Ministry Of Commerce: The Central Bank Of Nigeria'S Intervention In The Textile Industry Has Created 620000 Jobs
According to the voice of Nigeria, more than 620000 direct and indirect employment opportunities have been created in two years due to the intervention of the Central Bank of Nigeria in the cotton, textile and clothing sector (CTG), according to the voice of Nigeria.
These include paying more than 44 billion naira for the entire industry chain between 2019 and 2020, and monitoring recovery during this period, emefele said.
CBN also increased ginning capacity from an average of 19% to 51%. The textile industry obtained the main raw material (cotton wool) at a price lower than the market price by 25.8% to carry out garment processing; CBN's cooperation with the military and police departments has prompted at least five agencies to cooperate with local textile manufacturers; CBN also supports the recovery of some textile enterprises on the verge of bankruptcy.
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