The Federal Government, in partnership with the International Cotton Advisory Committee (ICAC), has launched an initiative to rejuvenate Nigeria’s cotton sector.
This ambitious plan aims to generate over 1.4 million jobs each year in the cotton and textile industry, focusing on essential elements of the cotton value chain, including cultivation, weaving, ginning, and distribution. This initiative aligns with President Bola Ahmed Tinubu’s broader industrialization agenda.
The announcement came after a meeting on Tuesday between Vice President Kashim Shettima and an ICAC delegation, led by Executive Director Mr. Eric Trachtenberg, at the Presidential Villa in Abuja. Following discussions with the ICAC representatives, Senator Shettima urged all stakeholders to devise a strategic roadmap for revitalizing Nigeria’s cotton and textile industry, emphasizing the need for action over discussion.
The Vice President committed to ensuring that Nigeria capitalizes on the opportunities presented by the cotton value chain, including reinstating Nigeria’s membership in the ICAC.
He expressed gratitude to the ICAC delegation for their visit and acknowledged their dedication to advancing the cotton sector across Africa, noting their diverse experiences would contribute valuable insights into the complexities and opportunities within the value chain.
Governor Babajide Sanwo-Olu of Lagos highlighted his state’s advantageous position to leverage opportunities in the cotton value chain, citing its factories and market presence as vital components of the cotton business ecosystem.
He reaffirmed Lagos’s commitment to supporting stakeholders in revitalizing the sector, aiming to maintain its status as Africa’s leading fashion hub. The Governor expressed enthusiasm about the potential job creation and economic transformation that could arise from revitalizing the cotton and textile sector, pledging the state’s readiness to purchase cotton from other regions for local companies.
Governor Hope Uzodinma of Imo State remarked that the meeting with the ICAC delegation marks the beginning of Nigeria’s journey to rejuvenate its textile industry, contributing to the overall goal of industrializing the economy.
He stated that Imo State and the Southeast region would participate actively in efforts to revitalize the cotton and textile sector to create jobs and support national industrial growth.
Mr. Trachtenberg expressed his satisfaction with the interest and commitment demonstrated by Nigeria’s leadership and stakeholders in restoring the industry. He cited successful examples from countries like China, India, and Pakistan, highlighting the significant potential of the cotton value chain to drive economic transformation.
He emphasized that cotton and textiles present a competitive advantage, with the capability to generate high-quality jobs both now and in the future. The ICAC is set to assist Nigeria in enhancing productivity, boosting the value chain, and facilitating investment.
