CBN to cultivate 80,000 hectares of cotton

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele says the apex bank was aimed to cultivate 80, 000 hectares of cotton, with an average output of 120, 000 metric tonnes at 1.5 metric tonnes per hectare in 2021.
Emefiele stated this in a series of tweets on CBN official handle, while commending stakeholders in the Cotton, Garment and Textile (CTG) sector for their efforts to resuscitate the sector for economic growth.
He said that the textile sector was capable of creating jobs and improving government’s revenue drive if made to operate optimally.
He added that CBN was on a journey to resuscitate the sector with a plan to increase cotton production, capacity of ginneries and textile companies in the country.
“CBN will be working with associations that have repaid at least 70 per cent of their existing loans to cultivate about 80,000 hectares of land with an average output of 120,000 metric tonnes at 1.5 metric tonnes per hectare…………TO CONTINUE READING CLICK ON

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