Modules
Chemical Prices
Tariff & Taxes
Export-Import
Country Watch
Energy Statistics
Customized Research
News
Agrochemical
Announcement
Coating
Energy
New Product
Packaging
Petrochemical
Pharmaceutical
Plant
Plastics
Policy
R&D
Speciality Chemicals
Sustainability
Articles
Pricing
Log In
Contact US >
Modules
Chemical Prices
Tariff & Taxes
Export-Import
Country Watch
Energy Statistics
Customized Research
News
Articles
Pricing
Request a Demo
Home
News
Policy
FM plans to raise N50bn for textile industry
Textiles
FM plans to raise N50bn for textile industry
29 Jul '06
1 min read
Federal Government has formed a 10-member committee chaired by the Finance Minister, Nenadi Usman to alleviate country's ailing textile industry.
Government is examining the sources to raise N50 billion fund to rehabilitate the industry.
This committee has been formed following the recommendations of President Olusegun Obasanjo.
Obasanjo explained that textile industry needed fund to develop and refurbish the industry.
He agreed with the idea of raising N50 billion as it would help manufacturers to acquire advanced technology and necessary equipments.
Out of 175 textile companies in Nigeria, only 24 were operating at full capacity and hence, more than 200,000 jobs have been laid off.
More Textiles News - Nigeria...
Get Free Weekly Market Insights Newsletter
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
Subscribe
THANK YOU!
Subscribe for Newsletter
More News
Polieco to acquire Dutch specialist The Compound Company
Dec 01, 2025
Singapore’s Aster & Hitachi to double ethylene export capacity by 2027
Dec 01, 2025
Neogen partners with Japan's Morita for battery salt production
Dec 01, 2025
Eurofragance launches inaugural creative center in Jakarta for APAC
Nov 28, 2025
BASF & Sinopec expand biomethane partnership in Nanjing
Nov 28, 2025
×
Submit your press release on
editorial@fibre2fashion.com
Copyright © 2025. All rights reserved by
Fibre2Fashion Pvt. Ltd.
marketing@alchempro.com
