By Ifeoluwa Odunayo

Nigeria’s cotton industry is poised for a major resurgence following the approval of the Cotton, Textile, and Garment Development Board (CTGDB) by the National Economic Council (NEC).

The initiative, a key part of the government’s economic strategy, is expected to generate up to $90 billion by 2035.

Funded through the Textile Import Levy from the Nigeria Customs Service, the CTGDB will be based in the Presidency.

While Nigeria has the potential to grow cotton in 34 states, current production remains low at just 13,000 metric tons annually.

The new plan aims to revive the industry, reduce textile imports, and create jobs, marking a significant step towards economic diversification.

By Adewunmi Oluwaseun 

The lawmaker representing Atakunmosa East, Atakunmosa West, Ilesa East and Ilesa West Federal Constituency, Mr Sanya Omirin, has appealed to the Taiwanese government to assist in upgrading the technical capacity of palm oil producers in his constituency.

Speaking at a workshop organised by the Taipei Trade Office for farmers in Iperindo, Osun State, Omirin acknowledged Taiwan’s past support for agricultural initiatives in Nigeria but pressed for deeper collaboration.

He stressed the need for technology transfer and technical expertise that would enable local farmers to scale up production and drive foreign exchange earnings.

“Taiwan is known for excellence. I am pleased your government is taking steps towards deeper engagement and we look forward to stronger cooperation in agricultural technology,” Omirin said.

He described his constituency as a farming hub with great potential, noting that, with the right support, farmers could produce quality palm oil and other products that would compete globally.

The workshop facilitator, Mr Abiola Esan, urged participants to embrace modern farming innovations.

He highlighted the importance of moving beyond traditional methods to stay competitive in the global market.

Esan praised the Taiwanese government for backing the initiative and encouraged farmers to put their new knowledge into practice.

According to a statement from the Omirin Media Office, the farmers also received cash gifts from the Taiwanese government as training allowances after the session.

By Adewunmi Oluwaseun 

The Nigerian Exchange closed the week strong as transactions soared by thirty point two six percent, delivering a thirteen billion naira windfall to investors.

During the week, investors traded one point eight five four billion shares valued at fifty six point zero two five billion naira across fifty one thousand three hundred eighty six deals, up from last week’s one point five two five billion shares worth forty three billion naira.

Despite a shortened trading week due to Easter holidays, market activity was vibrant.

Fidelity Bank, Access Holdings, and Guaranty Trust Holding Company dominated the charts, accounting for over forty three percent of the total trading volume and nearly forty percent of the value.

The financial services sector led the rally, driving sixty eight percent of the week’s volume and fifty two percent of the value, followed by the ICT and consumer goods sectors.

The NGX All Share Index climbed one point four six percent to close at one hundred five thousand seven hundred fifty two point six one points, with market capitalization rising to sixty six point four six five trillion naira.

Sixty four equities posted gains, with International Breweries and Nascon Allied Industries leading the pack, while twenty seven stocks declined, including VFD Group and Dangote Cement.