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Governor Godwin Emefiele of the Central Bank of Nigeria (CBN), on Thursday urged the Nigerian military, police and other uniformed organizations to patronize the local textile industry, which the apex bank is keen in resuscitating.
Emefiele met with Service Chiefs, and Chief Executive Officers of uniformed organizations, in Abuja, on how to drive President Buhari’s Executive Order 003 to yield meaningful results to the economy.
Signed by Vice President Yemi Osinbajo in 2017, Executive Order 003 requires federal government Ministries, Departments and Agencies (MDAs) to show patriotism by prioritising locally made goods inorder to boost the weak economy and create jobs.
Emeifiele raised the concerns that the MDAs has largely ignored the presidential order at the detriment of local textile manufacturers.
He said interactions with Stakeholders have shown that MDAs have not made any significant order for uniforms or clothing materials from our Nigerian textile manufacturers and garment companies and that the Governments’ efforts at resuscitating the textile industry will not be actualized if they are not supported through local patronage among other incentives.
“We have also observed that our textile factories are carrying huge quantities of unsold stock while our garment factories are idle due to lack of local patronage. We are optimistic that with your support, this trend can be reversed.”
He Service Chiefs, Chief Executives of Uniformed Services have what it takes to change the narrative and rewrite the history of Nigeria’s struggling Cotton, Textile and Garments (CTG) Sector.
“Crucial to this resolve is the call for patriotism and the need to support local manufacturers of textile through patronage by MDAs as entrenched in Executive Order 003.
“Mr President has directed full compliance with this Order as it will help in addressing the pressure on our foreign reserves through demands for forex … Read More...