Revival Of CTG Sector Will Drive Industrial Growth, Says BOI
The federal government has begun a strategic revival of Nigeria’s Cotton, Textile, and Garment (CTG) sector, with the Bank of Industry taking concrete steps to unlock targeted funding support to drive the process.
The initiative kicked off on Tuesday with an inspection tour of key textile sites in Kaduna State by the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh.
The tour forms part of the President Bola Tinubu-led administration’s industrial recovery plan under Agenda 7, which prioritises job creation, inclusive economic growth, and sustainable industrial development.
Speaking during the tour, the Managing Director/Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, said the economic revitalisation effort of the federal government presents a major opportunity to stimulate job creation, especially in the Cotton, Garments, and Textiles sector.
“This revitalisation is about improving lives across different sectors,” Olusi said. “It holds significant potential for job creation not just within the factories, but across the value chain, including our basic cotton farmers and even in protein production zones.”
He stated that the renewed attention to the CTG sector is a deliberate move to restore economic health and investor confidence in Nigeria’s industrial ecosystem.
He added, “Our goal is to create hope and renew interest in a sector that was once a major employer of labour. It’s a crucial step toward rebuilding the economy.”
Olusi said the Bank of Industry would continue to work with the Ministry of Industry, Trade and Investment and other stakeholders to improve funding access and unlock the sector’s full export potential.
According to Olusi, the government’s plan is not merely about reviving factories but also to build a stronger, sustainable industrial base.
“We see this as more than a factory revival. It’s an economic strategy. It aligns with our broader mission to transform Nigeria’s industrial future with real impact on households and communities,” he added.
The minister, during the tour of the United Nigeria Textiles Limited (UNTL), described the factory’s revival as a litmus test for broader industrial renewal.
He said the Tinubu administration is committed to repositioning the CTG industry as a backbone of inclusive growth.
He attributed the decline of UNTL to uncontrolled imports, smuggling, and lack of copyright protection, which allowed substandard products to flood the market.
The minister stressed the potential economic impact if UNTL could be revived, advocating for government intervention to address challenges and obstacles to production.
He highlighted the necessity of labor-intensive industries like manufacturing and agriculture for job creation in a country of 200 million people, arguing that services are important but insufficient for creating jobs on the scale needed for a nation such as Nigeria.
Enoh, who also toured Chellco Industries, one of the few legacy textile manufacturers still operating since 1980, commended the company’s resilience and steady contribution to employment, noting its current workforce of over 290.
The Chairman of UNTL and Emir of Kano, His Royal Highness Sanusi Lamido Sanusi, expressed concern over the closure of the plant in 2022, which he said once employed over 10,000 people across the value chain.
He cited power supply issues, smuggling of foreign textiles, poor procurement support, and dumping as major threats.
He warned that the factory’s collapse has worsened youth unemployment and regional insecurity.
Other stakeholders who spoke at the event said with coordinated support from institutions like BoI, Nigeria’s textile industry could soon experience a long-overdue resurgence.
This resurgence, they noted, will drive jobs, expand exports, and restore Nigeria’s reputation as a leader in African manufacturing.
ENDS
Revival Of CTG Sector Will Drive Industrial Growth, Says BOI is first published on The Whistler Newspaper
