Lawmaker commends FG plan to inject N51bn to garment, textile industry

by NAN

February 14, 2017 | 11:17 am
  |     |     |   Start Conversation
Ankara, Google

A member of Osun House of Assembly, Olatunbosun Oyintiloye, has described Federal Government plan to inject N51 billion to the resuscitation of garments and textile industry in the country as a step in the right direction.

He told the News Agency of Nigeria (NAN) in Osogbo on Tuesday that the plan, captured in the 2017 budget, was in line with policies to revamp the economy.

The lawmaker said that the money, when injected into the industry, would create more jobs, reduce unemployment and enhance productivity.

Oyintiloye, who is the House Committee Chairman on Information and Strategy, said  reviving the moribund garment industry in the country would also increase the use of locally made fabrics.

He added that the textile industry used to be one of the highest employer of labour in the past, noting that it was a sad development that the industry was allowed to degenerate.

He affirmed that with the proposed N51 billion in the 2017 budget to revive the industry, the diversification campaign of the government would enjoy a major leap.

Oyintiloye, however, urged the Federal Government to ensure prompt release of the money after the passage of the 2017 budget.

He said “to me, this is a right step in the right direction.

“If this money can be actually injected into the industry, it will reduce unemployment and promote patronage of locally-made fabrics.”

Aisha Abubakar, the Minister of State for Industry, Trade and Investment, at the opening session of a workshop organised by Bank of Industry in Abuja recently, said the ministry has about N51 billion in 2017 budget to promote the garment industry.

by NAN

February 14, 2017 | 11:17 am
  |     |     |   Start Conversation

Big Read |  


What Nigeria must do before signing AfCFTA

Nigeria’s President Muhammadu Buhari last Wednesday gave a hint that he would sign the African Continental Free Trade Area (AfCFTA)...

Top 100 (300 x250)

MTN Felele


Newsletter Economic view