Nigeria’s textile, garment, footwear sector continues to shrink
Nigeria’s textile, garment and footwear sector shrank by 8.1 per cent to $764.6 million in 2024 from $835.28 million in 2020. While a drop was observed in the domestic front, export value has been witnessing consistent increases, largely due to currency depreciation. Imports too saw a sustained rise. The sector’s contribution to GDP has been steadily declining over the past five years.
Nigeria’s textile, garment and footwear sector shrank by 8.1 per cent to $764.6 million in 2024 from $835.28 million in 2020.
While a drop was observed in the domestic front, export value has been witnessing consistent increases, largely due to currency depreciation.
Imports too saw a sustained rise.
The sector’s contribution to GDP has been steadily declining over the past five years.
