The National Economic Council (NEC) has approved the creation of a Cotton, Textile, and Garment Development Board to boost the economy.
This initiative is expected to create up to $90 billion in economic value by 2035, accompanied by plans for agribusiness growth and livestock transformation.
During its 149th meeting in Abuja on Thursday,the NEC meeting chaired by Vice President Kashim Shettima also authorized the setup of the Green Imperative Project national headquarters in Abuja and regional offices in each geopolitical zone.
Shettima urged council members to approach decision-making with bravery, focusing on implementing reforms rather than empty rhetoric.
“We must avoid empty rhetoric and focus on the challenging yet vital task of implementing reforms,” Shettima said.
The council also extended sympathies to citizens and authorities of Benue and Plateau States following recent violence.
Persecondnews reports that the Board will be private sector-driven and funded from the Textile Import Levy collected by the Nigeria Customs Service.
The board will be domiciled in the Presidency with representation from relevant public sector stakeholders.
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