Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has disclosed that Federal Government secured $3.5 billion investments in the nations textile, cotton, and apparel sector in one year.
The minister stated this during the ministerial press briefing in Abuja on Tuesday.
According to her, the investment is part of the ministry’s initiative to rejuvenate the long-dormant textile industry.
Uzoka-Anite noted that Nigeria’s textile sector encompasses the complete clothing value chain in the country and investment in the textile industry will generate employment for both skilled and unskilled labour across Nigeria.
She further disclosed that the ministry is developing a resurgence plan for the Nigeria cotton, textile and apparel industry in partnership with development partners and private sector players.
The minister further said the industry is one of the top contributors to the manufacturing sector of the economy with huge potential for employment for both skilled and unskilled labour with extensive capacity for generating export earnings and attracting foreign direct investment, therefore reducing poverty.
