According to reports, the Nigerian government has launched its Cotton, Textiles and Garment Industry Revival Scheme. Under the scheme, it will make N100 billion ($6.7 million) available to firms within the textile sector through the Bank of Industry, which has been closely linked with the textile industry since it was established in 2001.

Applicants who wish to apply for funding will need to follow the relevant guidelines, will be published in the next few months. The aim of the scheme is to “revitalise and develop” the Nigerian textile segment and to increase its competitiveness. Beneficiaries will include fibre producers, spinners and garment producers.

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