The National Economic Council on Thursday approved the establishment of a Cotton, Textile and Garment Development Board to propose new strategies for agribusiness expansion and livestock transformation, which are expected to generate up to $90bn in economic value by 2035.

The plan is intended to “reposition Nigeria’s economy and tackle

insecurity at its roots,” according to a statement signed by the Senior Special Assistant on Media and Communication to the Vice President, Stanley Nkwocha.

The resolution followed the 149th NEC meeting at the Presidential Villa, Abuja. 

NEC is chaired by Vice President Kashim Shettima, with the Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria, the Minister of Finance, and other co-opted government officials as members