NEC approves Textile Board, $90bn agribusiness plan to drive economic growth
By Kunle Sanni
The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development Board, alongside a transformative livestock and agribusiness strategy projected to unlock $90 billion in economic value by 2035.
These were among the key resolutions from the council’s 149th meeting held Thursday at the Presidential Villa, Abuja, and chaired by Vice President Kashim Shettima.
The council also observed a minute of silence for victims of the recent violent attacks in Benue and Plateau States, expressing condolences to their families and the governments of the affected states.
Major Approvals:
- Cotton, Textile and Garment Development Board
Designed to revitalise a once-thriving sector, the new board will regulate and develop Nigeria’s cotton, textile, and garment industry.
It will operate under the Presidency, with governors representing the six geopolitical zones and key ministers as members.
Funded by the textile import levy, it will be private sector-driven with strong public sector representation.
- Green Imperative Project (GIP)
NEC approved the establishment of a national GIP office in Abuja and regional offices across all six geopolitical zones.
The project aims to modernise Nigeria’s agriculture through mechanisation and innovation.
- National Agribusiness Policy Mechanism
The council gave its backing to a policy structure expected to fast-track inclusive food security and rural empowerment.
