Nigerian textile industry struggles as imports rise 106.7% in 4yrs

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 75%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

The Nigerian textile industry has continued to struggle as importation of textile products into the country increased by 106.7 percent over a period of four years from N182.5 billion in 2020 to N377.1 billion in 2023, despite several intervention programmes to boost the sector over the years.

Available data from the National Bureau of Statistics shows consistent rise in textile imports from 2020 when it was N182.5 billion, N278.8 billion in 2021, N365.5 billion in 2022, and N377.1 billion in 2023.) has implemented various intervention programmes for the sector over the years, including financial support, training initiatives, and foreign exchange restrictions on textile imports at the official exchange market. But all of these seem not to have any positive impact on the sector.

During the 1970s and early 1980s, Nigeria boasted over 180 textile mills, employing more than one million Nigerians. Among these were United Nigerian Textile Limited, Aswani Textile, Afprint, Asaba Textile Mills, and Edo Textile Mills, to mention a few. In a recent interview granted a news media, the Director General of the Nigerian Textile Manufacturers Association, Hamma Kwajaffa, lamented that the high cost of production has made local textile and apparel industry uncompetitive, and discourages investments.

“90 percent of textile products in Nigerian markets today are imported. The government should revive and invest in the textile industry in order to create 2 million jobs in the country and as well reduce over $4 billion import bill incurred on textile and apparels annually,” he stated.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 5. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인