Aliko Dangote, the Chairman of the Dangote Group, has voiced concerns over the substantial financial losses incurred in Nigeria’s textile industry. Speaking at a recent economic summit, Dangote highlighted the billions of naira worth of investments that have been lost due to various challenges facing the sector.
“The textile industry in Nigeria has seen a significant decline, with billions of naira in investments wasted,” Dangote stated. He pointed to issues such as inconsistent government policies, inadequate infrastructure, and competition from imported textiles as key factors contributing to the industry’s downfall.
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He further stressed the urgent need for a strategic approach to revitalize the sector, emphasizing the potential for job creation and economic growth. “Reviving the textile industry should be a priority. With the right support and policies, we can restore its former glory and make it a major contributor to the economy once again,” Dangote added.
His comments have sparked discussions among industry stakeholders and policymakers, calling for immediate actions to address the problems and rejuvenate Nigeria’s textile industry.
