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Nigeria allocates N100bn to boost cotton output
Jan '12
The Federal Government of Nigeria has reserved a sum of 100 billion naira for providing credit facility to farmers to enhance cotton production in the country.

Senator Walid Jibrin, Chairman of Presidential Committee for Revival of Cotton Production, said the Government was concerned about reduced cotton production in the country, which has resulted in closure of several textile units.

He said the Committee visited some of the northern States to persuade more and more people to undertake cotton cultivation, as a study revealed that the textile industry, which previously employed around 30,000 workers, now only operates with 24,000 workers.

Senator Jibrin convened a meeting with cotton growers in Katsina State and urged them to take complete advantage of the programme and take full advantage of the credit facility offered by the Government.

He said the Committee would give its recommendations to the Federal Government to help it revive cotton production in Nigeria.

Ibrahim Shema, Governor of Katsina, said that his administration would work in association with the Committee to achieve the set targets.

The Governor said that the State government had earmarked 250 million naira to be given as interest-free loans to the farmers to persuade them to take-up farming as a full time activity.

Likewise, the government sold 340 tractors to farmers at subsidized rates, as a part of its policy to pay attention to agricultural activities, and thereby to provide further employment opportunities for the people, Shema added.

Fibre2fashion News Desk - India

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