The textile manufacturers across Nigeria have urged the government to reduce the exchange rate for the sector.
Ambi Karu, President of Textile, Garments & Tailoring Senior Staff Association of Nigeria, said that owing to problems in sourcing foreign exchange at reasonable rates, many investors were not able to import machineries and spare parts.
He further added that this, eventually, was responsible for the poor state of the Nigerian textile industry.
Reiterating further, the President of the Association said that the garment manufacturers were struggling to access foreign exchange due to its huge cost as well as its scarcity.
Reportedly, over 200 textile companies have closed down due to these challenges; additionally several others have either minimised the strength of their staff or reduced the salary of the workers.
Lack of adequate power has also been a reason for the closure of some factories. Substantiating on this, Karu said that around 35 per cent of apparel and textile manufacturing expenses were energy-related and therefore there wasn’t anything wrong if the government could give a concession of 90 per cent on the cost of generated power.
Bharat Tex Special Report 2026 
