Minister of Industry, Trade and Investment, Doris Uzoka-Anite has said the Federal Government has secured $3.5 billion in investments to enhance Nigeria’s textile, cotton, and apparel sector in Nigeria in one year.
Gatekeepers News reports that Uzoka-Anite made this disclosure during the ministerial press briefing in Abuja on Tuesday.
She said this investment is part of the ministry’s initiative to rejuvenate the long-dormant textile industry.
She also noted that Nigeria’s textile sector encompasses the complete clothing value chain in the country.
According to the minister, investment in the textile industry will generate employment for both skilled and unskilled labour across Nigeria.
“The Ministry is developing a resurgence plan for the Nigeria cotton, textile and apparel industry in partnership with development partners and private sector players. We have attracted $3.5 billion to unlock the textile, cotton and apparel industry.
“As you know, Nigeria’s textile and apparel industry covers the entire clothing value chain and has a strong potential for growth due to the availability of cotton and the country’s market size.
“This industry is one of the top contributors to the manufacturing sector of the economy with huge potential for employment for both skilled and unskilled labour with extensive capacity for generating export earnings and attracting foreign direct investment, therefore reducing poverty,” Uzoka-Anite added.
