Revolution In Nigeria’s Economy Foreseen With Rise Of Cotton And Textile Industries

Stakeholders in Nigeria’s cotton and textile industries have expressed optimisms over the gains awaiting the nation’s socioeconomic terrains with the planned revival of the industries by the federal government.

The stakeholders, including governors, industry players and international partners, who attended a meeting of the International Cotton Advisory Committee (ICAC), hosted on Tuesday by Vice President Kashim Shettima in his office at the State House, Abuja, saw the plans bringing in more jobs, other economic advantages and an improved security.

Governor Hope Uzodinma of Imo State, who spoke to journalists after the meeting expressed excitement about the potential of the cotton industry to revamp Nigeria’s economy and highlighted the opportunity for Nigeria to leverage international partnerships, expertise, and innovations to revamp its moribund cotton and textile industries.

Describing the ICAC as “the United Nations of cotton manufacturing”, Governor Uzodinma emphasized the potential for job creation, employment, and engagement of young people, saying “this is a new opportunity that will create jobs, employment, and engage our young men and women roaming the streets”.

The governor reminisced about the past glory of Nigeria’s textile industry, citing the numerous textile industries in Lagos’ Isolo area and Kaduna’s reputation as a center for cotton production and textile mills.

He stressed the need to stimulate the economy, create jobs, redefine Nigeria, and align with the new digital age for production and economic stimulation.

Also speaking to journalists after the meeting, Governor Babajide Sanwo-Olu of Lagos State emphasized the need for Nigerians to patronize locally produced cotton, rather than relying on foreign imports.

He explained that many Nigerian garment manufacturers use polyester instead of cotton, due to its lower cost, he however highlighted the potential for Nigeria to produce high-grade cotton and reduce reliance on imports.

Governor Sanwo-Olu emphasized the importance of examining the entire value chain and promoting local production and consumption, citing statistics that showed that the cotton industry once employed 15-18 million Nigerians, and expressed hope that reviving the industry could create millions of jobs in the next few years.

He welcomed the support of the ICAC, which he described as the “United Nations equivalent of the cotton industry”, and praised Vice President Kashim Shettima for his commitment to the industry’s revival.

The Comptroller-General of the Nigerian Customs Service, Adewale Adeniyi, who was also part of the meeting, pledged to tackle smuggling and support the revival of the textile industry in Nigeria.

Adeniyi acknowledged that smuggling has hindered the industry’s development, but noted that other challenges like yield, power, and investments also need to be addressed.

He stated that the Customs Service has been given a “marching order” to play its role in reviving the industry, focusing on policy formulation and implementation.

Adeniyi identified policy as a major factor that “killed” the textile industry, but expressed commitment to revisiting and reforming policies to support the industry’s recovery.

He assured that the Customs Service will do everything possible to protect the industry, affirming its commitment to supporting Nigeria’s economic recovery through the textile sector.

The Executive Director of the International Cotton Advisory Committee (ICAC), Eric Trachtenberg, expressed excitement about the prospects of Nigeria’s cotton industry, citing a “compelling historical moment” for growth and development.

He noted that Nigeria has low-cost labor, market access to the African Growth and Opportunity Act (AGOA) and Economic Partnership Agreements with the EU, and a talented workforce.

Trachtenberg emphasized that ICAC is committed to supporting Nigeria in achieving its goals, creating quality jobs, generating foreign exchange, and re-imagining the global cotton economy.

He highlighted the potential for Nigeria to become a major player in the global cotton industry, given its favorable conditions and forward-leaning government officials.

Also speaking, the Director-General of the Nigerian Textile Manufacturers Association, Hamma Kwajaffa, expressed optimism about the revival of the textile industry, predicting a surge in employment and a reduction in security problems.

Kwajaffa said the association is happy to see the revival of the textile industry, which will lead to increased employment opportunities and a decrease in protests.

He emphasized that the focus is not on funding, but on ensuring a conducive environment for cotton production, citing the need for scientific expertise to achieve high yields.

Kwajaffa noted that many textile mills have closed due to lack of raw materials and smuggling, but expressed confidence that the industry will bounce back, with about 70 textile mills expected to reopen, up from the current 24.

He predicted a return to the “booming days” of the textile industry, which once had 200 mills operating in the country.