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REVIVING THE TEXTILE INDUSTRY

December 10, 2019

Agric DigestTrending

The recent report that the number of workers in the textile industry had fallen from 800,000 a few years ago to an insignificant 24,000 has, once again, underscored the urgent need to revive the sub-sector.

With a fixed investment of $4 billion (about #640 billion), the Nigerian textile and garment industry used to be the hub of Nigeria’s economy and second only to South Africa in sub-Saharan Africa. Unfortunately, due to a number of factors including from low capacity utilization, to high influx of cheap products, low exports, among other reasons, the sub-sector has witnessed a steady decline.

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