The state of textile Industry and the wellbeing of over 3500 workers who lost their jobs due to the closure of the textile industries have continued to be an issue of concern among the government, stakeholders, and the masses. Over the years, this concern has been related to evolution of crude oil, unavailability of raw materials, infrastructural decay in situation of government interferences and lack of equipment upgrade. Resulting from this have lead to the closure of one hundred and fifty out of one hundred and seventy five textile industries in Nigeria leaving only 25 textile industries working on the mercy of nature.
In a bid to reverse the dwindling fortunes of Textile Industries, the Federal Government intervened with a stimulus package of N70billion to bailout the textile industries, aimed at ensuring the textile industries regain their past glories and continue to be relevant in the economy and development advancement of Nigeria through production of quality and globally competitive goods.
What are the states of textile industry in Nigeria now compared to what it is used to be?
The status of the textile industries now is incomparably to what it is used to be before the evolution of crude oil, the glories of the textile industries are no more. Despite the efforts of the Federal Government to revive the textile industries it looks like the Federal Government have only mocked the textile industries rather than coming to their rescue.
Source : articlesbase
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