By Louis Akwarandu- Lagos
Nigeria’s textile industry is under pressure as imports of textile products skyrocketed by 297.8 percent in just five years—rising from ₦182.53 billion in 2020 to a record ₦726.18 billion in 2024.
Data from the National Bureau of Statistics (NBS) show consistent annual increases: ₦278.8 billion in 2021, ₦365.5 billion in 2022, and ₦377.1 billion in 2023—highlighting Nigeria’s deepening reliance on foreign textiles despite local potential.
An industrial investment expert and CEO of Arise Integrated Industrial Platform (ARISE IIP), Gagan Gupta, believes Nigeria can reverse this trend through bold reforms and strategic infrastructure investment. He spoke recently on the theme “The Journey to Making Africa a Global Manufacturing Hub.”
“Nigeria meets a large share of its textile demand locally. With abundant cotton, a sizable labour force, and a growing market, the country can build competitive value chains and become a key player in the $10.3 billion global apparel export market,” Gupta said.
He also cautioned that without urgent action, the country risks missing out on one of its most promising industrial growth opportunities.
Gupta pointed to persistent challenges: limited access to finance, raw material sourcing difficulties, and the high cost of foreign exchange—factors that hinder production and inflate the cost of imported machinery and inputs.
“These advantages remain dormant due to infrastructural bottlenecks, lack of a clear policy framework, and weak industrial systems,” he explained.
To revive the sector, Gupta called for deliberate steps: modernising production facilities, improving transport networks, securing stable power supply, and increasing access to finance for manufacturers.
He concluded by saying that, “Nigeria must commit to long-term reforms that prioritise value addition, support local enterprises, and integrate the sector into global value chains,” while emphasizing that “Transformation is possible—but it requires aligned policy and investment from both the public and private sectors.”
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