Nigerian leather industry can generate over $1 bn by 2025: Study

Davida Erdahl

The Nigerian leather-based sector can crank out about $1 billion by 2025, says a examine by the Nigerian Economic Summit Team (NESG). Foreseeing an great prospective for additional jobs and significantly higher exports, vice president Yemi Osinbajo explained the NESG projection also suggests that the leather-based sector has the prospective […]

The Nigerian leather-based sector can crank out about $1 billion by 2025, says a examine by the Nigerian Economic Summit Team (NESG). Foreseeing an great prospective for additional jobs and significantly higher exports, vice president Yemi Osinbajo explained the NESG projection also suggests that the leather-based sector has the prospective to raise its earnings by 70 for each cent by 2025.

The leather-based price chain consists of animal husbandry, tanneries, finished leather-based merchandise and leather-based merchandise marketing.

Nigeria’s leather-based and leather-based merchandise sector presently employs about 750,000 staff, with about 500,000 in the finished leather-based merchandise sector. To day, nevertheless, exports are in the order of $272 million. The big markets for Nigeria’s semi-finished and finished leather-based are Italy, Spain, India, South Asia and China.

“By optimising the price chain, the sector will present employment, make improvements to our international exchange earnings and increase expansion,” the vice president was quoted as stating by a Nigerian newspaper.

He also announced that the Nigerian Institute of Leather Science and Technology (NILEST) has proven 9 extension centres across the six geo-political zones of the nation.

Fibre2Fashion Information Desk (DS)

The Nigerian leather-based sector can crank out about $1 billion by 2025, says a examine by the Nigerian Economic Summit Team (NESG). Foreseeing an great prospective for additional jobs and significantly higher exports, vice president Yemi Osinbajo explained the NESG projection also suggests that the leather-based sector has the prospective to raise its earnings by 70 for each cent by 2025.

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