Nigerian textile and apparel industry currently under performing amid the influx of cheaper fabrics from China and India with about 30 operational textile mills running at an average of 40 percent of installed capacity, according to Nigeria financial think-tank, relations between Nigeria and Turkey could help revive the Nigerian textile and apparel industry.
Most manufacturers within the industry have cited the high cost of financing as a major hindrance.
According to National Bureau of Statistics, Nigeria spent N24,7 billion (US$130 million) on textile imports in the third quarter of last year, representing a 17 percent decline
The observation was made to coincide with Turkey President, Tayyip Erdogan, led a delegation from his country on a state visit to Nigeria.
First Bank of Nigeria (FBN) Capital said on Thursday the textile industry is presently struggling but measures have been put in place to revive it.
They understand that government officials from Turkey are currently visiting Nigeria. Turkey is an important cotton producer and has a well-developed domestic textiles industry.
Textiles feature in the Central Bank of Nigeria’s circular of June 2015, specifying 41 import items for which foreign currency from official sources is not available.
In 2010 in order to encourage domestic production, government placed a ban on textile importation. However, this led to increased smuggling, FBN Capital noted. Smuggled imported textiles are said to account for over 85 percent of fabrics sold locally.
Researchers have developed a recycling process to break down polyester in blended textiles while preserving cotton and spandex present in…
Researchers have developed a two-step process that can remove up to 99.3% of colour from reactive-dyed cotton while keeping most…
Schülke, Nitto, Indorama Ventures and Polymateria have launched a new biodegradable disposable wash mitt in Germany, Switzerland, Austria and Spain.
Hyosung will present its latest textile innovations made from renewable and recycled resources at Première Vision Paris, taking place from…
Karl Mayer has expanded its RDJ machine range with the new RDJ 6/2 in E 32 gauge to give manufacturers…
Manchester-based clothing manufacturer WAWWA is investing £120,000 in digital manufacturing technology to improve factory productivity and reduce material waste.