Olusegun Obasanjo’s administration (1999-2007) launched a N70bn Textile Development Fund to revive the ailing industry. This was followed by a N100bn Cotton, Textile and Garment Fund during the tenure of the Musa Yar’adua/Goodluck Jonathan government (2007-2015).
Similarly, Muhammadu Buhari’s government has launched at least three textile industry intervention funds since 2015 when he became president, including a N225bn fund, N50bn Revival Fund and another N19bn Cotton Fund.
Prior to 1999, there had also been finance schemes by the military governments of Ibrahim Babangida and Sani Abacha, but many of the textile companies shut down even after the government handed out public funds to them.
Power supply was erratic; textile products were being smuggled into Nigeria; traders were bringing in cheap Chinese goods and we were not sure they were paying import tariffs.
Some of the funds were
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