According to the “Slammer” report, the Senate on Tuesday called on the federal government to ban the import of textiles within five years to allow local companies to produce textiles. The Senate also called on the federal government to provide necessary infrastructure, especially power supply to local textile companies to reduce the cost of the textile industry, provide preferential loans and loan facilities to local textile companies.
Senator Kabir Bakiya proposed the “urgent need to transform the country’s sluggish textile industry” motion at the plenary meeting. He pointed out that the textile industry had been in The manufacturing industry plays an important role in the Nigerian economy, especially in the 1960s and 1970s. There were more than 140 companies and it grew at an annual rate of 67%. By 1991, it employed more than 25% of workers in the manufacturing sector. At that time, weaving was the highest-paying profession outside the civil service. In the past two decades, textile companies have experienced a massive decline and textile workers have been laid off in large numbers. Senator Robert Porofis said textile imports were to blame for the downturn in the textile industry.
Senate President Ahmed Lawan believes that Nigeria has signed the African Continental Free Trade Agreement and cannot easily give up international trade opportunities and must improve its domestic industry competition. force to prepare for possible industrial shocks.
