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All That's Utopian Melts Into Asphalt

All That's Utopian Melts Into Asphalt
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Breaking News | Why textile sector remains on brink despite interventions

• Fewer than 25 of over 300 textile companies in operation
• Why Nigeria cannot export raw cotton despite boom
• 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. ....

United States , South Africa , Abuja Federal Capital Territory , Hamma Kwajaffa , Adenike Ogunlesi , Yusuf Yila , John Adaji , Muhammadu Buhari , Nigerian Textile Manufacturers Association , Lagos Chamber , Nigerian Army , Central Bank , Development Finance Department , Garment Union Of Nigeria , National Bureau Of Statistics , World Trade Organisation , National Union Of The Textiles , Executive Order , Why Nigeria , African Growth , Opportunity Act , West Africa , President Muhammadu Buhari , National Bureau , Benin Republic , African Continental Free Trade Area ,