Business
Bureaucracy, Obstacle To Accessing Textile Dev – Commissioner
Alhaji Abubakar Umar, Kaduna State Commissioner for Commerce and Industry, has called on the Federal Government to reduce the level of bureaucracy associated with accessing the N100 billion textile fund.
Umar told the newsmen in Abuja, on Wednesday, that there was the need for government to review the bureaucracy so that potential investors would have access to the money.
He said, “There is N100 billion kept in banks by the Federal Government for the textile industries to access”.
“The government is doing a lot to mobilise people in order to access the fund, but accessibility is the problem”.
“Gone are the days when the textile industries in Nigeria used to be functional but, the present administration is doing a lot, pumping in money in order to re-activate the industries.”
Umar said government was doing enough to re-activate the ailing textile industries in Nigeria, but accessibility of this fund remained a problem due to the conditions attached by the banks.
The commissioner said, “The funds are meant for the grounded industries, but they cannot access the fund, at the end of the day, what will the banks do with the fund.”
He said that Governor Patrick Yakowa of Kaduna State was making sure that the state would join hands with the Federal Government to revive the textile industries in the state and Nigeria as a whole.
According to him, the sector if revived will create job opportunities and thereby help to reduce the unemployment in the country.
He noted that the state had built about four mega stations to provide power supply to the people and industries in the state as a way of encouraging industrial development in the country.
Umar was in Abuja to attend the Nigeria at 50 Trade Fair.
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