The Cotton, Textile and Garment Development Forum (CTGDF) has urged President Bola Ahmed Tinubu to activate the National Economic Council (NEC)-endorsed Cotton, Textile and Garment Development Board (CTGDB) and halt the dismantling of viable factories facing enforcement by creditors.

The forum made the call in Abuja to mark World Cotton Day, saying while it supported the recovery of legitimate public loans, selling productive machinery as scrap could destroy the industrial capacity the loans were intended to create.

It proposed a 12-month preservation and recovery protocol for distressed cotton, ginning, textile and garment assets, beginning with a 90-day independent audit. The forum said the process should determine whether factories could be rehabilitated, restructured or transferred to credible operators before irreversible liquidation.

The CTGDF stressed that the proposal was not a bailout request, saying companies seeking protection under the protocol should open their books, submit to independent valuation, accept governance changes or new operators where necessary and meet clearly defined repayment milestones.

Facilities that failed the viability test, it said, should face an orderly exit, with a going-concern sale considered before machinery was dismantled or industrial land converted to other uses.

The forum recalled that the NEC endorsed the establishment of the CTGDB at its 149th meeting on April 24, 2025, following a presentation by the CTGDF.

It said the approved model was Presidency-domiciled and private-sector-driven, with the Board to be funded principally through the Textile Import Levy collected by the Nigeria Customs Service.

A steering committee inaugurated by the Secretary to the Government of the Federation, Senator George Akume, on March 5, 2026, subsequently worked on the Board’s framework, mandate, composition, powers and funding, completing its work on April 7.

The CTGDF said the process should now move from policy approval to implementation, alongside reconciliation of the Textile Import Levy and establishment of a transparent and lawful funding mechanism for the Board.

The forum cited sector assessments indicating that about 180 textile factories have closed, national cotton production has fallen to roughly 13,000 metric tonnes and imports now meet about 90 per cent of domestic textile demand. National Bureau of Statistics figures also show recorded textile imports rose from N726.18 billion in 2024 to N1.061 trillion in 2025, reaching N578.51 billion in the first half of 2026.

The CTGDF estimated that replacing 25 to 50 per cent of the 2025 import value with local production could create an annual market opportunity of N265 billion to N530 billion. It also cited sector benchmarks suggesting that full revival could support 1.4 million to more than two million direct and indirect jobs, provided the sector can secure affordable finance, reliable power, farmer security and adequate local raw material supply.

The forum urged the President to approve the immediate take-off of the CTGDB under Presidency oversight, with private-sector leadership, and transmit an Executive Bill to the National Assembly for institutionalisation.

It also requested an urgent audience with Tinubu to present its recovery proposals.

“Recover the loans. Preserve viable factories. Operationalise the CTG Development Board,” said the statement signed by the Forum Coordinator, Chief Anibe Achimugu.

World Cotton Day is observed annually on October 7 following United Nations General Assembly Resolution 75/318. The 2026 celebration is themed “Cotton for Good: Building Prosperity Through Trade, Transformation and Partnership.”