The National Economic Council (NEC) yesterday approved far-reaching initiatives projected to unlock up to $90 billion in value by 2035.
At its 149th meeting, chaired by Vice President Kashim Shettima at the Presidential Villa, NEC endorsed the establishment of a Cotton, Textile and Garment Development Board.
It unveiled a comprehensive agribusiness and livestock development plan.
In a statement by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said: ‘The nation is watching. Our citizens are not waiting for another speech. They are waiting for results’.
The newly approved Cotton, Textile and Garment Development Board is aimed at reviving an industry that once formed the backbone of Nigeria’s economy.
With representation from all six geopolitical zones, key federal ministries, and a strong private sector presence, the board will be domiciled in the Presidency and funded through the Textile Import Levy collected by the Nigeria Customs Service.
‘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’, Shettima said.
He noted that while cotton can grow in 34 states, Nigeria currently produces only 13,000 metric tons, forcing the country to rely heavily on textile imports.
The board is expected to reverse this trend and reposition Nigeria as a textile manufacturing hub.
Council also approved the establishment of the Green Imperative Project (GIP) national office in Abuja and six regional offices to support agricultural mechanisation and food production across the country.
This is to be complemented by the formal launch of the National Agribusiness Policy Mechanism.
A highlight of the meeting was the endorsement of the Nigeria Livestock Growth Acceleration Strategy, presented by the newly created Federal Ministry of Livestock Development.
Built upon the 2018–2028 National Livestock Transformation Plan, the refined strategy sets out to transform the livestock sector into a job-creating, revenue-generating and export-driven industry.
The strategy, developed in collaboration with sub-national governments and the private sector, will focus on five key areas between 2025 and 2026: animal health and zoonoses control, feed and fodder development, water resource management, statistics and information systems, and breed improvement.
The Council also endorsed a proposed transfer of N100 billion to the Federal Ministry of Livestock Development and urged states to establish their ministries to drive livestock reforms.
The goal is to transform Nigeria into a major red meat exporter to markets in the Middle East and Asia.
Minister of Education presented a strategy to equip five million young Nigerians with income-generating and entrepreneurial skills by 2030 through the Technical and Vocational Education Training (TVET) initiative.
The programme aims to standardise and accredit training across the country, backed by a robust governance structure and sustainable funding.
The Council was also briefed on the nation’s financial position.
The Accountant-General of the Federation reported the following balances as of April: Excess Crude Account (ECA) stands at $473,754.57; Stabilisation Account at N63.5 billion; and the Natural Resources Development Account at N72.9 billion.
Shettima called for a field visit by the NEC Implementation Monitoring Committee to bridge the gap between policy and performance.
He said: ‘Our people do not evaluate us by the elegance of our policies, but by the evidence of their impact.
‘Let us rise above partisan interests and regional divisions and focus on what truly matters—building a nation that delivers for all’.
