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2009 budget has no provision for textile revival fund

25
Jul '09
The Comptroller-General of the Nigerian Customs Service (NCS), Mr. Bernard Nwadialo has called on stakeholders in the industry to team up with the agency in order to stop the smuggling of imported textiles into the country and reinforce the textile industry.

Mr. Nwadialo was talking to the National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGWN) at a policy dialogue on the revival of the Nigerian textile industry, in Abuja. Textile industry stakeholders should complement the government's efforts, since the customs requires massive resources to patrol country's borders, he added.

He further added that making textile industry feasible is a complex job and there must be a cooperative work, by starting with reducing textile smuggling into the country. Custom officers need stake holder's assistance to provide them with working tools for better performance.

Both the parties can enjoy a sound partnership, believed Mr. Nwadialo. NUTGWN's President, Mr. Reginald Agulanna expressed glee at the NCS's efforts to revitalize country's textile industry, which has been comatose for several years. The industry needs modern machineries and technologies for easy competition.

Representatives of the Federal Government, Mr. Achike Udenwa, Minister of Commerce and Industry and Mr. Remi Babalola, Ministry of state for finance had told a Senate committee that though the Federal Government promised the industry about N70 billion in bailouts, the 2009 budget has no provision for that.

Mr. Udenwa informed that former President Mr. Olusegun Obasanjo's administration proposed the N70 billion as an intervention fund but it couldn't materialize. Now the President Mr. Umaru Yar'Adua's government is seeking a loan of N100 billion from the Bank of Industry (BOI) in order to revitalize the industry.

Mr. Nwadialo said that the plan is not to ban textile imports totally, but to allow selected foreign fabrics into the country which could prove as a competition in the sector. He also emphasized the need to modernize the operations of the industry operators.

Fibre2fashion News Desk - India


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