Textile imports into Nigeria more than doubled in two years, hitting a 15-high despite efforts to revive the sector.
Data from the National Bureau of Statistics (NBS) shows that the importation of textile and textile articles rose by 100.3 per cent to N365.5 billion in 2022, the highest in at least 15 years, from N182.5 billion in 2020.
The last time the textile, apparels and footwear subsector recorded a positive growth was in 2018, data obtained from the NBS indicates.
Since then, the federal government, through the Central Bank of Nigeria (CBN), has rolled out several intervention programmes, including provision of financial support, training and foreign exchange restrictions for all forms of textile materials at the official exchange market, importation of textiles products.
