Call to revive Nigeria's cotton industry

Victor Iyama, President of the Federation of Agricultural Commodity Association of Nigeria (FACAN), has called on the Federal government to partner with the private sector to revive the cotton industry, which has suffered significant job losses due to the closure of ginneries.

Minister of Industry, Trade and Investment, Doris Uzoka-Anite, announced that the government has secured $3.5 billion in investments to boost Nigeria's textile, cotton, and apparel sectors. This investment aims to create jobs for both skilled and unskilled labor across the country.

Despite its potential in the $3 trillion global cotton industry, Nigeria's cotton sector faces challenges, including a shrinking local market and farmers' difficulties in accessing seeds. In 2016, Nigeria produced 51,000 metric tons of cotton, far below the global consumption of 24 million metric tons. This decline has severely impacted the entire textile value chain.

The Central Bank of Nigeria (CBN) has introduced several initiatives to revive the sector, including financial support and foreign exchange restrictions on textile imports. However, these measures have not yielded significant growth.

Experts attribute the stagnation in cotton farming to a lack of government support, innovation, and investment, leading to a reliance on imported cotton.