The President of the National Cotton Association of Nigeria, NACOTAN, Anibe Achimugu said the Nigeria texting sector is currently resuscitating as the value of exported cotton lint reached N29.9 billion ($64 million) as at November 2022.
He stated this yesterday at the 1st Nigeria International Cotton Summit and Expo 2023 in Abuja organised by the association in collaboration with the Federal Ministry of Industry, Trade and Investment with the theme “Revamping the Cotton Value Chain.”
He decried that the golden age of cotton and textile was truncated after Nigeria had discovered oil, which led to the closure of the popular Kaduna textile and other textile factories across the country.
He however noted the various interventions of the federal government especially the CBN.
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“The interventions of the CBN in the cotton and textile value chain are the reason why we are here today. These interventions have made it possible for us to increase production from 80,000 metric tons to 133,000 metric tons and also increase the number of factories in operation from seven to twenty-three.
Also, due to the impact of these interventions, our membership has increased from 67,000 in 2019 to 200,000 as of 2022 while the cotton value chain experienced an increase in export value from $31m in 2010 to $64m as at November 2022,” he said.
He added that the Executive Order 003 by President Muhammadu Buhari mandating the military to patronise local textiles in producing their uniforms is also a contributing factor to the growth of the cotton and textile sector.
He urged the federal government to collaborate with the private sector and other relevant agencies in driving the sector forward.
Earlier in his remarks, the Minister of Industry, Trade and Investment, Otunba Richard Adebayo, noted that 24 states are currently producing cotton in Nigeria with Katsina State taking the lead.
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