Nigeria’s National Economic Council has approved sweeping reforms aimed at revitalising key sectors of the economy, including the establishment of a Cotton, Textile and Garment, CTG, Development Board and a comprehensive livestock transformation initiative.
The Council, which includes the 36 state governors, the Central Bank Governor, and senior federal officials, backed the CTG Board proposal at its latest session in Abuja. The plan is projected to unlock up to $90 billion in economic value by 2035.
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A regulatory body will also be set up to oversee the textile industry, once a major contributor to employment but now largely dormant.
The Board is to be housed within the Presidency but led by private sector interests. Membership will include representatives from all six geopolitical zones and ministers responsible for agriculture, economic planning, and industry—signalling a multi-sector approach to industrial renewal and rural development.
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