Home / Knowledge / News / Textiles / Nigeria gears up to revive textile industry
Nigeria gears up to revive textile industry
28
Feb '12
In order to revive the indigenous textile industry, the Federal Government of Nigeria has decided to earmark the 20 percent duty charged on textile imports, for financing the sector.

Minister of Trade and Investment, Olusegun Aganga substantiated the decision during a meeting with top officials of the Nigerian Textile Manufacturers Association (NTMA) in Abuja. NTMA Director-General, Jaiyeola Olanrewaju, and the National President, Ibrahim Igomu, headed the group.

The Minister informed that the 20 percent duty levied on textile imports would be utilized by the Government for revival of all non-operational textile manufacturing units across Nigeria.

He said that the move is aimed at enhancing the productivity of textile units pan Nigeria, mainly as the sector holds great potential for employment and wealth generation.

The levy on textile imports is meant to be given back to the sector, and hence there is no question of doubt about the decision as that is the original purpose behind imposing the duty, he added.

The Minister said the Government is duty-bound to create a conducive atmosphere that will enable the domestic industries to thrive, and the textile industry is a key segment that it is trying to develop, jointly with the stakeholders.

Besides employment generation, the industry also has great potential to generate handsome revenues for Government by way of taxes, he added.

Fibre2fashion News Desk - India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Top executives
Textile industry

It will take some time for the people to change their buying choices

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search