Business
FG, Textile Firm Sign MoU

Ministry of Industry,
Trade and Investment last Tuesday signed a Memorandum of Understanding (MoU) with Cothing 360, a Nigerian company to promote implementation of Federal Government’s policy on Cotton, Textile and Garment (CTG).
The Minister of State, Mrs Aisha Abubakar at the signing ceremony said that the MoU was to “concretise and harmonise ideas with a view to ensuring more private sector participation.”
According to her, it is also envisaged to help improve the development of Ready-Made-Garments
in Nigeria.
Abubakar said that the industry would grow faster with public and private patronage.
“To this end, we are pursuing the implementation of the procurement of uniforms for the armed forces, paramilitary, schools and hospitals by the three tiers of government as a way of stimulating growth in the sector.
“Other areas of intervention include the promotion of the Made in Nigeria Initiative, which involves an e-commerce platform.
“The conversion of some of the industrial development centres into garmenting production hubs, promoting ready-made wears, aggressive sensitisation of the African Growth Opportunity Act (AGOA) and exhibitions.”
The minister implored other stakeholders in the industry to bring in pragmatic solutions to the industry.
She noted that the MoU would not restrict any organisation seeking to partner with the ministry in the same regard. The Director, Clothing 360, Miss Oreofe Akinkugbe said that the MoU was an indication hat the federal government was serious about industrialising the non-oil sector as well as diversifying export base.
“The signing of the MoUS is going to enable us forge ahead with more determination and to see results towards the sustainable development of CTG value chain. “We are also delighted that you share in our vision which is that Nigeria can one day become the preferred emerging hub for global export of quality and affordable ready-made garments and textiles.” Akinkugbe said that the company was created to stimulate concerted efforts to organise and develop Nigeria’s ready-made garment industry.
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