Abuja, Nigeria – The federal government of Nigeria is partnering with the International Cotton Advisory Committee (ICAC) to revamp the country’s cotton and textile industry. Vice-President Kashim Shettima announced in Abuja that this initiative is expected to create over 1.4 million jobs annually in the sector.
Shettima stated this on Tuesday during a meeting with an ICAC delegation, led by Executive Director Mr. Eric Trachtenberg, at the Presidential Villa in the capital city of Nigeria. He said the project will focus on developing key components of the cotton value chain. The value chain includes farming, weaving, ginning, and linking of cotton, aligning with the industrialization drive of President Bola Tinubu’s administration. The vice president assured the delegation that the administration would actively work to leverage opportunities within the cotton value chain, which would aid Nigeria in regaining its ICAC membership.
Shettima urged stakeholders to create a roadmap for rescucitating Nigeria’s cotton and textile sector. He acknowledged ICAC’s dedication to developing the sector in Africa, emphasizing that the diverse backgrounds within ICAC offer a nuanced understanding of the complexities and opportunities in the cotton value chain.
In his response, Trachtenberg expressed his satisfaction with the interest and commitment shown by Nigeria’s leadership. He also commended other stakeholders for their efforts in reviving the industry in the country. Trachtenberg highlighted the transformative potential of the cotton value chain, citing examples from China, India, Pakistan, and other parts of the world. He emphasized that the cotton and textile sectors offer significant competitive advantages and drive economic transformation.
He assured that the ICAC would support Nigeria’s cotton value chain by providing expert advice on improving productivity, enhancing the value chain, and facilitating investment.
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