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Textile technocrats, bankers, economists converge on industry revival

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By Franklin Alli

HIGH profile textile  technocrats, economists, bankers, administrators and practitioners from within and outside the country will converge this month in Lagos to explore a fresh path to the revival of Nigeria’s Textile Industry.

“These technocrats include Prof. Jeffery David Sachs, Special Advisor to UN Secretary General, Mr. Ban Ki Moon,   Prof. Sachs worked with more than 100 Heads of States globally and has bagged top national honours in India and Poland for his role in the transition of their economies.  Shri Prem Malik, the immediate past Chairman of Cotton Textile Export Promotion of India.  Malik has spent the last 43 years in the textile industry as regulator, industrialist and consultant. He is one of the most important textile technocrats globally, and our own banker and entrepreneur, Dr. (Mrs). Cecilia Ibru, Group Managing Director/CEO, Oceanic Bank International PLC,” said Programme Coordi-nator/CEO, Banquaires Facili-ties Int’l Ltd, Dr. Felix Adesanmi Adeduro.

Adeduro, whose company is the organiser of the forthcoming, First International Conference on Nigeria’s Textile Industry Roll-Back Initiative, billed to hold at  Sheraton Hotels, Lagos, July 14-17, said: “We believe Nigeria textile industry will run again.  With appropriate policy mix, Nigeria textile industry will run and generate sizeable employment to Nigerians within twenty four months after this maiden conference.  We all have a choice to give a big push once again to Nigeria’s re industrialisation process or wait to deploy our entire armed forces to combat economic militancy whose spread may be wide, destructive and pervasive.”

According tom him, the primary goal of this conference is the resuscitation of Nigeria’s ailing textile industry and ultimate harnessing of the huge potentials of the industry for the greater benefit of the people and the world at large.

He noted that the economy has for years been running on weak and volatile pillars held by the oil and gas and banking sectors.

“While the oil sector contributes more than 80 percent of national earnings, the effect in terms of economic growth and progress is limited.  Much of these earnings are yet to reach larger percentage of Nigerians.  The industrial sector of which the textile industry is a major part that largely generate employment and vast disposable income to bulk of employable Nigerians is vanishing, thereby creating huge army of idle labour who may one day promote economic militancy, dimension of which may be difficult to imagine.

“The first international conference on Nigeria’s textile industry will be shifting global attention and focus to Nigeria’s txtile sector and project its huge potentials and attractions.  It will also restore the lost fortunes and glory of the textile industry and attract re-engineering tools, financial / administrative aids and capital to the firms currently operating in the industry.”

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