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Why textile firms won’t access N70bn bailout now – Kuye

By Kenneth Ehigiator

LAGOS—Minister of Commerce and Industry, Senator Jubril Martins Kuye, has said the Federal Government would not be in a hurry to give financial bailout to textile manufacturers until the country’s energy crisis was fixed.

The government had proposed to bail out the textile industry with N70 billion to prevent the sector from going into extinction.

Speaking at the Murtala Muhammed Airport in Lagos, weekend, Kuye said any bailout given to the sector now would amount to waste, since the operators in the sector lacked power to run their machines.
He said: “Government, in my opinion, should not be in a hurry to disburse any bailout to any operator, there are quite a lot of things to face.

“If you give money to textile operators now and they do not get electricity, constant enough to run their machines, the money is going down the drain.  If they get constant electricity, the business will move on seamlessly.”

AC seeks end to racial tension in South Africa

LAGOS—The Action Congress, AC, has called for an end to the rising racial tension in South Africa, in the wake of the killing of white supremacist leader Eugene Terre’Blanche, adding that the racial harmony that has prevailed in the country since the collapse of apartheid must not be allowed to return.

In a statement issued on Sunday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said the fact that the country will host the 2010 FIFA World Cup in June makes it even more urgent to put an end to the growing tension, so as not to send a wrong signal to the world.

The party said all South African leaders must follow the example of President Jacob Zuma by speaking out against hate speech and divisive tendencies in South Africa, adding that the fiery African National Congress (ANC) Youth Leader Julius Malema must in particular be called to order.


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