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Consultant supports setting up textile industry in Rivers province
14
Mar '09
A proposal to disburse N70 billion funds to revive the textile sector has been mooted long time back. But for whatever so reasons the Nigerian government is delaying releasing the much needed funds, which is leading to more textile unit closures and increasing unemployment.

Recently at a meeting of the Edo/Delta chapter of the Manufacturers Association of Nigeria (MAN), it appealed to the government to release the textile revival fund to genuine beneficiaries at the earliest to prevent the whole industry from collapsing.

They have warned of grave consequences if the textile sector is allowed to collapse for want of funds as the textile sector was one of the biggest employment generators in the country after the federal government and could have serious consequences on the economy.

In a related development, a businessman from Rivers state government has made a call for the establishment of a viable textile industry in the state and gave many reasons for investing in the textile sector of the province.

He said the foremost was that it would provide employment to the unemployed youth of the province and also had the potential of delivering gains in the short as well as long term and suggested that these should be on the private-public partnership model.

It would also support the development of ancillaries industries in and around the textile companies, which will further the economy of the province and since the requisite infrastructure was in place it would be very easy for entrepreneurs to start their projects.

Fibre2fashion News Desk - India

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