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 FCCPC Shuts Down Chinese Supermarket In Nigeria That Banned Nigerians From Entering VIDEO: Watch Exclusive Designs You Missed At The Just Ended SA Fashion Week... #OOTD: Shams Berry Merges Elegance & Sultriness in Magbrien’s Striking Bustier Ensemble VIDEO: Watch The Moment Two Young Chinese Boys Were Over Excited To See... Muyishime Unleashes The ‘Conlang Collection’: A Bold Step Towards Inclusive Fashion #OOTD: Crochet Like You’ve Never Seen; Witness The Stunning Crochet/Kente Print Look By... #BIKINIBAE: Cute Grenadian Beauty Reysher Is Serving Stunning Swimwear With Unparalleled Grace &... VIDEO: Rihanna Promises Ayra Starr A Verse After Rick Ross Failed To Create... PICS: Top Influencer Krisline Stars in Fabulous ‘SISTERHOOD’ Images Featuring Sierra Leone Influencer... VIDEO: Watch Rihanna Take A Shot At Learning Congolese Language Lingala 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.