Nigerian Newspapers: Textile industry faces total collapse as revival efforts fail

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In Vanguard’s Nigerian Newspapers review programme, Today in the News, Vanguard reports that Nigeria’s textile industry is now gasping for breath following the failure of revival measures, a sustained upsurge in the importation of textile products and a series of adverse monetary policy regimes.

Financial Vanguard findings indicated that decline had set in around 2005 and it had struggled since then despite the growing market size due to the rising population.

The Punch reports that Dangote oil refinery and petrochemicals has accused international oil companies in Nigeria of doing everything to frustrate the survival of the refinery. The newspaper says the Labour Party directorate on mobilisation and integration has denied any plan to dump Peter Obi as its presidential candidate for the 2027 elections.

 

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