<< Back             Poser >> Decline in textile sector persists as GDP contribution falls 3.6% in 2yrs By Yinka Kolawole Activities in Nigeria’s cotton, textile and garment industry continued to trend downward in 2025, with the industry’s contribution to the nation’s Gross Domestic Product, GDP, declining to N4.384 trillion, reflecting persistent structural challenges confronting the sector. Data from the National Bureau of Statistics (NBS) shows that the sector’s output has recorded a steady decline over the past three years. From N4.548 trillion in 2023, the contribution dropped to N4.476 trillion in 2024, before falling further to N4.384 trillion in 2025. This represents a 3.6 per cent decline between 2023 and 2025. The textile sector, once a major economic pillar with over 180 textile mills in the 1980s, is currently in a state of severe decline, with fewer than 20 mills operational. Industry analysts attribute the development to a combination of high production costs, unstable power supply, foreign exchange constraints and rising influx of cheaper imported textiles, which continue to squeeze local manufacturers. The latest figures indicate that the sector lost about N164 billion in output value within the two-year period, highlighting the pressure on domestic operators struggling to remain competitive. Operators have repeatedly warned that the operating environment for textile manufacturers has worsened, forcing several firms to scale down production while others operate far below installed capacity. Meanwhile, the federal government has initiated steps to rejuvenate the industry with the unveiling of the Nigeria Industrial Policy 2025, including establishing a Cotton, Textile and Garment Development Board. There is also a push to enforce policies like Executive Order 003, which promotes the patronage of locally produced textiles by government agencies. The National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN) recently commended the move by the government to revive the industry. In a statement, President of NUTGTWN, Peters Godonu, described the proposed board as a landmark initiative signalling government’s commitment to addressing longstanding structural challenges in the sector. “These bold and strategic initiatives represent far-reaching measures aimed at accelerating Nigeria’s industrialisation drive and revamping the once vibrant but now challenged textile and garment industry,” he stated. Vanguard Business News	Dangote Refinery drives historic shift as Nigeria becomes net petrol exporter The landmark development marks a decisive turnaround for Nigeria, Africa’s largest oil producer, which for decades depended heavily on imported refined petroleum products. Ghana government misses target in latest Treasury Bill auction The Ghana government has missed its borrowing target in the latest Treasury Bill auction, recording a shortfall in the total amount accepted from the market. Experts call for transparency in Ghana’s petroleum revenue management The annual report of the Public Interest and Accountability Committee (PIAC) for 2025 has thrown a spotlight on Ghana's oil and gas sector, with experts calling for improved transparency and accountability in the management of the country's petroleum revenues. Stakeholders push for stronger coordination to transform Ghana’s rice industry The Competitive African Rice Platform (CARP) Ghana, has convened its maiden stakeholder policy dialogue in Tamale to promote coordinated efforts aimed at strengthening Ghana’s rice value chain. Stock market maintains uptrend as investors gain N1.4trn in 4 days By Peter Egwuatu   The Nigerian stock market extended its bullish momentum, Week-on-Week, WoW, at the close of trading last week , as sustained institutional demand for large-cap and fundamentally resilient stocks continued to drive the Nigerian Exchange Limited, NGX benchmark Index, All Share Index, ASI, and market capitalisation  higher. Specifically, investors garnered N1.359 trillion from their […] Nigeria misses OPEC quota, produces 1.38m bpd in March In its March 2026 Monthly Oil Market Report (MOMR), OPEC stated that the figures were based on data obtained through direct communication with Nigerian authorities.