James Uwem
6 January 2009
The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently release the N70b Textile Revival Fund promised by the past administration for the resuscitation of the nation"s textile industry .
The President of Nigeria Labour Congress , Mr. Abdulwahed Omar made this call during an exclusive chart with some selected Journalist in Abuja .
Umar stated that " In view of the current Global Economic Recession that has plunge even the most industrialised and organised societies in Europe and America ,many countries of the world have provided huge rescue packages to resuscitate their dwindling Private sectors like the Banking Conglomerates ,Mortgage Homes , Auto Factories .
"It has become imperative for the federal government not to waist more time but to urgently release the N70B promised by the past government of former President Olosegun Obasanjo to be used as an intervention fund for the rehabilitation of the numerous Textile Industries which has been totally down for a long time "
The Labour leader further stated that , the Textile industries in the country during the peak of its activities was the largest employers of Labour and indeed the Textile companies in Kaduna , Kanu and Lagos were major partners in the manufacturing sector. He added that it does not make any economic sense for any responsible government to fold its hands for years and watch such a viable sector crumbling .
The NLC President appreciates the good gesture of the former administration of President Obasanjo"s for their vision for making Provisions for a N70B rescue fund to rekindle the sector but said, there is no justification for the fund to be with held by the present government two years after .
The NLC boss assured that " the sector when fully resuscitated will contain with the devastating employment situation in the country and as well become a major foreign exchange earner for the country."
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