High black oil prices & fake wax hurt textile industry
11 Jan '06
1 min read
Flooding of the markets by spurious and sub-standard wax and the high cost of black oil ought to be addressed by the Federal Government on priority to arrest the decline of textile industry.
National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) observed that a vital input for the production of real wax (abada) was black oil.
Its prices were raised from N12.21 to N30.40 and on the other hand sub-standard real wax with fake United Nigeria Textile logo was being sold in the market.
President of NUTGTWN, Comrade Reginald Agulanna said company lockouts and job losses were becoming the order of the day as smuggling activities continues unabated.
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