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.
