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Central bank, service chiefs collaborate to enforce executive order

Premium Times

The Central Bank of Nigeria (CBN), the Service Chiefs and heads of paramilitary agencies are closing ranks to tackle smuggling and dumping of textiles in Nigeria, currently robbing the country of billions of naira in revenue.

The collaboration also seeks to ensure total enforcement of Executive Order 003 issued by President Muhammadu Buhari, which seeks to deepen local content utilisation in running government concerns.

Speaking on Thursday at a meeting with the service chiefs and heads of paramilitary agencies and uniform services at the headquarters of the CBN, governor Godwin Emefiele, said the efforts aims at reviving the Cotton, Garment and Textile industry (CTG) worth several billions of dollars.

He said the current administration was determined to create jobs for the teeming population with emphasis on agricultural revolution, adding that the CTG sector has been identified as very critical in developmental agenda.

Emefiele explained that the priority placed on the sector was hinged on the conviction that it has the capacity to transform Nigeria’s rural economy and revive the textile and garment industries by creating over two million jobs, improve internal revenue across the three tiers of government, and reduce $4billion import bill incurred annually on textile and apparels.

He said the sector also has the potential to safeguard and earn foreign exchange and ultimately accelerate industrial development by making Nigeria a global player in the textile and apparel sectors.

He said, “This event symbolizes our commitment to attain self-sufficiency in cotton production with a view to serving the Textile and Garment segments of the value chain with quality inputs as we target zero importation by the year 2020.

“I have been holding meetings with the CTG aector stakeholders toward reviving Nigeria’s textile sector.

“We analysed the huge potentials that exist in the sector, identified the challenges militating against the sector’s contribution to Nigeria’s growth and development and presented quick wins for reviving the sector.

“Crucial to this resolve is the call for patriotism and the need to support local manufacturers of textile through patronage by MDAs as entrenched in Executive Order 003.

“We have the mandate of Mr President to ensure that all uniformed services and theatre wears in hospitals and medical facilities be sourced locally from the Nigerian CTG sector. “

The Chief of Army Staff, Lt Gen Tukur Buratai commended the apex bank governor for the steps being taken to revive the CTG sector.

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