Nigerian textile industry in shambles
TradeInvestNigeria Staff
Posted on: Fri, 07 Dec 2007
The Nigerian Textile Manufacturers Association (NTMA) National President, Walid Jubrin, said the country's textile industry is in a desperate situation.
Jubrin said there is a great need for the development of Nigeria's textile production. The number of textile industries has over the years declined from 200 to 28.
TradeInvestNigeria Staff
Posted on: Fri, 07 Dec 2007
The Nigerian Textile Manufacturers Association (NTMA) National President, Walid Jubrin, said the country's textile industry is in a desperate situation.
Jubrin said there is a great need for the development of Nigeria's textile production. The number of textile industries has over the years declined from 200 to 28.
According to Jubrin the major challenges facing the industry are the smuggling of textiles into Nigeria, unreliable electricity supply and the high prices of machinery and diesel.
He added that the Ministry of Commerce and Industry's recommendations to the federal government, regarding the textile sector, have not delivered any tangible results.
UBA Plc, through NEXIM Bank, recently gave the textile industry a lifeline in the shape of a N70-billion loan.
Jubrin said that most members of the NTMA have applied for the loan.
