Nigeria Can Generate $1bn From Leather-based Export, Says NEPC

Nigeria could generate over $1 billion by 2025 from the leather-based, cotton and clothes sector, the Nigeria Export Promotion Council (NEPC) has stated.

Talking on the stakeholders’ engagement discussion board and exhibition in assessing the alternatives and challenges within the leather-based, garment and attire business, NEPC’s Government Director, Mr Ezra Yakuza, stated the business may enhance its earnings to about 70 per cent within the subsequent few years.

He stated this was additionally anticipated to curb the speed of unemployment. Represented by the Deputy Director, Product Improvement of the council, Mr Macherpson Fred, he stated one of many sectors recognized with big untapped potential is manufacturing/industrial.

“Statistics confirmed that for over twenty years, Asia dominated the worldwide garment manufacturing, with China main the pack as the biggest producer and exporter of apparels and garment with an export turnover of about $26.41billion,” he stated.

He defined that the main manufacturing hub like China, chase after attire and garment exports to realize international market share, cut back unemployment, and diversify its economic system. Ditto some African nations like Ghana, Ethiopia and Kenya who’ve taken the lead within the export of apparels and garment.

Yakuza famous that these known as for concerted efforts to not overlook this latent sub-sector, however reasonably discover and harness the huge alternatives in its folds because it has the potential of creating tens of millions of jobs, lowering the stress on the nation’s international reserves and opening practitioners to international wealth.

“NEPC has been on the forefront of helping and selling the event of export-oriented industries/sub-sectors in the direction of boosting export actions that will increase the nation’s quantity and worth of non-oil export for sustainable and inclusive financial progress,” he added.