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Related Keywords: cotton, Garments, hybrid cotton, Nigeria, seeds, Textile

Nigeria aims to produce up to 450,000 metric tons of cotton in three years, as part of efforts to revive the local textile and garment industry, said the apex bank in a statement on Friday.

Up to 300,000 local farmers will be engaged to achieve this aim in 26 out of the 36 states of the country, said the statement by Godwin Emefiele, governor of the Central Bank of Nigeria.

To revive the cotton, textile and garment industry, the bank had supervised the cultivation of 200,000 hectares of hybrid cotton distributed to 200,000 local farmers across the country.

Related Keywords: announced plans to invest, bed linens, fabrics to decorate homes, factories churned out African prints, foreign imports, fortunes could change after a Turkish company, Kaduna, lace, Nigeria, power shortage, reopen factory, seven of its ten textile companies closed down, several people unemployed, soaring production cost, textile boom city

Kaduna, Nigeria, once a textile boom city, having factories that churned out African prints, bed linens, lace and fabrics to decorate homes due to soaring production cost, power shortage and foreign imports, resulting in seven of its 10 textile companies to close down and several people unemployed. Their fortunes could change after a Turkish company announced plans to invest $15 million to reopen one of the factories.

Related Keywords: access to extension services, by the World Cotton Market on cottonguide.org, cotton farming in Nigeria, facing major setback, lack of improved seeds, low prices of produce, missing out among the selected 15 African countries, Nigeria, Nigeria losing export opportunity in cotton, share of cotton in product exports

Nigeria is missing out among the selected 15 African countries on the share of cotton in product exports by the World Cotton Market on cottonguide.org, as cotton farming in Nigeria due to lack of improved seeds, access to extension services and low prices of the produce have been facing major setback over the years. As a result, Nigeria is said to be losing about $6.5 billion export opportunities in cotton annually. It’s contribution to GDP dropping from 25 percent to 4 percent.

Related Keywords: Bt cotton, Bt. cotton a viable way of engaging with technology, Burkina Faso cotton yields, chemical use is down, Cotton Ginners Association, dwindling status of cotton production, farmers incomes have risen, Nigeria, Raw Materials Research and Development Council, seriously considering adoption of Bt. cotton, technology providers

Delegations from neighbouring Benin and Togo which included farmers, government officials, members of parliament and textile industry representatives visited Burkina to see for themselves how Bt. cotton has transformed the economy. Burkina Faso’s yields and farmers' incomes have risen, chemical use is down, and cotton and cottonseed oil have become major exports, after Burkina Faso's recent fiasco over Bt. cotton fibre length - and the decision by cotton companies to slow adoption while the issue is being resolved - is being interpreted differently in the region.

Related Keywords: boost bilateral trades, business propects, fastest growing economy, furniture garment and textile, largest economy of Africa, Nigeria, PCCI, Philippine, produce robust bilateral trade

Philippines and Nigeria need to explore several opportunities to produce robust bilateral trade. Nigeria, being Africa’s largest economy and Philippines , second only to China and Southeast Asia’s fastest-growing economy, they need to strengthen ties to boost bilateral trades and explore business prospects, Chairman Miguel B. Varela of Philippine Chamber of Commerce and Industry (PCCI) said during the hosting of Nigerian and Philippine companies by the PCCI in Taguig City on Monday.

Related Keywords: annually, import, imported from China, Issa Aremu, low cost, market, mismanagement, new textile policy, Nigeria, Nigerian government, Nigerian Textile industry, NLC, occupy 90 percent, smuggled products, textile and garment, without paying taxes

Textile and garments worth N300 billion being annually imported into Nigeria without paying duties or taxes. This was revealed by Issa Aremu, the General-Secretary of the National Union of Textile, Garment and Tailoring Workers of Nigeria in llorin, the Kwara State Capital at the 26th National Education Conference of the Union. He is also the vice president of the Nigeria Labour Congress (NLC).