James Emejo in Abuja
The Central Bank of Nigeria’s (CBN) efforts to resuscitate the country’s moribund cotton, textile and garment (CTG) industry has reached a climax with the recent signing of two memoranda of
The
first Memorandum of Understanding (MoU) between the National Cotton
Association of Nigeria (NACOTAN) and ginning companies, seeks to
guarantee steady off-take and processing of cotton lint and cotton seeds
while the agreement between the Nigerian Textile Manufacturers
Association and the armed forces, police, paramilitary Institutions and
the National Youth Service Corps (NYSC) was to facilitate long-term
contracts (five years or more) with textile and garment companies to
manufacture uniforms in the country for use by various arms of Nigeria’s
uniform services.
CBN
Governor, Mr. Godwin Emefiele, said MOU signing sets a significant
milestone for enforcement of President Muhammadu Buhari’s Executive
Order 003 as well as foster closer business collaboration among the
stakeholders on a sustainable basis.
He said
the ceremony further represented a landmark event as part of the
measures the apex bank along with other stakeholders including NACOTAN,
Nigerian Ginners Association, Nigerian Textile Manufacturers and
Garments Association, armed forces and uniformed services, had embarked
upon in order to revive the sector through ensuring local sourcing of
all uniformed services and hospital theatre wears.
Speaking
at the signing ceremony at Abuja, Emefiele noted that before the advent
of the current administration, the Nigerian cotton, textiles and
garment sector had faced difficult challenges resulting not only in the
closure of over 150 textiles firms but also loss of over two million
jobs in the 1990s beginning from the cotton farmers, to the ginneries
and textile firms.
He said
the collapse of the textile industry had also led to loss of jobs as the
current workforce stood at less than 20,000 people from about two
million in the boom years.
The CBN
boss said farmers and processors had to deal with low quality seeds,
rising operating costs and weak sales due to high energy cost of running
factories, smuggling of textile goods, and poor access to finance.
Meanwhile,
the signing of the agreements towards the industrialisation of the
economy came amidst commendations from state executive governors,
including Kaduna State Governor, Mallam Nasir El- rufai, Governor of
Cross River, Senator Ben Ayade, Gombe State Governor, Inuwa Yahaya, and
Deputy Governor of Katsina State- over Emefiele’s dogged commitment
towards the diversification of the economy.
Pledging
loyalty and their readiness to patronise local manufacturers, Chief of
Air Staff, Air Marshal Sadique Abubakar said the CBN initiative was
highly commendable as it would enhance easy access to uniforms and
enhance the country’s development aspirations.
The
Chief of Defence Staff, who was represented by Maj.Gen. A.O. Sokeye,
also vowed that all members of the armed forces would support the
central bank’s drive to boost the sector, adding that going forward, all
its uniforms would be sourced locally.
Also, representatives of the Chief of Army Staff and Chief of Naval Staff, expressed their support for the initiative.
Also
present at the occasion was the Minister of the Interior, Mr. Rauf
Aregbesola, who said every effort aimed at preserving the country’s
foreign reserves should be commended, adding that the CBN initiative
presented a unique opportunity to rally round and safe the country from
the brinks.
He added
that the situation represented a clarion call to patronise local
products, adding that “I stand in firm solidarity” towards the
objective.
On his
part, Yahaya, who said the country was fed up with foreign products also
alluded to the fact that the current spate of insecurity in the country
had a direct correlation to the collapse of the textile industry.
According to him, the Kaduna crisis was an aftermath of the collapse of textile companies in the state.
He said
through the noble efforts, Emefiele was on the right path of helping
Buhari actualise his promise to lift 100 million Nigerians out of
poverty.
On his
part, Ayade, using China as an example, said it was high time the
country isolated itself from the rest of the world and chart its path
towards self sufficiency.
He said the country’s over 200 million population and its overreliance on oil for decades had led to banditry and insurgency.
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