National Economy
Saturday, June 7, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Companies & Markets

Union Blames Policy Somersault For Dwindling Textile Industry’s Fortune

by Andrew Ojiezel
4 months ago
in Companies & Markets
Reading Time: 2 mins read
Textile
Share on FacebookShare on TwitterShare on Telegram

Textile union under the aegis of Nigeria Union of Textile, Germent and Tailoring Workers of Nigeria (NUTGTWN) has blamed the dwindling fortune of textile industry on the federal government’s insincerity of purpose, policy summersualt and lipservice to the dwindling fortune of the sector which was one of the largest employers of labour in years past.
Although, the industry is faced with all the multiple obstacles, The textile union is optimistic of creating of more 1.4 million jobs, following the new partnership, “The ongoing partnership with International Cotton Advisory Committee (ICAC) to rejuvenate the nation’s cotton and textile industry is aiming to create over 1.4 million jobs annually,” he noted.
Still irked that, despite Executive Order 003, which was passed into law by government seven yesrs ago, lip-services to the implementation of this Order has limited the growth of the industry.
The president of the National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN), Comrade Peters Godonu Honfu, also blamed the dearth of the sector on near-zero electricity supply.
In a chat with NATIONAL ECONOMY, Comrade Godonu lamented that, despite government promises to revitalise the sector that holds numerous potentials for the economy, not much has happened.
The union helmsman expressed his disappointment over the non-implementation of the federal government. “Though there is an existing importation ban on finished textiles, and though there is Executive Order 003, which is meant to protect domestic manufacturers, smuggling is still crumbling the sector because of lack of implementation of the Order 003,” he stressed.
Data obtained from the National Bureau of Statistics (NBS) from 2019 to 2023 revealed a steady rise in textile imports.
Total textile trade within the period was N1.5 trillion, with imports totaling N1.4 trillion, representing 96.5 per cent, while exports amounted to N50.7 billion (3.5 percent), indicating total textile trade deficit of N1.384 trillion and highlighting a significant reliance on imported textile products.
In 2019, NBS reported that N220.5 billion worth of textile products were imported into the country; N182.5 billion in 2020; N278.8 billion in 2021, and N365.5 billion in 2022.

In a chat with NATIONAL ECONOMY, Mr Olajide Akowe blamed Nigerian textiles over the ‘seemingly unpatriotic’ patronising of smuggling textiles because of low quality and high cost. The imported and smuggled textlles are cheaper. Our Made-in-Nigeria Adire are of low quality and more expensive unlike smuggled ones.”

 

 

You May Like

Entrepreneurs Commend FCMB’s Training Programme

UBA Unveils Upgraded PoS Terminal, Revamped MONI App

ShareTweetShare
Previous Post

Group applauds Matawalle for tackling Zamfara insecurity

Next Post

$12m Springfield Agro Chemical Factory To Revolutionise Local Production

ANOTHER GOOD READ

Companies & Markets

Entrepreneurs Commend FCMB’s Training Programme

2 months ago
UBA Unveils Upgraded PoS Terminal, Revamped MONI App
Companies & Markets

UBA Unveils Upgraded PoS Terminal, Revamped MONI App

2 months ago
NGX Group, CSCS Commit To Gender Equality
Companies & Markets

NGX Group Calls For Strengthened Market Collaboration

2 months ago
Total Capital Expenditure For African Oil & Gas Reaches $43bn
Companies & Markets

Total Capital Expenditure For African Oil & Gas Reaches $43bn

2 months ago
Ramadan: LG Electronics Showcases Smart Cooking With Neo Chef Microwave
Companies & Markets

Ramadan: LG Electronics Showcases Smart Cooking With Neo Chef Microwave

2 months ago
Heineken Increases Shareholding In NB To 72.9% As Revenue Surge To N1.1trn
Companies & Markets

Heineken Increases Shareholding In NB To 72.9% As Revenue Surge To N1.1trn

2 months ago
Next Post
Shetimma To Speak At Zenith Bank’s Tech Fair

$12m Springfield Agro Chemical Factory To Revolutionise Local Production

Most Recent

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

June 3, 2025
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

June 3, 2025
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch

FIRS Entering New Era Of Excellence, Trust — Adedeji

June 3, 2025
JUST-IN: Reps Pass Tax Reform Bills

N250bn Public Expenditures Unaccounted — Reps

June 3, 2025
5 Unicorns In 9 Years, Who Does That?

5 Unicorns In 9 Years, Who Does That?

June 2, 2025
Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

June 2, 2025
2026 World Cup Could Change Football Experience – Neymar

2026 World Cup Could Change Football Experience – Neymar

June 2, 2025
2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

June 2, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy