By Sunny A. David, Awka
Nigeria’s National Economic Council (NEC) has approved the establishment of a Textile and Garment Development Board with national and regional offices.
This crucial step, taken at the 149th NEC meeting, aims to revitalize the sector and combat insecurity.
The board, funded by import levies on textiles, will be chaired by a private-sector representative.
The council also endorsed a public-private partnership proposal to ensure its efficient operation.
Regional offices will be located in each of the country’s six geopolitical zones to facilitate better coordination and management.
The NEC also approved the establishment of the Green Imperative Project (GIP) with national and regional offices, along with measures to address the challenges of current livestock practices.
These initiatives, alongside the textile board, are projected to generate $90 billion in economic value by 2035 through agribusiness expansion and livestock transformation.
This comprehensive approach seeks to reposition the Nigerian economy and address its root causes of insecurity.
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