The Bank of Industry (BoI) is taking concrete steps to boost Nigeria’s Cotton, Textile, and Garment (CTG) sector, with a targeted funding plan aimed at reviving the once-thriving industry and creating thousands of jobs.
The move is part of the Federal Government’s broader industrial recovery agenda under President Bola Tinubu, designed to stimulate growth, attract investment, and restore Nigeria’s manufacturing strength.
The initiative kicked off with an inspection tour of key textile sites in Kaduna State by John Owan Enoh, Minister of State for Industry, Trade and Investment, which prioritises job creation, inclusive economic growth, and sustainable industrial development.
Speaking during the tour, Olasupo Olusi, Managing Director/Chief Executive Officer of the Bank of Industry, said the economic revitalisation effort of the federal government presents a major opportunity to stimulate job creation, especially in the Cotton, Garments, and Textiles sector.
“This revitalisation is about improving lives across different sectors, It holds significant potential for job creation not just within the factories, but across the value chain, including our basic cotton farmers and even in protein production zones,” Olusi said
He stated that the renewed attention to the CTG sector is a deliberate move to restore economic health and investor confidence in Nigeria’s industrial ecosystem.
“Our goal is to create hope and renew interest in a sector that was once a major employer of labour. It’s a crucial step toward rebuilding the economy,”
Olusi, I’m a statement said the Bank of Industry would continue to work with the Ministry of Industry, Trade and Investment and other stakeholders to improve funding access and unlock the sector’s full export potential.
According to him, the government’s plan is not merely about reviving factories but also to build a stronger, sustainable industrial base.
“We see this as more than a factory revival. It’s an economic strategy. It aligns with our broader mission to transform Nigeria’s industrial future with real impact on households and communities,” he added.
The minister, during the tour of the United Nigeria Textiles Limited (UNTL), described the factory’s revival as a litmus test for broader industrial renewal.
He said the Tinubu administration is committed to repositioning the CTG industry as a backbone of inclusive growth.
He attributed the decline of UNTL to uncontrolled imports, smuggling, and lack of copyright protection, which allowed substandard products to flood the market.
The minister stressed the potential economic impact if UNTL could be revived, advocating for government intervention to address challenges and obstacles to production.
He highlighted the necessity of labor-intensive industries like manufacturing and agriculture for job creation in a country of 200 million people, arguing that services are important but insufficient for creating jobs on the scale needed for a nation such as Nigeria.
Enoh, who also toured Chellco Industries, one of the few legacy textile manufacturers still operating since 1980, commended the company’s resilience and steady contribution to employment, noting its current workforce of over 290.
Read also: Bangladesh textile success offers roadmap for Nigeria’s drying mills
Sanusi Lamido Sanusi, Chairman of UNTL and Emir of Kano,, expressed concern over the closure of the plant in 2022, which he said once employed over 10,000 people across the value chain.
He cited power supply issues, smuggling of foreign textiles, poor procurement support, and dumping as major threats.
He warned that the factory’s collapse has worsened youth unemployment and regional insecurity.
Other stakeholders who spoke at the event said with coordinated support from institutions like BoI, Nigeria’s textile industry could soon experience a long-overdue resurgence.
