Close Menu
    What's Hot

    CBN Hikes Rate on 364-Day Treasury Bill to 16.73%

    March 4, 2026

    Stock Market Lost N102bn as Investors Dump Dangote, Jaiz Bank

    March 4, 2026

    Tinubu Suspends Cashless Payment at Federal Airports

    March 4, 2026
    Facebook X (Twitter) Instagram
    • Home
    • About Us
    Facebook X (Twitter) Instagram WhatsApp
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, March 5
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    Home - MarketForces News - Federal Government to Revive Textile Industry- Minister
    News

    Federal Government to Revive Textile Industry- Minister

    Julius AlagbeBy Julius AlagbeFebruary 12, 2025Updated:February 14, 2026No Comments3 Mins Read
    Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
    Federal Government To Revive Textile Industry- Minister
    Share
    Facebook Twitter Pinterest Email Copy Link

    Federal Government to Revive Textile Industry- Minister

    The Federal Government has pledged its commitment to revive the textile industry, its value chains, as well as promote made in Nigeria goods. Minister of State for Industry, Trade and Investment, Sen. John Enoh made the pledge on Wednesday in Lagos, during his visit to Sunflag Nigeria Ltd., on a three day industrial tour.

    Enoh noted that key agendas of the President Bola Tinubu’s administration, included economic growth, through manufacturing and job creation. The minister said that several years ago, the textile industry, competed almost fairly with government, in terms of employing Nigerians.

    He commended the textile company for weathering the storms the country had faced, through the years, and assured that the current government was committed to development of the sector.

    “When you say that about two million jobs can be created, that is a bit conservative, and when you talk about 300 containers coming into this country and not officially accounted for, that is not right, and would be addressed.

    “The next door country, Benin Republic have a flourishing textile garment industry, and their target is the Nigerian market.

    “I have the immediate mandate, in terms of the programme of the ministry, to promote made-in-Nigeria goods and services, and my visit here is to assure you that this is a government that is going to, and is able to change this situation of things,” he said.

    Mr Alok Bhardwaj, Managing Director, Sunflag Nigeria Ltd., said the company made use of everything Nigerian; from its people to cotton, wool, threads and yarns, in its production processes.

    He noted that the industry, between 1985 to 1990, had 250,000 employees, with more than 250 companies, producing textiles in Nigeria, and today, had dropped to close to 10,000 employees.

    “You would be surprised to know that we import $6 billion every year of textiles into Nigeria, and Nigeria consumers by doing that, employs 750,000 Chinese and Indian workers in their countries to clothe ourselves,” he said.

    Bhardwaj noted that threats facing the textile industry include the smuggling of second hand clothing into the country, which he said, affected the tailoring end among others, of the textile value chain.

    According to him, close to one million five hundred thousand Nigerian tailors were affected because of the amount of second-hand clothing, coming into the country unabated.

    He called for a level playing field that will put Nigeria goods first, to uphold and protect the country’s manufacturing industry.

    “The employment of our people has a multiplying effect in the economy, and to achieve the growth targets of government, it is very important that we employ our people to do our things for ourselves,” he said. #Federal Government to Revive Textile Industry- Minister

    CBN Opens FX Window for BDC to Stock up at NFEM Rate

    Nigeria Texttile industry
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
    Julius Alagbe
    • Website

    Related Posts

    News

    CBN Hikes Rate on 364-Day Treasury Bill to 16.73%

    March 4, 2026
    News

    Stock Market Lost N102bn as Investors Dump Dangote, Jaiz Bank

    March 4, 2026
    Aviation

    Tinubu Suspends Cashless Payment at Federal Airports

    March 4, 2026
    News

    Nigeria’s Central Bank Boosts Gold Holdings to $3.5 Billion

    March 4, 2026
    FX Market

    Naira Extends Losses, Official Rate Weakens to N1,387

    March 4, 2026
    News

    NGX Index Moderates as Investors Exit Positions

    March 4, 2026
    Add A Comment

    Comments are closed.

    Editors Picks

    CBN Hikes Rate on 364-Day Treasury Bill to 16.73%

    March 4, 2026

    Stock Market Lost N102bn as Investors Dump Dangote, Jaiz Bank

    March 4, 2026

    Tinubu Suspends Cashless Payment at Federal Airports

    March 4, 2026

    Nigeria’s Central Bank Boosts Gold Holdings to $3.5 Billion

    March 4, 2026
    Latest Posts

    CBN Hikes Rate on 364-Day Treasury Bill to 16.73%

    March 4, 2026

    Stock Market Lost N102bn as Investors Dump Dangote, Jaiz Bank

    March 4, 2026

    Tinubu Suspends Cashless Payment at Federal Airports

    March 4, 2026

    Nigeria’s Central Bank Boosts Gold Holdings to $3.5 Billion

    March 4, 2026

    Naira Extends Losses, Official Rate Weakens to N1,387

    March 4, 2026

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    About US
    About US

    MarketForces Africa is a financial information service provider with interest in media, training and research. The media platform provides information about markets, economies, and crypto, forex markets and investment ecosystem.

    Contact Us:
    Suite 4, Felicity Plaza, Freedom Estate Drive, Lagos-Ibadan Express Road, Magboro
    T: . 08076677707, 08052076440

    Facebook X (Twitter) Instagram Pinterest YouTube
    Latest Posts

    CBN Hikes Rate on 364-Day Treasury Bill to 16.73%

    March 4, 2026

    Stock Market Lost N102bn as Investors Dump Dangote, Jaiz Bank

    March 4, 2026

    Tinubu Suspends Cashless Payment at Federal Airports

    March 4, 2026

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2026 Marketforces Africa
    • About
    • Contact us
    • Subscription Plans
    • My account

    Type above and press Enter to search. Press Esc to cancel.