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Hopes for Nigeria’s industrial and agricultural resurgence have been ignited following the National Economic Council’s (NEC) approval of the establishment of the Cotton, Textile, and Garment (CTG) Development Board, alongside a substantial N90 billion agribusiness and livestock development plan. The landmark decisions, made recently at a meeting presided over by Vice President Kashim Shettima, had been hailed as bold and strategic moves by key industry players.
Ms. Ololade Majekodunmi, the National Coordinator of the Nigerian Cotton Cooperative Society and Managing Director of House of Dorcas Integrated Services (HDI), lauded the twin initiatives in a statement on behalf of the Cotton Cooperative Society. She emphasised that the decisions signal a robust commitment from the Federal Government to revitalise crucial industrial sectors and drive economic diversification under its Renewed Hope Agenda.
Majekodunmi explained that the CTG Development Board would serve as the central coordinating body for the entire cotton-to-garment value chain in Nigeria. Its key functions will include fostering investments, harmonising policies, and enhancing collaboration among stakeholders. The ultimate aim is to restore the sector’s historical significance in generating employment and boosting export growth.
In parallel, the approved N90 billion agribusiness and livestock plan is geared towards modernizing Nigeria’s livestock industry. The plan encompasses various crucial initiatives such as cattle ranching, the development of feed and fodder resources, breed improvement programs, and enhanced water resource management. Furthermore, the plan facilitates the transfer of 100 Billion Naira in previously approved funds to the newly established Federal Ministry of Livestock Development, aiming to accelerate these vital efforts.
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He stated that the NEC’s approval marks a transformative moment for Nigeria’s agro-industrial landscape. On behalf of the Nigerian Cotton Society, Chief Aneibi Achimugu, and the broader CTG Stakeholders’ community, she expressed profound appreciation to the Federal Government for this “visionary investment.”
She further emphasised that these initiatives represent a practical and impactful approach to rebuilding Nigeria’s economic foundation by strategically leveraging agriculture and manufacturing. The anticipated outcomes include significant job creation, enhanced food security, and the fostering of sustainable economic growth across the nation.
Majekodunmi concluded by asserting that the coordinated efforts were expected to stimulate rural development, substantially increase domestic production and ultimately position Nigeria as a competitive force in the global textile and livestock markets.
