• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, October 22, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FG, BoI Partner To Curb $4bn Annual Clothing Imports

by Mark Itsibor
7 months ago
in News
boi
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has announced plans to collaborate with the Bank of Industry (BoI) and other stakeholders to tackle the estimated $4 billion Nigerians spend annually on imported clothing, as part of broader efforts to resuscitate the country’s ailing garment and textile sector.

Advertisement

Minister of State for Industry, Trade and Investment, John Enoh, who disclosed this, said the government would also work closely with key financial institutions to ease access to finance and machinery for local garment and textile enterprises. He emphasized the government’s renewed commitment to reviving the comatose textile industry and boosting Made-in-Nigeria goods.

Enoh acknowledged the pressing challenges of infrastructure and finance that have long plagued the sector. However, he noted that the recently launched Industrial Revolution Work Group would be instrumental in tailoring targeted interventions to address these bottlenecks.

Advertisement

“We must ask ourselves: do we prioritise cotton, textile, or garments? The reality is that garments stimulate the entire chain,” he said, citing countries like Bangladesh and Kenya, which developed strong garment export markets before investing in upstream production.

Speaking at a stakeholders’ forum themed “Co-Creating Solutions to Grow CTG Industry in Nigeria”, participants emphasized the urgency of finalizing a revival roadmap for the industry. They decried inconsistent policies that have crippled growth and called for stable long-term planning.

Textile industry expert, Navdeep Sodhi of Afroconsulting Trade and Services Limited, described the sector as a cornerstone for development in emerging economies. He stated that globally, over 100 million people are directly employed in textiles and clothing, with millions more in the value chain.

RELATED NEWS

Court Sentences Widow For Cocaine Trafficking

You Came Prepared For Governance, Ododo Tells Oyebanji

We’ll Integrate Digital Tech-driven Inclusion — Abdulrrahman

2027: Northern Leaders Plan To Visit Afenifere

Nigeria, he said, leads the ECOWAS sub-region with a textile market worth about $7 billion—yet more than 90 percent is dominated by cheap imports entering through grey channels.

“This trend robs Nigeria of significant revenue and employment opportunities,” Sodhi said. He called for a national vision for 2035 to rebuild a $10 billion textile and clothing industry, backed by strong political will. He also advocated for incentives including VAT and import duty holidays, and measures to improve cost competitiveness and ensure affordability of locally produced textiles.

Also speaking, president of the Garment and Accessories Manufacturers Association of Nigeria, Adenike Ogunlesi, lamented the heavy dependence on imported clothing. Despite a domestic apparel market valued at $6.8 billion, she noted that Nigeria’s ready-to-wear segment contributes a mere two percent to the nation’s GDP.

“All past efforts to revive the industry have fallen short,” Ogunlesi said. “If we could capture just 10 percent of Bangladesh’s export market, we’d generate $3.3 billion in exports and create over a million jobs here.”

To turn the tide, stakeholders urged the government to consider policy models from neighbouring countries that offer concessional power to textile manufacturers. They stressed the need to reactivate the Cotton, Textile and Garment (CTG) Fund under BoI and invest in world-class industrial parks to accommodate integrated factories. Such steps, they argued, would help retool existing firms and attract fresh investment into the sector.

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShare10168Tweet6355Share

OTHER NEWS UPDATES

Lawyers Raise Alarm Over ‘Gradual Desecration’ Of Legal Profession In Rivers
News

Court Sentences Widow For Cocaine Trafficking

2 minutes ago
Japa: Ododo Approves N300,000 Monthly Allowance For Medical Doctors In Kogi
News

You Came Prepared For Governance, Ododo Tells Oyebanji

5 minutes ago
News

We’ll Integrate Digital Tech-driven Inclusion — Abdulrrahman

8 minutes ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Court Sentences Widow For Cocaine Trafficking

2 minutes ago

2027: Lagos APC Stakeholders Endorse Tinubu For Second Term

3 minutes ago

You Came Prepared For Governance, Ododo Tells Oyebanji

5 minutes ago

We’ll Integrate Digital Tech-driven Inclusion — Abdulrrahman

8 minutes ago

2027: Northern Leaders Plan To Visit Afenifere

8 minutes ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.