spot_img
spot_img
Bruckner Textile Machinery
Ready To Show textile and Fashion Expo
spot_img

No Fewer than 120 Textile Companies in Nigeria have Ceased to Exist

This after the government pumped billions of public funds to rescue them. The Nigerian government has floated a series of funding schemes totalling over $1.18bn in the last 30 years to salvage the local textile industry, according to public information from government institutions, including the Central Bank of Nigeria.

Olusegun Obasanjo’s administration (1999-2007) launched a Textile Development Fund to revive the ailing industry. This was followed by a N100bn Cotton, Textile and Garment Fund during the tenure of the Musa Yar’adua/Goodluck Jonathan government (2007-2015).

At the peak of their glory in the late 80s, about 127 textile firms scattered across the major industrial hubs in Lagos, Kano, Kaduna, Benin in the old Bendel State and Aba in Abia State were busy churning out African print fabrics into the market.

Prominent amongst them were the Aswani Textile Mills in Isolo, Lagos; United Nigerian Textile Limited, Kaduna; Afprint Nigeria Plc, Isolo, Lagos; Nigerian Textile Mills Plc on Oba Akran Avenue, Ikeja, Lagos; Aba Textile Mills, Abia; Asaba Textile Mills, Delta State; Edo Textile Mills, African Textile Manufacturers Ltd. and Tofa Textile Ltd. in Kano. However, the tide turned in the 90s with the opening of the nation’s borders to foreign fabrics, especially from China, Bangladesh and India.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img

Related News

Results of the 28th ITMF Global Textile Industry Survey

The business situation has slightly improved in September but...

FESPA Middle East Advances Regional Printing Industry Through Global Expertise and Reinvestment Programme

• FESPA’s international Profit for Purpose initiative has reinvested...

Glo-Djigbé Industrial Zone Makes First Export of ‘Made in Benin’ Garments for U.S. Polo Assn.

The Glo-Djigbé Industrial Zone (GDIZ) has successfully exported its...

Turkish Textile and Garment Industry Faces Challenges but Remains Resilient

The Turkish textile, garment, and apparel industries have been...

Aid by Trade Foundation Joins International Alliance for Sustainable Cotton Production in Chad

The Aid by Trade Foundation (AbTF) has joined the...

AbTF Publishes Independent Verification Results for Cotton made in Africa’s Standards

The Aid by Trade Foundation (AbTF) is releasing the...

Top Textile Companies in Azerbaijan

The Evolution of Azerbaijan's Textile Industry Azerbaijan's textile industry has...

Iran’s Unique Textile Industry Advantages

In recent years, Iran has made significant strides in...
×