The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development Board (CTGDB) to regulate activities in the sector.
The CTGDB would be domiciled in the Presidency and funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).
The NEC also approved new strategies for agribusiness expansion and livestock transformation projected to generate up to $90 billion in economic value by 2035.
The NEC meeting was chaired by Vice President Kashim Shettima, and was attended by governors of the 36 states of the federation.
The meeting also approved the establishment of the Green Imperative Project (GIP) to address the crises fuelled by the current system of animal husbandry in the country.
A press statement that was issued by Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Mr. Stanley Nkwocha, said that the establishment of a CTGDB aligned with the economic revival agenda of President Bola Ahmed Tinubu.
Shettima said: “Nigeria is a nation where cotton can thrive in 34 states. Yet our production level remains a fraction of our potential.
“We currently produce only 13,000 metric tons, while we continue to import textiles worth hundreds of millions of dollars. This is not just an economic imbalance. It is an invitation to act,” he added.
“Our goal is not just regulation. It is a revival. This is our opportunity to re-industrialise, to empower communities, and to restore pride in local production.”
He also announced that the NEC has approved the establishment of the Green Imperative Project (GIP) national office in Abuja and regional offices across the six geopolitical zones, as well as the request for support for the formal launch of the National Agribusiness Policy Mechanism.
According to Shettima, “we are building a national food economy that is inclusive, efficient and sustainable,” he noted.
Other highlights of the NEC meeting included the Federal Ministry of Livestock Development’s (FMLD) presentation on “Nigeria Livestock Growth Acceleration Strategy,” which is built on the National Livestock Transformation Plan (NLTP) (2018 – 2028) that is focused on modernising Nigeria’s livestock sector, with an emphasis on cattle ranching and peace building.
The presentation projected that the strategy would build a $90 billion sector by 2035 in direct partnership between states, the private sector and foreign investors under a sound federal regulatory umbrella.
The ministry said that investments in the programme between 2025 and 2026 would prioritise Animal Health and Zoonoses Control, Feed and Fodder Development, and Water Resources Management.
Others are on Statistics & Information Systems and Breed Improvement initiatives as essential components of comprehensive Livestock Value Chain Development across the country.
