Nigeria: FG Proposes N500 Billion Bailout For Manufacturers

17 July 2009

Abuja — The Federal Government has proposed the injection of N500 billion into the manufacturing sector of the national economy in order to revive it, just as it has increased the bailout package for the textile industry from N70 billion to N100 billion.

Minister of Commerce and Industry, Chief Achike Udenwa, announced the packaging of the proposal yesterday when he appeared before the Joint Senate Committee on Industries and Agriculture public hearing on the collapse of the textile industry in the country.

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