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Prime Content | 
Can revival of textile sector lead to economic stability in Nigeria?

29 Feb '24
6 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • Nigeria, a key African economy, faces economic challenges despite abundant resources.
  • Inflation, at 30 per cent, exacerbates living costs.
  • Misguided policies and forex reserves shortage worsen the situation.
  • Over-reliance on oil and imports leaves the economy vulnerable.
  • The textile sector, once thriving, struggles due to neglect and import competition.

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