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

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Interviews View All

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

March 2017

March 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