Nigeria'S Industry Recommends Foreign Exchange Control For Textile Imports.

LagosChamberofCommerceandIndustries (LCCI) of Lagos, Nigeria suggests that the federal government reconsider the implementation of foreign exchange control on textile imports. In view of Nigeria's leading position in the field of African fashion, the textile produced locally in Nigeria is not enough to meet the demand for quality and quantity of textile raw materials in the garment industry of Nigeria.

MudaYusuf, Secretary General of Lagos chamber of Commerce and industry, said that the position of the chamber of commerce is not to underestimate the importance of Nigeria's textile industry, nor to ignore the importance of Nigeria's industrialization process. But on behalf of Nigeria's industry, it emphasizes the importance of industrialization strategy.

If Nigeria's electricity supply is insufficient and its weak infrastructure is not resolved, it is impossible to achieve the goal of rapid industrialization.

In view of the leading position of Nigeria fashion in Africa, the development of garment industry should not be affected by the textile industry. The government should focus on strengthening the production capacity and competitiveness of local industries and reducing import dependence.

The textile industry is an energy intensive industry. Under the current power supply in Nigeria, it is difficult to develop rapidly.

The implementation of the foreign exchange ban on textile imports will cause serious obstacles to Nigeria's clothing industry, fashion industry, fashion jewelry industry and garment processing.

The fashion industry is the fastest growing industry in Nigeria, providing opportunities for many young people to develop innovation and creativity. Its output value is about 5 trillion Nigeria coins, providing 500 thousand employment opportunities in Nigeria.