The House of Representatives has urged the Bank of Industry (BOI) to provide soft loans to operators in Nigeria’s ailing textile industry, in a renewed push to revive the sector and boost employment.
This resolution followed a motion by Hon. Garba Muhammad (Jigawa) at Tuesday’s plenary, where he decried the sharp decline of the once-vibrant industry that previously operated over 180 textile mills and was a top employer nationwide.
Muhammad emphasized that revitalizing the sector would not only create jobs but also support economic diversification and national growth. He blamed the collapse of major companies like Kaduna Textile, Ka Nigeria Textile, and First Spinners on harsh government policies, high taxation, power shortages, and the unchecked importation of foreign fabrics.
“The industry has suffered mass layoffs, and government policies have favoured importers over local producers,” he noted. “The discovery of oil diverted focus from agriculture and textile raw materials, while liberalisation has opened the floodgates to cheap imports.”
The House therefore urged the Federal Government to restrict textile imports, strengthen local production, and direct the Ministry of Power to improve electricity supply to textile factories.
In addition, it called on the Ministries of Finance, Industry, and relevant trade agencies to collaborate with BOI in offering soft loan packages tailored to the specific needs of the local textile industry.
