Access to finance, manufacturing hubs will unlock textile industry’s potential
Improved access to finance, capacity building and creation of a network of manufacturing hubs, as well as constant electricity supply among others have been identified as enablers that would unlock the growth potential of Nigeria’s ailing Cotton, Textile and Garment (CTG) sector.
This was the view expressed by speakers at the inaugural edition of the Africa Fashion Week Textile and Garment manufacturing conference on Friday, 1 July 2016 in Lagos. The theme of the conference which had in attendance policy makers, development finance institutions, bilateral trade institutions, fashion entrepreneurs and manufacturers was “Making Nigeria the Fashion Hub of Africa.”
In his welcome address, Chairman of the conference and President, Nigerian-British Chamber of Commerce (NBBC), Mr. Dapo Adelegan, disclosed that the textile industry is the 2nd largest industry in any nation. Proclaiming that the future of the industry in Nigeria is bright, he urged that the conference should be used as a platform to encourage investment in the CTG sector which will ultimately, boost the GDP of the country.
Declaring the conference open, the Minister of State for Industry, Trade and Investment, Mrs. Aisha Abubakar, said the federal government is fully committed to reviving the CTG sector of the manufacturing industry and would also support all parts of its value chain of which fashion is one.
Speaking on the need for the conference, Founder, Africa Fashion week Nigeria, Ms Ronke Ademiluyi said; “After six years of creating opportunities for Nigerian designers to excel on the global stage, we were compelled to commit resources to the development of the local fashion industry value chain. Without a thriving local value chain, we will be unable to translate the runway success of our designers and fashion entrepreneurs to job creation and shared prosperity for our nation. Our commitment is to improved access to finance for designers, capacity development programmes and establishment of manufacturing hubs.”
The Africa Fashion Week Textile and Manufacturing conference is the primary activity of the first day of Africa Fashion Week Nigeria. Organised by AFWL Africa Concepts, the conference aims to redefine textile and garment production processes in Nigeria.
