The National Economic Council (NEC) has approved the creation of a Cotton, Textile and Garment Development Board (CTGDB) and rolled out new strategies to expand Nigeria's agribusiness and livestock sectors, aiming to unlock $90 billion in economic value by 2035.
At its recent meeting chaired by Vice President Kashim Shettima and attended by governors from all 36 states, NEC also endorsed the establishment of the Green Imperative Project (GIP) national office in Abuja, alongside regional offices across the six geopolitical zones.
The Cotton, Textile and Garment Development Board will be domiciled in the Presidency and funded through the Textile Import Levy collected by the Nigeria Customs Service. Its membership will include representatives from all six geopolitical zones as well as key ministries — Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment.
Speaking at the session, Vice President Shettima noted that reviving Nigeria's cotton and textile industries is crucial for re-industrialisation, job creation, and restoring pride in local production.
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He pointed out that although cotton can thrive in 34 states, the country currently produces only a fraction of its potential output, relying heavily on textile imports.
In support of Nigeria's food security agenda, the Council also backed the launch of the National Agribusiness Policy Mechanism (NAPM), aimed at building an inclusive and sustainable national food economy that supports small businesses, farmers, and processors.
The meeting featured a presentation by the Federal Ministry of Livestock Development (FMLD) on its new "Nigeria Livestock Growth Acceleration Strategy," an updated framework built on the National Livestock Transformation Plan.
The strategy projects a $90 billion livestock sector by 2035, driven by investments in animal health, feed and fodder development, water management, and breed improvement initiatives.
The plan calls for partnerships between state governments, private investors, and foreign stakeholders, with the aim of modernising the livestock sector, encouraging ranching, reducing conflicts, and turning Nigeria into a major red meat exporter to Middle Eastern and Asian markets.
As part of the plan, NEC approved the transfer of N100 billion in previously committed resources to the Federal Ministry of Livestock Development to support state-level modernisation efforts and attract new investments critical for job creation and internally generated revenue (IGR) growth across the country.
By pushing these initiatives, NEC aims to provide small and medium businesses with new opportunities to thrive within Nigeria's growing agribusiness and livestock value chains.
