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Few takers for textile revival fund

08
Mar '10
After years of dithering, the Nigerian government had finally released funds for the N100 billion textile revival fund. But it seems, there are few takers for the first tranche of N20 billion released by the Bank of Industry (BoI), which is the nodal agency appointed by the government.

This was the lament of Mr. Humphrey Abah, Minister of State for Commerce and Industries, who said that N20 billion which is part of the N100 billion textile revival fund is available, but there are no takers from the stakeholders in the textile and its allied sub-sectors like garment, home-textiles etc.

He urged the local media to inquire as to why textile industries were not coming forth to claim benefits of the textile revival fund and also promised to respond to issues if any raised by the industry, on a lightening basis in order to instill confidence amongst the stakeholders.

Fibre2fashion News Desk - India


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