Federal Government in collaboration with International Cotton Advisory Committee (ICAC) has begun plans to create 1.4 million jobs by resuscitating cotton/textile industries in the nation.
Gatekeepers News reports that Shettima revealed this after he had a meeting with a delegation from ICAC led by its Executive Director, Mr Eric Trachtenberg, at Presidential Villa, Abuja on Tuesday.
Shettima while speaking after the remarks of ICAC delegation and other participants of the meeting, revealed that the focus was to develop key components of cotton value chain comprising farming, weaving, ginning, and linking of cotton, all in line with industrialisation drive of President Bola Ahmed Tinubu administration.
The Vice President urged stakeholders to come up with a roadmap for revitalization of cotton/textile sector in Nigeria, noting that it is time to put in the work.
He assured that Tinubu administration would make conscious efforts to ensure the country harnessed opportunities in cotton value chain, including ensuring that Nigeria regained its ICAC membership.
Shettima thanked the delegation for the visit and acknowledged ICAC’s commitment to the development of sector in Africa, adding that “Your diverse backgrounds in ICAC gives a nuance understanding of the complexities and opportunities in the cotton value chain.”
Earlier in his remarks, Lagos state Governor, Babajide Sanwo-Olu who was also present at the meeting, said his state was well positioned to harness opportunities in cotton value chain, given that it hosts factories, the market, and is a critical component of business ecosystem for cotton sub-sector.
He added that Lagos as an integral part of cotton value chain in Nigeria, would support every effort by stakeholders to revamp the sector to enable the state sustain its status as largest fashion hub in the continent.
Sanwo-Olu expressed excitement at possibility and opportunity for resuscitation of the cotton and textile sector with a particular focus on job creation and economic transformation.
The Governor further pledged the state’s readiness to offtake cotton produced in other parts of the country for companies based within the area.
Another participant, Governor of Imo state, Hope Uzodinma asserted that the meeting with delegation from ICAC was the beginning of Nigeria’s quest to revamp textile industry as part of broad objective for industrialising the economy.
He noted that Imo State and Southeastern region are in support of renewed effort to revamp cotton/textile sector as it aims to create jobs for the people and the overall industrialization drive of the country.
Uzodinma said, “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.”
The executive Director of ICAC in his remarks, said he was pleased with level of interest and commitment shown by leadership of the country and other stakeholders in reviving the industry in Nigeria.
He cited examples in China, India, Pakistan, and other parts of the world, noting that the potential in cotton value chain was huge and had proven to be transformative.
Trachtenberg added that cotton and textiles offered competitive advantage, and economic transformation and are very competitive products that could be sold, both domestically and internationally, with probability to generate high-quality jobs for now and in future.
He emphasised that ICAC would support Nigeria’s cotton value chain revamp by offering expert advice in improving productivity and boosting the value chain and investment facilitation.
