The Federal Government is to stop the importation of textiles by 2023.
This was contained in the terms of reference of the committee for the revival of the textile industry read by the Special Adviser to the Central Bank Governor on Development Finance, Anthony Ifechukwu in Abuja.
Mr Ifechukwu said by the end of the year, about 20 textile firms would have been revived and 50 more by 2020.
Other terms include identifying clusters for cotton production, zero duty on textile equipment and to address infrastructure deficits in participating States.
The CBN Governor, Mr Godwin Emefiele highlighted challenges bedevilling the textile industry and affirmed the federal government’s commitment to surmount them.
The Jigawa State Governor represented by the Deputy Governor, Ibrahim Hassan urged the committee to apply the success recorded in the Anchor Borrowers funds, to the project.
Kano, Kaduna, Katsina Gombe and Jigawa States are participating in the project.