The Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Mr Segun Awolowo, has assured that given the steps being taken to improve the
Nigeria to exit dependence on oil revenue in 10 years — Awolowo vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
• Fewer than 25 of over 300 textile companies in operation
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• With consistent policies, Nigeria has huge potential, says Ogunlesi
• WTO exposed Nigerians to cheaper textiles
Despite years of intervention, Nigeria’s textile industry is a departure from the ideal, owing to challenges of huge appetite for importation, poor patronage, policy implementation and a broken value-chain.
According to stakeholders, if only 10 per cent of the yearly import bill of $4 billion textile fabrics is re-invested into the textile industry, the country would be a net exporter and expand its revenue from programmes like the African Growth and Opportunity Act (AGOA) of the United States.