Textile Indusdtry: 2 Million Jobs Coming As CBN Plans N100bn Funding - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 30, 2019
The Central Bank of Nigeria, CBNGovernor Godwin Emefiele has said that the Apex Bank is looking at injecting100 billion naira as its intervention in the Cotton, Textile and Garment valuechain.
The Bankers’ bank has alreadydistributed about 50 billion naira to the cotton and ginning components.
Also President Muhammadu Buhari hadon Wednesday directed the Central Bank to inject money into the sector for thelocal production of textiles and garments
The President said the cotton,textile and garment sector had the capacity to transform Nigeria’s economy andrefine the sector to bring about an industry capable of creating more than twomillion jobs.
Emefiele spoke after the signing ofa Memorandum of Understanding MoU between the National Cotton Association ofNigeria, Ginning Companies and Nigerian Textile Manufacturers Association andArmed Forces of Nigeria, Nigeria Police, Paramilitary Institutions &National Youth Service Corps also in Abuja.