The Executive Chairman Adhama Textles & Garment Ind. Ltd Kano Sa'idu Dattijo Adhama has called on Federal Government to set up what he called Textile Development Bank (TDB).

Adhama said it is timely owing to the global economic crisis and the efforts of the Yar'adua government at gingering the economy. Daily Trust can report that the government is yet to disburse the N70 billion loan promised textile manufacturers and cotton farmers.

Adhama, in this Internet interview said: "For smooth operation of government activities, the federal government of Nigeria still owns and controls a few banks that include Bank of Industry, NEXIM Bank, NACRD Bank Federal Mortgage Bank etc. All these are meant to be of assistance to other Nigerians that cannot access assistance from conventional commercial bank operation.

"The above-mentioned banks were aimed at developing/ growing businesses of certain category on Nigerians.

"In a related development, the failure of community banks gave room for the establishment of micro-finance bank, which are aimed at promoting small scale enterprises from the grassroots. It is indeed, a welcome development that will go a long way in strengthening Nigerian economy."

He said government should allow foreign banks to have stakes in the new bank when it eventually comes on board, adding that already the existing banks seem to have been over stretched given their contributions in other sectors and margin loans losses close to a trillion in the country's capital market.

He said one of the missing links in the economy is the cotton and textile sub-sector, which is a poverty-fighting and job-creating industry.

According to him, this has a huge market potential both within and outside the country.

"For the nation to achieve the Vision 20- 2020 Project, the regulatory apparatus of the federal government like the CBN, Federal Ministry of Finance and the office of the Chief Economic adviser to the president are advised to give cotton/ textile development a serious look. This is capable of giving a boost to economic activities," he said.

He said considering the growth of the Nigerian population and the problems associated with the development of critical infrastructure of the economy, something should be done urgently to revive the sector.

Said he:"The current deep-neck clothing insecurity in Nigeria and loss of foreign exchange and the resultant joblessness will constitute a threat to the Vision 20-2020 Project. As a major stakeholder in cotton/textile industry, it is pertinent for one to honestly advise that the federal government should come up with a categorical policy on clothing.

"This is however not feasible without some measures on the development of the sector. It is not out of place if cotton/ textile are given special attention by establishing, among others, a Cotton Development Bank, which will be responsible for financing and regulating cotton/ textile production in the country."