Nigeria’s Cotton Industry Goes Moribund Despite Huge Potential

Others are Kenya with a share of 1.25% valued at $480 thousand, the United Arab Emirates – $380 thousand, Togo – $241 thousand, South Africa – $239 thousand, Netherlands – $189 thousand and Egypt – $165 thousand.Regrettably, in the exportation category of the commodity, Nigeria jumped from $5.59 million in 2019 to $ 15.6 million in 2020.

However, Nigeria which used to be Africa’s leading cotton producer and 12th largest in the world, is not found among the key production players in sub-Saharan Africa as the region is similarly projected to remain the third largest exporter of raw cotton by 2030. Comparatively, Burkina Faso and Mali account for 15 percent of global cotton exports and 75 percent to maintain the lead in West Africa in terms of production and exportation.For Nigeria, records show a downward trend in cotton production from 602,440 metric tonnes in 2010 to 51,000 metric tonnes in 2020.

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Why South Africa is a Key area for growth for the entertainment industry | The Guardian Nigeria News - Nigeria and World NewsFor the most part, the global entertainment industry has been riding a wave over the last 10 to 15 years. In the next year, for instance, the sector is set to reach $2.2 trillion in terms of revenues generated, the highest it’s been for a while. Simply put, the market is booming, and everyone wants to jump on the bandwagon.
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