Textile industry produced 10 million meters of yarn in 2020 ― Emefiele

Efforts by the Central Bank of Nigeria (CBN) to revive the textile sector have begun to bud success with the industry producing 10 million yearn materials in 2020 despite the COVID-19 pandemic and widespread insecurity.

At a stakeholder engagement for the resuscitation of the cotton, textile and garment (CTG) sector in Abuja, on Tuesday, CBN Governor, Mr Godwin Emefiele, also disclosed that the apex bank financed over 278,500 hectares in 2019 and 2020 with over 90,000 metric tons of cotton seed harvested.

In addition, nine ginneries were brought back to life and ginned cotton all year round for the first time in 10 years.; over 620,000 direct and indirect jobs created in two years; while the industry capacity of the ginneries increased from an average of 19 per cent to 51 per cent.

Emefiele told the audience that the textile sector got 100 per cent of their major raw material (cotton lint) at a CBN-subsidized rate of N440,000 as against the market price of N593,000 and that uniformed Services have started patronizing made-in-Nigeria textiles for their uniform.

Between 2019 and 2020, Emefiele disclosed that a memorandum of understanding among critical stakeholders across the value chain, including cotton farmers, ginneries, textile and garment companies and end-users of cotton products and this has led to at least 5 agencies partnering with local textile manufacturers.

“For the 2021 wet season plans are currently underway with involvement of ginneries to integrate backwards by cultivating an average of 53,100 hectares with an estimated output of 106,200 Metric tons at two metric Tons per hectare.

“We are also working with existing prime anchors for 10,000 hectares of land with an estimated output of 20,000 Metric Tons,” he explained while adding that CBN will be working with associations to cultivate about 80,000 hectares of land with an average output of 120,000 Metric tons at 1.5 Metric Tons per hectare.

He reiterated that CBN remained committed to ensuring the successful implementation of the CTG programme across the country and will continue to dedicate appropriate resources to driving its implementation.

On his part, Secretary of Textile and Garment Manufacturers Association, Mr Folurunso Damiyan, appealed to the Nigeria Customs Service to step up its anti-smuggling efforts as he said textiles smuggling was killing local manufacturing companies.

Also at the event founder and Chief Responsibility Officer of Rough & Tumble, Mrs Adenike Ogunlusi, urged the government to patronise companies in the industry.

“We want all Nigerians to wear made in Nigeria. Give textiles tax holidays. The cost of production is very high in our country. We need a lot of infrastructures,” she said.

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CLAIM: A website claims that the Tertiary Education Trust Fund (TETFund) is offering Nigerian students N20,000 grant. This is being sent to unsuspecting students as a bulk SMS with the name Tetfund2021.Textile industry produced 10 million meters of yarn in 2020 ― Emefiele