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EUR 8.88 For Business Accounts Only

Good Morning Nigeria: Neat needlework required

​Neat needlework required

Today we turn our attention to Nigeria’s textile and apparel industry. Industry sources suggest that there are about 30 operational textile mills which are running at an average of 40% of installed capacity. The influx of cheaper fabrics from China and India has been highlighted as one of the reasons for underperformance in this industry. Based on trade data from the National Bureau of Statistics, Nigeria spent N24.7bn (US$130m) on textile imports in Q3 2015. This represented a 17% decline in naira terms from the N29.8bn recorded in the corresponding period of the previous year. 

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FBNQuest

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