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Stop illegal imports of textiles – Textile trade body

30
Jun '09
Huge imports of textiles has taken its toll on the Nigerian textile industry, blamed the Nigerian Textiles Manufacturers' Association (NTMA), which called for government intervention to stop this.

Local consumers are patronizing more of imported textiles, which is a disadvantage for the local textile manufacturers, said the Director General of NTMA, Jaiyeola Olarenwaju. Smuggling of foreign textiles into the country is also affecting the domestic textile industry, he added.

Poor funding is also one of the reasons affecting the industry, as the government's assurance to revitalize the industry has still not materialized, revealed Mr. Olarenwaju. In addition to this, the stakeholders have yet not received the N70 billion rehabilitation fund that had been announced by the federal government.

High rate of interests charged by the banks worsen the situation in the industry, said the Director General. The industry is still waiting for government's assistance for refurbishing the machinery and to improve the working capital as well, he added.

At present, less than 25 industries are functioning in the country, said the Director General.

Fibre2fashion News Desk - India


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