Nigeria's $6 Billion Textile Import Crisis Addressed

John Owan Enoh, the Minister of State for Industry, disclosed that Nigeria currently spends $6 billion annually on textile imports. He emphasized the urgent need to revive the cotton, textile, and garment (CTG) sector to conserve foreign exchange and create job opportunities for Nigerians.

Enoh made these remarks during the completion ceremony of Phase 1 of the National Cotton Industry Transformation Programme in Abuja. He expressed concern over the near collapse of the country's cotton industry, noting a dramatic decline in production from 2.5 million metric tons in 2001 to just 10,000 metric tons projected for 2025.

This decline poses a major threat to Nigeria's industrial base and economic diversification efforts. Enoh highlighted that the federal government's current priority is to revive the cotton, textile, and garment value chain to reduce import dependence.

He also mentioned that a new strategic policy framework for the sector will be unveiled in June-July 2026. Ayo Sotinrin, Managing Director and Chief Executive of the Bank of Agriculture, pledged financial support for cotton farmers and stakeholders across the value chain.