Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 236 The textile, apparel and footwear sub-sector remains the second largest contributor to Nigeria’s manufacturing (after food, beverage and tobacco). It posted total output of N383bn (US$1.3bn) in Q4 2017 or 23.3% of manufacturing GDP. The segment grew by 1.6% y/y in Q4 2017, compared with 1.1% recorded in the corresponding period of the previous year (see chart). Given Nigeria’s huge appetite for fashion and related industries, the segment is still performing well below its full potential. Industry sources suggest that the country’s annual import bill for textiles and ready-to-wear apparel is US$4bn. Meanwhile, trade statistics from the NBS tell a different story, with imports of textile and clothing items of N37bn (US$121m) in Q4. Despite the naira depreciation, there is still an influx of imported ready-to-wear garments. The Nigerian Textile Manufacturers Association estimates an annual bill of US$1.2bn from smuggled apparel. There are concerns around the recent signing of the pact forming the African Continental Free Trade Area (AfCFTA) in Kigali. Stakeholders within Nigeria’s textile, apparel and footwear industry are convinced that if the FGN signs this agreement, it would have an adverse effect as it could accelerate the importation of cheaper imported textiles and garments. We understand that the FGN has kicked off the creation of special economic zones (SEZs), starting with a zone for garment manufacturing. On a macro level, this should attract investment within the sector, boost output and assist with easing pressure on the job market. Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail olu Fashion Blogger, Event's Manager and Pr Consultant, I am Bashiru More For You Cameroonian UFC champion Francis Ngannou’s 15 Month Old Son Dies #fGSTYLE: Tips On How To Color Code With Your Lover; The African Way #OOTD: Simply Tacha Is Goes Beyond Fierce In Her Medlin Boss Red Fringed... Looking For Ghanaian Kente Bridal Inspiration? Look No Further Nanice Gorgeous AI Wedding... #fGSTYLE: From The Church To The Lounge; Treat Your Sundays With These Trendy... #OOTD: Queen Of Afrobeats Yemi Alade Proves She’s Still The Queen Of African... #BeautyOfTheWeek: Check Out Stunning Images Of SA’s Vitiligo Super Star Yolanda Monyai From... VIDEOS: Tunis Fashion Week 2024 Ended With A Bang, Watch Snippets & See... “There Is A Risk Europe Could Die” Macron Speaks Shortly After Losing Control... PICS: “A Bald Woman Knows Her Kingdom” Gorgeous Top African Model Ayen Monica... Leave a Comment Cancel ReplyYou must be logged in to post a comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.