The textile, apparel and footwear sub-sector remains the second largest contributor to Nigeria’s manufacturing (after food, beverage and tobacco). It posted total output of N383bn (US$1.3bn) in Q4 2017 or 23.3% of manufacturing GDP.
The segment grew by 1.6% y/y in Q4 2017, compared with 1.1% recorded in the corresponding period of the previous year (see chart). Given Nigeria’s huge appetite for fashion and related industries, the segment is still performing well below its full potential.
Industry sources confirm that the country’s annual import bill for textiles and ready-to-wear apparel is US$4bn. Despite the naira depreciation, there is still an influx of imported ready-to-wear garments.