Related Keywords: competitive power tariffs, cotton and textile value chain, currently spends over USD four billion, export to ECOWAS market, importation of fake, imported textile, incentive package, measures necessary to revive the industry, Nigerian Textile industry, NTMA, other ready made clothings, potential to produce for local market, substandard textiles
Nigeria has the potential to produce for the local market and also export to the Economic Community of West African States (ECOWAS) market of 175 million people, as well as to the developed world but of which various measures have become absolutely necessary to revive the textile industry. At present Nigeria spends over $4 billion, about N1.32 trillion, yearly on imported textile and other ready-made clothings.
