The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment (CTG) Development Board to lead the revival of Nigeria's textile industry and reposition the agribusiness sector for long-term economic growth.
The initiative is expected to unlock up to $90 billion in economic value by 2035 and is part of a broader strategy to enhance food security, create jobs, and reduce insecurity through sustainable economic reforms.
The board will be domiciled in the Presidency and operate as a public-private partnership, with funding sourced from the textile import levy collected by the Nigeria Customs Service. It will include representatives from all six geopolitical zones, as well as key ministries such as Agriculture, Budget and Planning, and Trade and Investment.
Vice President Kashim Shettima, who chairs the NEC, said the move is aimed at "resuscitating a sector that once clothed the nation and drove economic growth," adding that cotton can thrive in 34 states, yet current production remains underutilised.
"We currently produce only 13,000 metric tonnes of cotton while importing textiles worth hundreds of millions of dollars. This is not just an imbalance; it is a call to action," Shettima said.
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Also approved at the 149th NEC meeting held in Abuja was the establishment of a national office for the Green Imperative Project and regional offices across all geopolitical zones. The Council also endorsed the National Agribusiness Policy Mechanism to improve coordination and implementation.
To strengthen the livestock sector, the NEC approved the Nigeria Livestock Growth Acceleration Strategy, which builds on the existing 2018–2028 National Livestock Transformation Plan. The new strategy targets the development of a modern livestock value chain—focusing on ranching, disease control, data systems, and private sector investment—with projected returns of up to $90 billion by 2035.
In addition to economic reforms, the Council received updates on the federation's accounts. As of April 2025, the Excess Crude Account stood at $473,754.57, the Stabilisation Account at ₦63.54 billion, and the Natural Resources Development Account at ₦72.86 billion.
NEC also endorsed a national plan to equip five million youths with income-generating skills by 2030, through a strengthened Technical and Vocational Education and Training (TVET) system. This includes partnerships with federal agencies, states, and the private sector.
The Council called for bold decision-making, urging members to focus on execution rather than policy rhetoric. "Governance is not the theatre of promises; it is the solemn business of fulfilment," Shettima stated.
