Textile industry: N70bn bailout not yet released - MAN boss

By Femi Ibirogba

President Umaru Yar’AduaTHE National Chairman, Manufacturing Association of Nigeria (MAN), Mr. Bashir Borodo, has said that the N70 billion bailout announced for the textile industry in 2008 has not been released.

He told the Nigerian Tribune in an interview to find out if the money was released and who were the beneficiaries of the bailout.

Alhaji Borodo said the government always made announcements but getting the announcements implemented was the problem.

“According to my findings, the money promised the textile industry in 2008 to revive the sector has not been released.

“It was just talk-talk. You know that the government always promises, but fulfilling those promises is a problem,” the MAN boss said.