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Declare 2010 as year of textile sector, urge stakeholders
15
Oct '09
Prominent stakeholders from the textile industry in the country, time and again, have requested the Nigerian government to intervene and look in to the ills affecting the textile sector, which is going through the worst period of its chequered history.

They have now urged the government to declare 2010 as the year of revival of industrial and textile sector in the country. This call has been made against the backdrop of an announcement by the government to promote 'Made in Nigeria' goods.

They also said that this campaign for 'Made in Nigeria' goods was long overdue and added that the government should sustain the tempo of the promotion drive and that WTO's provision for the protection of domestically produced goods should be strictly adhered to.

They also urged the government to cut interest rates to single digits and introduce a tax holiday for five years for textile manufacturers and appoint a committee to analyze the prospects of developing the textile sector.

It may be recalled that the government had announced a textile revival fund amounting to N70 billion nearly five years back, but despite several promising announcements in the interim, the fund is yet to be disbursed to the sector.

Fibre2fashion News Desk - India

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