Nigeria will attract $3.5 billion in investment in the textile and clothing sector this year

Nigeria has secured $3.5 billion in investments in the country’s textile, cotton and apparel sector in one year to revive the long-dormant industry, according to Industry, Trade and Investment Minister Doris Uzoka-Anite.

Thanks to this, there will be jobs for both skilled and unskilled workers throughout the country, she added.

Her ministry is also developing a sector revival plan in collaboration with development partners and private sector players, she said recently at a press conference in Abuja to mark President Bola Tinubu’s first year in office.

Nigeria has secured $3.5 billion in investments in the country’s textile, cotton and apparel sector in one year to revitalize the industry, according to Minister of Industry, Trade and Investment Doris Uzoka-Anite. Her ministry is also developing a sector revival plan in cooperation with development partners and private sector entities.

She emphasized the ministry’s commitment to supporting industrialization by issuing import duty exemption certificates to over 50 manufacturers, aimed at supporting expansion and increasing production capacity, domestic media reported.

She added that over 16,000 jobs were created last year through programs and interventions of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Fiber2Fashion Information Desk (DS)