Nigeria Issue 30 Billion As Part Of Textile Revitalization Programme
Nigeria
The Industrial Bank (BoI) recently announced the issuance of 30 billion Na as 100 billion n.
Spin
Part of the revitalization programme.
The national textile Union and Nigeria weaving Association welcome this.
The Nigeria government recently announced the establishment of a committee to reassess and adopt an integrated textile industry recovery plan.
Experts called on provincial governors to ensure that the recovery plan is used properly and help the federal government to implement these measures.
Supplement:
Early last week, southern Africa
clothing
The textile workers union (SACTWU) and the retailer, wolfsky Woolworths (WHL), convened an emergency meeting.
They want to discuss the closure of the unsuspenable underwear companies, a underwear and swimsuit factory in Cape Town, an important domestic supplier of WHL.
Last week, textile and Garment Group, Seardel investment company (SER) closed the underwear company. The underwear factory is a subsidiary of the group. The reason is that the loss is increasing, causing the company to lose 813 permanent jobs.
The southern African clothing and textile workers' Union (SACTWU) said that in view of the current downturn in the economic situation and the recent loss of job opportunities, if factory closures would have a negative impact, job loss has hit the peak in the past five years.
Sactwu also pointed out that downstream industries will show negative consequences.
In addition, the closure of factories will cause 813 people to lose their jobs, most of whom are women.
Every worker has to feed at least 5 people, so the more than 4000 people will suddenly lose their living resources.
Sactwu is currently awaiting the reply meeting of Woolworths.
They believe that general retailers, especially Woolworths, can help prevent more job losses.
Seardel has begun discussions with Sactwu and expects the affected departments to be closed in November 2010.
Queen said that various efforts will be made to fulfill orders at hand.
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