It has been confirmed that 25000 jobs have been created due to the grants given to the 52 textile industries and they have started operations again, this was disclosed by the General manager,Operations, Bank Of Industry (BOI) Joseph Babatunde. He said the revival scheme has started yielding results as it has revived some of the jobs that were lost as a result of the closure many years back.

Adding that, over 60 percent of the N100 billion textile revival funds being managed by the bank has been disbursed, raising the hope that the ounce vibrant sector will soon bounce back.

Babatunde said the grants has also been extended to cover manufacturing sector,including cotton production, garments, spinning, processing and printing.He stated further that the grants also re-awaken some textile businesses which would have been close at the moment.

He said the funds can be accessed by operators, the enterpreneur should just have a well packaged bankable proposal and the collateral for huge loans, adding that the collateral will enable the bank to recover the loan as it not for free,it belongs to Nigerians.