Related Keywords: boost employment, diversifty economy, FBN Capital, local financial institution, Nigeria's textile market, Nigerian new administration, reduce pressure on import bill, revenue diversification, revival of textile industry, textile industry performed poorly, to heavy inflow of smuggled textiles
The Nigerian new administration favours the revival of the country's textile and footwear industry as it would play a significantly major role to diversify the economy. Not only could it result in revenue diversification and reduce pressure on the import bill, it could also help boost employment, said FBN Capital, the local financial institution.
The Nigerian Investment Promotion Commission (NIPC) recently announced it would work closely with National Cotton, Textile and Garment (CTG) policy committee to resuscitate the country's textiles industry.
