Home / Knowledge / News / Textiles / Expert identifies ills affecting textile sector
Expert identifies ills affecting textile sector
22
Aug '09
According to Dr Adesanmi Felix Adeduro, who is the Managing Director of Banquaires Facilities International, a company involved in the promotion of development in African countries has identified a multitude of factors responsible for the de-growth of the textile industry in Nigeria.

He said the biggest bane was the obsolete textile machinery from the early 1960's which were still operational in most of the mills, which consumed a lot of electricity and could not stand up to the cost competitiveness of the imported textile and apparel goods.

He further mentioned that bank interest rates were the highest from amongst all countries in the world, reaching up to 35 percent per annum, which makes operations of any industrial units economic unviable and breakeven impossible.

He was optimistic that the international conference on the textile industry, which his company is organising in September, would address these issues and put textile manufacturers in the country on the path to glory.

The need of the hour is to have an industrial policy, which could help solve the ills affecting the textile sector, like poor roads, multiplicity of taxes and undependable electricity, etc, which could help the domestic industry to stand up to competition from the imported goods, he ended by saying.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: AWI

Textiles | On 20th Jan 2017

Australian wool EMI at highest ever level in Au$ terms

The Eastern Market Indicator (EMI) managed to forge ahead by a...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Apparel/Garments | On 20th Jan 2017

Fashion etailer Fynd to offer Yepme product offerings

Online fashion retailer Fynd has signed a partnership with Yepme,...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search