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Union Seeks Forex Window To Import Textile Equipment

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Leadership Nigeria News Today

he Textile, Garments and Tailoring Senior Staff Association of Nigeria (TGTSSAN) has urged the federal government to reduce the exchange rate for the survival of the textile industry. The union stated this in a communiqué issued at the end of its just-concluded 2018 industrial relation seminar held in Akure, Ondo State. According to the association, the industry was burdened by challenges of access to foreign exchange at affordable rate for the importation of machines and other equipment. National president of the union, Ambi Karu, hinted that more than 200 textile firms had been shut as a result of systemic challenges, while some reduced their production, staff strength and remuneration of workers.

He argued that there was nothing wrong for the government to give the local textile companies a 90 per cent rebate on cost of generating power. On the issue of inadequate power supply, the association urged government to give the textile plants zero per cent Central Bank of Nigeria (CBN)’s interest loan to build embedded power plants and pipelines to gas their factories. The union called on government to put legislation in place to support local manufacturers, adding that there should be a deliberate government policy to ban importation of cheap textiles materials into the country.
Union



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