Nigeria aims to produce up to 450,000 metric tons of cotton in three years, as part of efforts to revive the local textile and garment industry, said the apex bank in a statement on Friday.
Up to 300,000 local farmers will be engaged to achieve this aim in 26 out of the 36 states of the country, said the statement by Godwin Emefiele, governor of the Central Bank of Nigeria.
To revive the cotton, textile and garment industry, the bank had supervised the cultivation of 200,000 hectares of hybrid cotton distributed to 200,000 local farmers across the country.
The bank said it also spearheaded the importation of improved cottonseed, adding that 6,000 metric tonnes were imported while additional 2,000 metric tonnes of cotton seeds were sourced locally.
The total expected yield at the end of the current season is 302,440 metric tonnes, it added.