The National Economic Council (NEC) has approved new strategies for agribusiness expansion and livestock transformation projected to generate up to $90 billion in economic value by 2035.
NEC also approved the establishment of a Cotton, Textile and Garment Development Board, in alignment with the economic revival agenda of President Bola Tinubu.
A statement by the Senior Special Assistant to the Vice President, Stanley Nkwocha, said the 149th NEC meeting was held on Thursday at the Presidential Villa, Abuja.
He said the meeting chaired by Vice President Kashim Shettima, also approved the establishment of the Green Imperative Project (GIP), with national office in Abuja and regional offices across the six geopolitical zones.
TheFact Daily reports as the regulatory body for the cotton, textile and garment sector of Nigeria, the New Textile Development Board will have governors representing the six geo-political zones, with Ministers of Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment as members.
The board, when set up, would be domiciled in the Presidency, private sector-driven, with representation of the relevant public sector stakeholders, and funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).
The statement said while addressing the issues of empowerment and food security, Vice President Shettima implored members of the Council to be courageous in taking decisions, saying they must “resist the temptation of grand rhetoric and embrace the hard work of reform.
“The nation is watching. Our citizens are not waiting for another speech. They are waiting for results. This Council must remain a meeting point of ideas that move the nation forward. Let us rise above partisan interests and regional divisions and focus on what truly matters—building a nation that delivers for all,” he stated.
VP Shettima reminded members that they were not at the council meeting as a mere routine but by “the resolve to confront the pressing realities that define the lives” of the Nigerian people”, even as he urged them not to just respond to crises, but work as architects of a sustainable future for the nation.
He stated: “Governance, in truth, is not the theatre of promises. It is the solemn business of fulfilment. Today, as always, we are not here to admire the beauty of policy design but to ensure the substance of its execution.
“The task before us is monumental, but it is not unfamiliar. At our last meeting, we launched bold initiatives and reawakened our sense of duty to the nation. Today, we return with even greater clarity about what lies ahead. We must always bear in mind that we are not merely responders to crises. We are architects of a sustainable future.”
On the establishment of a Cotton, Textile and Garment Development Board, the Vice President said it aligns with the economic revival agenda of President Bola Ahmed Tinubu, recalling that the initiative “is a call to resuscitate a sector that once clothed the people and powered the nation’s economy.
“Nigeria is a nation where cotton can thrive in 34 states. Yet our production level remains a fraction of our potential. We currently produce only 13,000 metric tons, while we continue to import textiles worth hundreds of millions of dollars. This is not just an economic imbalance. It is an invitation to act,” he added.
Cotton, Textile and Garment Development Board, according to him, will be funded by the textile import levy and will have a presence in all geopolitical zones in the country.
“Our goal is not just regulation. It is a revival. This is our opportunity to re-industrialise, to empower communities, and to restore pride in local production,” he explained.
On strengthening the nation’s food security, the Vice President said even though it is a vital follow-up to the Nutrition 774 Initiative, it is also basically about building an inclusive, efficient and sustainable national food economy.
“We are building a national food economy that is inclusive, efficient and sustainable,” he noted.
VP Shettima maintained that deliberations by NEC must inspire action, deepen unity and uplift the lives of the citizens, and to actualise this, he pushed for the consideration of a “field visit by the NEC Implementation Monitoring Committee.
“This is a critical step in bridging the gap between policy and performance. Our people do not evaluate us by the elegance of our policies, but by the evidence of their impact,” he added.
