In order to improve the economy of the country, the Central Bank of Nigeria (CBN) has proposed to provide financial help to textile industries in Nigeria.
Recently, a meeting with garment and textile makers was held by Godwin Emefiele, CBN governor, in Abuja.
He discussed on how to solve the issues which are hindering textile production and provide assistance in such issues.
He stated that garment and textile manufacturing industries create employment and contribute to the country’s economy and therefore must be provided proper assistance to function properly.
Godwin focused on aiding small and medium scale producers by providing loans from banks so that they could carry on with full production without having to worry about short tenure and suspension.
Also, the industrialists who are still operating at minimal scale would be provided assistance to access more finance from the banks.
The commitment of the Central Bank of Nigeria (CBN) to support the textile industry operations would give a boost to the Nigerian economy eventually.
Indorama Ventures has teamed up with Suntory, Iwatani, and others to introduce the first commercial-scale bio-PET bottle, made from certified…
Milliken & Company has introduced Milliken Assure, first flame-resistant moisture barrier for firefighter turnout gear that is free from PFAS…
Paradise Textiles has collaborated with Kintra Fibers, a leader in bio-based fibers, to produce the first garment made from Kintra’s…
Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.
Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…
CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…