CTG and the Cotton Development Fund

CTG and the Cotton Development Fund
Photo by Ranurte- Ask Nigeria

Cotton production has decreased from 600 tonnes to 100 tonnes per year.

The Nigerian Cotton, Textile and Garment (CTG) sector has urged the government to implement the industry road map policy in order to revive the sector. The CTG sector is a key driver of economic growth and development in Nigeria, and the implementation of the road map policy will help to create jobs, spur investment and boost exports. The CTG sector is an important part of the Nigerian economy, and its revival is crucial for the country’s economic growth and development. The implementation of the road map policy will help to achieve this by creating jobs, spurring investment and increasing exports.

Anibe Achimugwu, president of the National Cotton Association of Nigeria (NACOTAN), has said that implementation of the new policy will also enhance relationships among various stakeholders. The new policy, which has been put in place by the Nigerian government, will help to improve the country’s cotton production and exports. President Anibe stated that the policy would help to bring about a more coordinated effort between the various stakeholders involved in the country’s cotton industry. He added that it would also help to improve relations between the different stakeholders. He said that the policy would help to improve the overall efficiency of the cotton industry in Nigeria.

Policy establishes a Cotton Development Fund.

At a one-day seminar in Abuja, stakeholders discussed the CTG policy. The seminar was organized by the Federal Ministry of Industry, Trade and Investment, in collaboration with the Cotton Association of Nigeria (CAN) and the Textile Manufacturers Association of Nigeria (TEMAN). The policy provides for the establishment of a Cotton Development Fund (CDF) to finance cotton production, ginning and spinning.

The event was a great success thanks to the hard work of the German cooperation agency Deutsche Zusammennarbett, the European Union (EU), and the Nigerian Ministry of Industry, Trade and Investment. These organizations worked tirelessly to ensure that the event went off without a hitch and that everyone involved had a great time. We are extremely grateful for their efforts and could not have done it without them.

Will create jobs and enhance the skills of Nigerians.

Other important stakeholders in the Nigerian cotton industry are the Cotton Producers and Merchant Association (COPMA), the Nigerian Textile Manufacturers Association (NTMA), and the Garment  and Accessories Manufacturers Association of Nigeria (GAMAN). These organizations represent the interests of different groups involved in the cotton industry, and work to promote and protect their members interests. COPMA is an association of smallholder cotton farmers in Nigeria, established in 2007. NTMA is an umbrella organization for all textile manufacturers in Nigeria, founded in 1967. GAMAN is a trade association for cotton ginners and merchants, founded in 2021.

The Central Bank of Nigeria’s plan to revive the cotton industry and attain self-sufficiency in production is an ambitious one that will create jobs and enhance the skills of Nigerians involved in every stage of cotton production. The plan was announced last year and is already starting to bear fruit. The benefits of the plan are many and varied, but perhaps the most important is that it will help to create a more stable and prosperous Nigeria.

Country is now reliant on cotton imports.

Since the early 1990s, the number of operational ginneries in Nigeria has decreased from 52 to 21, leading to a decrease in cotton production from 600 tons to 100 tons per year. This sharp decline in production is due to a number of factors, including the high cost of inputs, lack of access to credit, and poor infrastructure. As a result of this decrease in production, the Nigerian government has been forced to import large quantities of cotton in order to meet the needs of the local textile industry. The decrease in the number of operational ginneries has had a negative impact on the economy of Nigeria, as the country is now reliant on imports to meet its cotton needs.


Related Links

NTMA: Website

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Ask Nigeria
5 months ago

CTG and the Cotton Development Fund  – Cotton production has decreased from 600 tonnes to 100 tonnes per year. – Express your point of view.

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Member
5 months ago

The first step, is provision of the basic factors of production. These include machines, electricity to keep the machines going, water, money(grants, loans) among others. Nigerians should as well appreciate the little efforts of the government, whilst doing their bit to make the first step to success.
All hands must be on deck to see to an improved Nigerian réputation.