Connect with us

Featured

CBN plans to revive 20 textile companies

Published

on

CBN plans to revive 20 textile companies

 

Plans are underway by the Central Bank of Nigeria (CBN) to revive at least 20 textile companies before the end of the 2019.

The apex bank had taken the first step in the journey to revive the sector with the flag-off of input distribution to 100,000 cotton farmers, as well as cultivating 100,000 hectares in 23 states of the federation.

To realize this ambitious dream, the CBN Governor Mr. Godwin Emefiele has inaugurated the Textile Revival Implementation Committee.

Members of the committee are drawn from the CBN, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Kaduna State, Federal Ministry Power Works and Housing, Nigeria Customs Services, Federal Ministries of Finance and Agriculture and Rural Development, Ministry of Industry Trade and Investment and Nigerian Export Promotion Council.

The committee which was inaugurated on Thursday in Abuja was charged by the CBN Governor to resuscitate at least 50 textile firms by the end of 2023; collaborate with stakeholders to identify, name and shame textile smugglers in Nigeria as well as develop a framework for eradication of smuggling and dumping of textile products into Nigeria, facilitate the production of 200,000 hectares of cotton fields by 2020 and maintain an annual increase of 100,000 hectares over the next three years.

The Committee is also expected to “work assiduously to deliver a minimum of 50 megawatts of captive power to Cotton, Textiles and Garment (CTG) firms in the interested states by 2021, and facilitate the effective pricing and delivery of gas, black oil and diesel to CTG firms in Lagos and other interested states to enhance their power generation and consumption.”

Speaking at the event, the CBN Governor lamented that “the CTG sector within the last 20 years had suffered a lot of difficulties especially, low cotton production, poor power and transport infrastructure, obsolete production lines, smuggling and counterfeiting, inadequate local patronage, high cost of production, and multiple taxation among others.

According to Emefiele, “smuggling of textile goods alone has been estimated to cost the nation over $2.2 billion. Today, most of the textile factories have all stopped operations and the workforce in Nigeria’s textile industry stands at less than 20,000 people. In addition, a large proportion of our clothing materials are imported from China and countries in Europe.”

Speaking on the rationale behind the inauguration of the textile revival committee, Emefiele noted that “a consolidated approach of this magnitude will afford us economies of scale, synergy in resource utilization and provide a holistic solution to harnessing the potentials of the CTG sub-sector in Nigeria.”

He was optimistic that “the CBN would resuscitate the cotton belts nationwide and grow the value chain till the last mile of textile production. We will need to set timelines for these deliverables and charge the technical committees to develop road maps that must be achieved within the set timelines,” he added.

The Nation.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Featured

Daughters of Dr. Charles Ononiwu, Chiamanda and Chiamaka, Launch Debut Books to Uplift Hearts Facing Life’s Struggles

Published

on

Joel Ajayi

At just 18 and 20 years old, Chiamanda and Chiamaka Ononiwu — daughters of renowned Nigerian surgeon Dr. Charles Ononiwu — have achieved a remarkable milestone with the release of their debut inspirational books, Do Not Be Afraid and Waterfalls.

Their literary journey began six years ago, during the height of the global COVID-19 pandemic. While the world was engulfed in fear and uncertainty, the then 13- and 15-year-old sisters turned inward, using writing as an outlet to process their emotions, express their faith, and reach out to others with messages of hope and resilience.

 What began as a quiet act of creativity blossomed into two powerful books that now serve as beacons of light for readers navigating life’s storms.

Eighteen-year-old Chiamanda Ononiwu is the author of Do Not Be Afraid. A passionate Electrical Engineering student , she is also a proud alumna of Intellichild TLC and Valedictorian of Great Blessings School, Class of 2022. 

In her book, she addresses the emotional challenges many young people face and draws from her personal faith to offer guidance and encouragement.

Her elder sister, Chiamaka Ononiwu, 20, is a final-year medical student at Babcock University in Nigeria. She penned Waterfalls, a heartfelt and deeply spiritual work she describes as divinely inspired. Chiamaka views her writing as a calling — a mission to uplift souls and bring hope to those struggling with life’s challenges.

“Personally, I would say it all started with the idea of inclusion, inspired by real human experiences,” Chiamaka shared. “We’ve had conversations with people who’ve gone through difficult situations — including issues and those stories helped shape what I write today.”

She added, “It’s all about encouraging people to face life with faith. We began this journey during a dark time in the world, and I felt called to create something that could offer comfort and hope — not just locally, but globally.”

The official book launch and signing ceremony took place on Wednesday in Abuja, Nigeria’s capital, and was attended by family, friends, colleagues, and well-wishers. It was a celebration of creativity, faith, and youthful brilliance, as the sisters presented their work to an inspired audience.

Speaking at the event, Chiamaka emphasized the core message of her book: “Waterfalls reminds readers that God is always watching over His people. He doesn’t bring fear — He brings peace, hope, and love. I want readers to find comfort and assurance in that truth.”

For Chiamanda, her book is a message to young people who may feel overwhelmed by life’s pressures: “Do Not Be Afraid is especially for youth navigating difficult times. No matter how hard life gets, you can always find strength and direction in God’s word.”

Writing came naturally to both sisters. Chiamaka recalled, “Even as a child, I loved writing short stories for my siblings. When the opportunity came to publish, I knew it was time to share my message with a wider audience.”

Despite their demanding academic paths, both young women balanced their studies with writing through perseverance and faith.

Chiamanda and Chiamaka are united by a shared dream — to inspire people across the world with their writing.

Chiamaka expressed Further;  “Our biggest hope is that these books will reach people who need to know that God is real, that He’s always with them, and that through Him, anything is possible,” Chiamaka said.

With Do Not Be Afraid and Waterfalls, the Ononiwu sisters have not only created literary works — they’ve created lifelines. Their voices, grounded in faith and driven by purpose, remind readers everywhere that even in the darkest moments, God’s light never fades.

Their father, Dr. Charles Ononiwu — a distinguished surgeon and deeply devoted parent — also spoke at the event, sharing the journey from his perspective.

“For me, my number one priority has always been to care for children — not just medically, but also by encouraging them academically and in the basics of life,” he said.

He recounted a moving moment with Chiamanda, who approached him with the idea of sharing her story publicly to inspire others.

“She came to me and said she wanted to talk to her peers, to share how she had been comforted, and to help them see that everything would be okay,” he recalled. “As a father, my role was to guide her. I support both of them, help activate their strengths, and provide direction.”

Dr. Ononiwu made the decision to fund the publication of their books himself, believing in the power of their message.

“I told them, ‘You have something the world needs. You can make an impact in the lives of others,’” he said. “I believe every child has a gift. It is our responsibility as parents not to dismiss them, but to help them discover and nurture their talents.”

He encouraged all parents to support their children’s creative pursuits, noting, “Every person has something special inside them — no one is without talent. It’s just a matter of looking inward, discovering that gift, and sharing it with the world.”

Continue Reading

Trending

error

Enjoy this blog? Please spread the word :)