The Ogun Department of Industry, Trade and Investment plan to take advantage of the government’s current policy to encourage the use of Adire’s clothing in schools by setting up a clothing institute in fiscal 2021 that will allow entrepreneurs to produce more to export duty-free products to the United States under the Act. -The African Growth and Opportunity Act (AGOA).
The ministry’s commissioner, Ms Kikelomo Longe, made this point clear when she presented the ministry’s budget proposal for 2021 at the State Finance Council meeting for 2021-2023. Medium-term framework and budget for 2021 in the Obas complex, Oke-Mosan, Abeokuta.
She said the clothing institute would work in partnership with the Nigerian Export Promotion Council (NEPC), create more job opportunities for unemployed youth,s and gain currency for the country’s rapid economic growth.
Ms. Longe added that as part of the effort to create a conducive environment and simplify business operations in the country, the ministry also intends to modernize the Onianganjangan Technology Incubation Center and prepare general funds for cosmetics and soaps and detergents to achieve the latest technological advances that will improve the whole business. small business and get certified more easily.
The Commissioner added that through the public-private partnership, the ministry will ensure the complete start-up of the cashew processing machines that NEPC has donated to the Imasayi Cashew Production Association.
She added that the demolished part of the state-owned exhibition complex in Abeokuta will also be reconstructed to ensure the Gateway International Trade Fair 2021 takes place in place to boost trade and investment opportunities.
Ms Longe said the ministry proposed a total of N 731,932,191.10, which is 62.80 percent for capital expenditures and N 433,538,374.80 percent as 37.20 percent for recurring costs, while N1, 225, 000, 000 is expected to be generated as revenue.
Regarding the ministry’s revenue target for October 2020, she noted that 89.3 percent had been achieved and was optimistic that the ministry would reach its full target before the end of the year.
