In a significant move to reposition the nation’s economy and strengthen food security, the National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment (CTG) Development Board alongside an ambitious agribusiness and livestock transformation plan expected to generate up to $90 billion in economic value by 2035.
The resolutions were adopted during the 149th NEC meeting, held Thursday at the Presidential Villa in Abuja, and chaired by Vice President Kashim Shettima. The council comprises the governors of Nigeria’s 36 states, the Governor of the Central Bank of Nigeria (CBN), the Minister of Finance, and other key government officials.
Strategic Role of the CTG Board in Economic Growth
According to a statement released by Stanley Nkwocha, Senior Special Assistant on Media and Communications to the Vice President, the newly approved CTG Development Board will serve as Nigeria’s primary regulatory and strategic body for revitalizing the textile value chain. It will include representatives from the six geopolitical zones, along with the Ministries of Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment.
“The board will be instrumental in proposing innovative strategies to accelerate agribusiness expansion and livestock development as a way to boost economic productivity and address the root causes of insecurity,” Nkwocha stated.
Tribute to Victims of Violence in Benue and Plateau
The meeting opened with a minute of silence in remembrance of the victims of recent violence in Benue and Plateau States, and the council extended condolences to affected communities and governments.
Green Imperative Project: National and Regional Offices
In addition to the CTG board, the council also approved the launch of a national office for the Green Imperative Project in Abuja, alongside six regional offices. The initiative aims to modernize agricultural practices and tackle persistent crises in Nigeria’s livestock and animal husbandry systems.
Vision for Rural Development and Food Security
The newly approved measures are part of a broader strategy to foster rural development, create jobs, and increase national revenue by strengthening the agricultural and industrial sectors.
