Nigerian textile industry has been struggling to survive and is in pitiable state, especially due to impact of global recession and internal issues like lack of liquidity as well as inadequate power supply.
Recognizing this, Manufacturers Association of Nigeria (MAN) recently urged the Senate to declare a state of emergency in the industry soon.
Vice president of MAN, Mr Walid Jibrin, explained that this move is a vital step so as to avoid the complete collapse of the industry that is worth US $1.3 billion foreign exchange per year.
He informed that over 175 textile enterprises had closed down, leaving more than 250,000 workers jobless, due to poor power and water supply, high cost of fuel, and massive smuggling of counterfeit products into the country from Asia.
He observed that currently, only 25 of the total number of the textile factories are working, that too only at 30 percent capacity, or even below.
The Vice President even called for aggressive measures to control influx of fake and smuggled products. Support from Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences (ICPC), Standards Organisation of Nigeria (SON) and the customs police is also required for this mission.
He sought intervention from the National Assembly for smooth issuance of N70 billion textile loan, which the Government has promised.
Source: www.fibre2fashion.com
