The Nigeria Institute of Social and Economic Research (NISER) has advised the government to be strategic in its ties with the World Trade Organisation (WTO) as the latter’s policies have not revamped the nation’s textile sector. NISER attributed the fall in the number of modern textile firms partly to inconsistent government policies and the WTO agreement.
At its monthly research seminar recently in Ibadan in Oyo state with the theme ‘Competitiveness of the Nigeria Textile Industry’, NISER said the textile industry should be protected and offered incentives to satisfy local demands and compete globally.The Nigeria Institute of Social and Economic Research (NISER) has advised the government to be strategic in its ties with the World Trade Organisation (WTO) as the latter's policies have not revamped the nation's textile sector. NISER attributed the fall in the number of modern textile firms partly to inconsistent government policies and the WTO agreement.#
It also stated that ineffective monetary policies and exchange rate volatility often affected negatively the import of raw materials used in the production of textile products, according to Nigerian media reports.
A senior research fellow from the NISER group, Mr. Bashir Adelowo Wahab, recalled that there were about 128 modern textile firms in Nigeria in the 1980s. These decreased to less than 45 in 2008, with only 33 active in 2015.
The Nigerian Textile Manufacturing Association (MTMA) wants a ban on export of cotton from the country locally-produced cotton was not enough for domestic apparel and textile manufacturers. (DS)
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