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Textile: Nigeria’s Dying Goldmine

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News Wellness

Textile: Nigeria’s Dying Goldmine

“The Nigerian textile industry, which was once a vibrant sector of the Nigerian economy, is gradually grinding to a halt. Despite government promises to revitalise the sector that holds numerous potentials for the economy, not much has happened. Nigerians who are not aware of the forces that have brought the once flourishing industry to its knees are wondering what might have struck the sector. Fred Itua examines the factors behind the rot in the industry.

In any developed or developing economy, the indices used in judging growth is primarily based on the producing power of that country. Industries form the bulk of these indices. In Nigeria for instance, more than 80% of all finished consumer products are imported.

Nigeria relies more on import while its once vibrant industries are facing near extinction. The textile industry particularly attracts serious public debate basically because of the pivotal role it played in stemming the tide of unemployment between late 1950s and early 1990s.

The first modern textile industry in Nigeria, the Kaduna Textile Mill, started production in 1956. The primary reason for setting up the mill was to process the cotton being produced at the time, in the northern part of the country. By the 70s and the 80s, the Nigerian textile industry had grown to become the third largest in Africa. A report by the United Nations

University (UNU) for instance stated in 1987 that there were 37 textile firms in the country, operating 716,000 spindles and 17,541 looms. This was the golden period of Nigeria’s textile industry. Between 1985 and 1991, it recorded an annual growth of 67%, and as at 1991, it employed about 25% of the workers in the manufacturing sector. Sadly, this once cherished national cash cow is now at the verge of collapse, due to a number of factors.

One of the factors that has become a thorn in the flesh of the industry has to do with fibre. . .”

Full story on Leadership.ng.

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Founded in 2007, Ladybrille® Magazine is a California based pioneer digital publication demystifying the image of Africans in the west through contemporary African fashion and celebrating the brilliant woman in business and leadership, with an emphasis on the African woman in the diaspora. Our coverage includes stories on capital, access to markets, expertise, hiring and retention, sales, marketing, and promotions.

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