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Related Keywords: Dutch textile and design company, foreseeing an end-to-end involvement, from cotton sourcing to retail, held high level discussion, Minister of Finance, Mrs Kemi Adeosun, Nigerian cotton textile industry, Nigerian Textile industry, over proposed investment, Vlisco Group

Dutch textile and design company, Vlisco Group, foreseeing an end-to-end involvement in the Nigerian textile industry from cotton sourcing to retail held high-level discussion on Tuesday with the Minister of Finance, Mrs Kemi Adeosun, over its proposed investment in the Nigerian cotton textile industry.

Mr David Suddens, Chief Executive Officer of Vlisco group who led the delegation to the meeting with the minister in Abuja, said that the investment would boost growth and create jobs across the entire value-chain from cotton to fashion.

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.

Related Keywords: curb textile dumping, formulate protectionist policy, GES scheme on cotton, influx foreign textiles, NAMB, Nigerian Textile industry, sustain growth, textile and garments funds

The National Association of Microfinance Banks (NAMB) urged the Federal government of Nigeria to formulate and embark on protectionist policy that will curb large scale textile dumping and smuggling into the countries and enhance the development and sustained growth of the nation’s textile industry. It could be a major solution to the threats the Nigerian textile industry is presently facing.

Related Keywords: curb smuggling of textile material, electricity supply, formuation of protectionist policy, losing revenue in taxes, Nigerian Textile industry, raw materials, textile revival intervention fund, urge government

Nigerian textile industry urging the government to find a win-a-win solution to curb the smuggling activities of textile materials into the country due to which the economy is losing so much in terms of revenue in taxes.

Also as a result of the smuggling activities, the 100b textile revival intervention fund introduced by the federal government will not be able to achieve much. The cost of manufacturing textiles in Nigeria is too high, allowing room for cheap foreign goods to be imported.

Related Keywords: annually, import, imported from China, Issa Aremu, low cost, market, mismanagement, new textile policy, Nigeria, Nigerian government, Nigerian Textile industry, NLC, occupy 90 percent, smuggled products, textile and garment, without paying taxes

Textile and garments worth N300 billion being annually imported into Nigeria without paying duties or taxes. This was revealed by Issa Aremu, the General-Secretary of the National Union of Textile, Garment and Tailoring Workers of Nigeria in llorin, the Kwara State Capital at the 26th National Education Conference of the Union. He is also the vice president of the Nigeria Labour Congress (NLC).

Related Keywords: anti-counterfeit conference, counterfeiter, fake, jobless, Nigerian industries, Nigerian Textile industry, SON, Standard Organization of Nigeria, substandard products

The influx of fake and substandard products into the country is responsible to the collapse of many industries in Nigeria, this has rendered over a million Nigerians jobless in the textile industry alone, as a result of activities of counterfeiters, according to the Director-General of the Standard Organization of Nigeria (SON), Dr Joseph Odumodu.
 

Related Keywords: Nigerian Textile industry, Pakistani investors

Pakistan investors willing to take over Kaduna Textile Limited (KTL), Notex and Finetex, the Nigerian textile industry which are facing problem as it can product only 10 percent capacity. The potential investors had been told of challenges faced by these textile companies. The physical inspection of the companies has been done and negotiations are on, said Garuba Salawa, director-general, Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA).

Related Keywords: Nigerian Textile industry, texile

To up lift the Nigerian textile industry out of the woe will involve change of tactics by operators and government. Constant placing of blame at the doorsteps of government by operators without changing business tactics and models to suit international standards cannot uplift the textile sector proposed Stakeholders in the private sector.

On the other hand, they are of the opinion that government’s inclination to sink money into sector, without conscious efforts to improve infrastructure, will only amount to waste of funds and resources.