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Textile union derides Govt for neglecting industrial sector
08
Aug '09
The National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) has urged the government to work towards the promise of reviving the industrial sector to help in the economic development of the country.

It said that since the present government has taken over, the number of industrial closures is on the rise and also leading to mass unemployment prospects amongst the youth of the country, which is a very dangerous trend.

The Secretary General of NUTGTWN, Mr Aremu said that smuggling of goods is rampant in the country and have now dislodged the industrial sector by taking away the productive space.

He said that the textile revival fund had been announced more than five years back and apart from raising the quantum of the fund from N70 billion to N100 billion, nothing concrete has been achieved towards disbursal.

Meanwhile, he added by saying, the closure of a number of textile units was on the rise and the more the delay in releasing the fund, the more difficult it would become to revitalise the textile and industrial sector.

A textile consultant has said that the textile industry would need US $1.4 billion to revive the sector and if these investments were to come through, the sector would be able to seize back 40 percent of the market share.

Fibre2fashion News Desk - India

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