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Business News of Friday, 28 July 2023

Source: www.mynigeria.com

Nigeria has only 20 textile companies operational – Senator Jibrin

Senator Walid Jibrin, former PDP BoT Chairman Senator Walid Jibrin, former PDP BoT Chairman

A former Chairman of the Textile Manufacturers Association of Nigeria, Senator Walid Jibrin, has said that only 20 textile industries are currently in operation in the country.

He also said a few years ago, there were 175 textile industries in operation in the country.

Speaking with journalists in Kaduna, Jibrin remarked that the textiles industry used to be the second employer of labour after the government.

However, he decried that, “Unfortunately, the story is different today as the sector is a mirage with a lot of challenges that led to its gradual collapse.”

According to the former chairman of PDP’s Board of Trustees (BoT), epileptic power supply, lack of water and insecurity have contributed to the collapse of the industry.

Nonetheless, he maintained that he was hopeful and optimistic that the textiles would bounce back as far as there’s life.