THE travails of Nigeria’s textile industry were rehashed recently at a seminar organised by the Nigerian Institute of Social and Economic Research, Ibadan. Forex shortage in ethiopia a once thriving industrial sub-sector that has defied various policy measures to resuscitate, ongoing and other measures suggested signpost some hope.
Apart from smuggling, high costs, lack of power, shortage of locally-sourced raw materials, prohibitive borrowing rates, inconsistent policies and low patronage. Nigeria’s manufacturing sector and the economy. The federal and state governments need to adopt workable, consistent policies and muster the political will to actualise the dream. The World Bank says low income economies like Nigeria should leverage their cheap labour to develop textile industries. Bangladesh, a developing country with a population of 162.