CBN gov sets up panel to revive 50 textile firms

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The Central Bank of Nigeria is targeting to revive at least 20 textile companies before the end of the 2019 fiscal period.

The move is contained in the technical cooperation proposal for revamping the cotton, garment and textile sector in Nigeria.

The committee would also facilitate the production of 200,000 hectares of cotton fields by 2020 and maintain an annual increase of 100,000 hectares over the next three years. He gave the key challenges affecting the CTG sector to include low cotton production, poor power and transport infrastructure, obsolete production lines, smuggling and counterfeiting, inadequate local patronage, high cost of production, and multiple taxation , among others.

 

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Naso!

We’re always chasing our past. That attention would be better used on the software development community. Thats the future, and it has relatively less dependence on NEPA

Immediately I saw the number 5, I thought he set up a panel to find a certain 500billion 🚶🏽‍♂️🚶🏽‍♂️🚶🏽‍♂️ Sorry I just couldn’t help it 🤓

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