Home / Knowledge / News / Textiles / Textile intervention fund not of much use to sector
Textile intervention fund not of much use to sector
Jan '11
The textile operators in Nigeria have claimed that the multi-billion naira textile intervention fund may not deliver significant results and may not aid in the revival of the textile sector as per the estimations.

They stated that, Nigeria is already at disadvantage owing to the absence of comparative advantage in textile production.

A top official of a leading textile group said that, it would be better for the country to divert its resources to other sectors where the country possesses better competitive advantage.

He said that, as they received some suggestions to opt for the fund, he countered these suggestions by stating that, they need to consider the dynamics. There is no scope for the Nigerian textile mills to compete with the textile firms of India or China.

The Federal Government constituted this fund in 2009 with an intention to make available the textile operators with cheap funds so as to drive them back to the sector.

This was based on the statistics that the textile sector could be revamped to once again become the largest employment generating sector of the country, just like it was in the past.

The official even stated that, it is not only the Nigerian textile sector that is being hit, but the European textile firms too are finding it difficult to stand in competition with Asian products in terms of price.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

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...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

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

Suresh Patel
Sidwin Fabric

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

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


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