CPPE Warns Against Textile Import Ban's Economic Impact

Dr. Muda Yusuf, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), issued a public statement regarding the Senate's resolution to ban textile fabric imports.

He expressed that this ban poses a significant threat to Nigeria's N10 trillion garment and tailoring industry, which supports approximately ten million Nigerians. Yusuf argued that the proposed ban would disrupt supply chains and jeopardize livelihoods, advocating instead for structural reforms to enhance competitiveness within the textile industry.

He emphasized that the focus should be on improving domestic production and reducing costs rather than outright prohibitions. Yusuf noted that the textile industry is interconnected with various sectors, including furniture and the broader creative economy, and that a ban would not achieve its intended objectives.

He called for measures to stimulate domestic demand and improve access to affordable financing to revive the textile industry.