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FG budgets N51bn to revive textile industry

The Federal Government has set aside the sum of N51bn in this year’s budget to promote the development of the garment and textile industry in the country.

The allocation is part of measures aimed at boosting the sector in a manner that will create jobs, support the diversification efforts of the Federal Government and increase the patronage of made-in-Nigeria apparels.

Statistics from the Ministry of Industry, Trade and Investment revealed that between 1980 and 2016, about 145 companies operating in the textile sector had shut down owing to the harsh economic climate.

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