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Support textile industry with soft loans, Reps urge BOI


The House of Representatives has urged the Federal Government to protect the local textile industry by providing soft loans to operators through the Bank of Industry.

The decision of the House was sequel to the adoption of a motion on notice sponsored at Tuesday’s plenary by Jigawa lawmaker, Mr Garba Muhammad.

Rallying his colleagues for support, Muhammad noted that the Nigerian textile industry, with over 180 mills in operation, has significantly impacted the manufacturing sector, making it one of the highest employers of labour.

He added that revitalising the textile industry would create employment, diversify the economy, and enhance the socio-economic development of the country.

He, however, expressed concern “over the significant decline in the textile industry, particularly the layoff of thousands of workers from companies like Kaduna Textile, Ka Nigeria Textile, and First Spinners, among others.”

Muhammad added, “The House is concerned that the discovery of oil in Nigeria resulted in decreased material for the textile industry, thereby significantly impacting the sector.”

We are worried that government policies such as higher taxation and expensive liberalisation are leading to extensive importation of textile materials.”

The House, following the adoption of the motion, urged the Federal Government to regulate the importation of foreign textiles and encourage the production of local textile materials.

It called on the Federal Ministries of Finance, Industry, Trade, and agencies to encourage local textiles by providing soft loans through the Bank of Industry.

It also advised the Federal Ministry of Power to collaborate and provide necessary facilities, especially power supply to companies, to enhance quality outputs.

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