To reposition Nigeria’s economy and tackle insecurity at its roots, the National Economic Council (NEC) has approved the establishment of a Cotton, Textile, and Garment Development Board, alongside new strategies for agribusiness expansion and livestock transformation initiatives.
The initiative is projected to generate up to $90 billion in economic value by 2035.
Senior Special Assistant to the President on Media & Communications (Office of the Vice President), Stanley Nkwocha, in a statement, stated that the CTGDB would be domiciled in the Presidency and funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).
The meeting, which was chaired by Vice President Kashim Shettima, and was attended by governors of the 36 states of the federation, also approved the establishment of the Green Imperative Project (GIP) national office in Abuja and regional offices across the six geopolitical zones to address the crises fuelled by the current system of animal husbandry in the country.
Other members of the board would be representatives of the six geo-political zones as well as the ministers of Agriculture and Food Security, the Minister of Budget and Economic Planning, and the Minister of Industry, Trade and Investment.
Other initiatives approved by the council included the establishment of the Green Imperative Project (GIP) national office in Abuja, with regional offices across the six geopolitical zones, as well as measures to address the crises fuelled by the current system of animal husbandry in the country.
Other highlights of the NEC meeting included the Federal Ministry of Livestock Development’s (FMLD) presentation on, “Nigeria Livestock Growth Acceleration Strategy,” which is built on the National Livestock Transformation Plan (NLTP) (2018 – 2028) that is focused on modernising Nigeria’s livestock sector, with an emphasis on cattle ranching and peace building.
