The National Cotton Association of Nigeria (NACOTAN) has declared that its partnership with the Central Bank of Nigeria (CBN) is to aid the Federal Government’s attempt in reviving the Cotton Textile and Garment (CTG) Sector.
The President of the Association, Anibe Achimugu, stated during an interview session with the newsmen in Abuja recently and added that the Group is happy seeing the Federal Government’s efforts in bringing back the old glory days of the CTG Sector.
Achimugu further said that the impact of the Sector on the growth of the Gross Domestic Product (GDP) is remarkable. It has already led the Association to introduce the use of modern technology to aid in data variable generation.
NIRSAL Unlocks N10B Agriculture Finance from Union Bank
According to Achimugu, the Association’s plan includes ensuring that farmers are well enlightened on climate change, acquire new seed planting pattern, know the use of the recommended inputs, and to ensure that extension service remains credible enough to assist the farmers in the times of need.
Furthermore, he said that the Group will persuade both women and youth to participate in cotton farming to boost the capacity base from 151,000 to 300,000 cotton for farmers.
Recapitalization Challenges with the BOA
Recall that President Buhari, during the 31st Annual National Conference of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), had mandated CBN and the Industrial Training Fund (ITF) to fund the training of the NUTGTWN members, to support the Executive Order 003.
Buhari had stated that the current 40,000 garment and textile workers must be trained over and over again because NUTGTWN has the potentials to change the Nation’s rural economy, revive this Sector with the establishment of industries, and also to create more than 2 million jobs for the unemployed.
