The Cotton, Textile and Garment Development Board has been authorized by the National Economic Council, NEC.
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During a briefing with State House Correspondents following Thursday’s 149th NEC meeting, which was chaired by Vice President Kashim Shettima at Presidential Villa in Abuja, Governor Hope Uzodima of Imo State made the statement.
He went on to say that the council had authorized a Public-Private Partnership plan so that the board could operate more efficiently.
According to Uzodima, the board will be financed from textile import fees, and the chairman will be chosen from the private sector.
Members and leaders of the Cotton, Textile and Garment Development Forum were among those who presented before the National Economic Council.
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Their presentation focused on their plan to revitalize Nigeria’s cotton industry, and they are private sector operators in the cotton, garment, and textile industries.
“The presentation was approved by the Council, and in order to ensure proper coordination, the board will be establishing national and regional offices in each of the six geopolitical zones,” Uzodima stated.
The governor of Bayelsa, Douye Diri, also mentioned that the minister of livestock development had presented a plan to speed up the cattle industry to the council.
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According to him, the presentation was about a strategy to revamp the livestock industry from 2025 to 2030. He said it was based on the national livestock growth and acceleration plan, which aims to revamp the industry so that it generates more domestic income, creates more jobs, and exports more products.
Up to ninety billion dollars in that industry is expected to be generated by the approach by 2035, according to the projections.
The state governors, private companies, and international investors will work together directly under the strong federal regulatory framework, according to Diri.
Between 2025 and 2026, he said, the investment would be prioritized into five main areas.
He listed the following as the foundational elements: management of water resources, improvement of livestock value chains, improvement of animal health and zone control, feed and further development, and statistics and information.