Nigeria’s textile sector, a thriving industry in the 1990s, has crumbled under the weight of cheap Chinese imports, currency depreciation, and poor government support. Once boasting over 150 textile mills and supporting millions of jobs, the industry now has fewer than four functioning factories. Nigeria’s limited access to affordable raw materials, unreliable power supply, and reliance on imports for dyes and chemicals have left local producers unable to compete with China’s integrated, low-cost supply chain. Meanwhile, counterfeit imports mimicking Nigerian designs flood markets, further damaging local credibility. Despite a recent $3.5 billion loan deal aimed at reviving the sector, stakeholders remain skeptical, citing past unfulfilled promises and little transparency regarding the government’s plan for the fund.
Source: DW