Government under pressure to release textile revival fund
Mr Goodluck Jonathan, VP, Nigeria
Acting on pressure from different quarters, the Vice-President of Nigeria, Mr Jonathan announced that the government has indicated its intention to release the N70 billion textile revival fund, which had been announced a long time ago.
In the last few weeks, pressure has been mounting from the trade unions and more in particular the United Nations Industrial Development Organisation (UNIDO), who have raised concerns over the delay in releasing the much needed funds.
Speaking on behalf of the Vice-President, The Governor of Enugu, Mr Chime reiterated that the government was trying its best to reduce the impact of the global crisis on the industrial sector by putting several measures into place.
He added by saying that, recently the government had allocated additional funds to the tune of N350 million towards increasing the electricity generation from 3,000 megawatts to 6,000 megawatts by the end of the year.
Fibre2fashion News Desk - India
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