to annual garment imports valued at about $4 billion.
The minister said the government will also work with critical financial institutions to facilitate access to finance and machinery for garment and textile businesses.
Speaking during an engagement with stakeholders in the Cotton, Textile and Garment (CTG) sector in Abuja, Enoh said the government is committed to not only reviving the comatose textile industry but also promoting Made-in-Nigeria goods.
The minister acknowledged the challenges posed by the infrastructural and financial gaps, pointing out that the recently launched Industrial Revolution Work Group (IRWG), which is tasked with exploring case-by-case interventions for reviving dormant industries will be crucial in addressing identified obstacles.
He said, “We must ask ourselves: do we prioritise cotton, textile, or garments? The reality is that garments stimulate the entire chain. Countries like Bangladesh, Myanmar, and Kenya started by importing textiles but built strong garment export markets that later justified investment in spinning, weaving, and cotton farming.”
