Stakeholders call for effective policy-making in driving textile industry growth

…Nigeria, Turkiye furniture market to hit $6bn by 2027

Stakeholders have shared insights into how the Federal Government can nurture the growth of Nigeria’s furniture and textile industry, saying both industries have potential to contribute significantly to the Gross Domestic Product (GDP), employment and export.

While calling for innovation, policy, and collaboration in these vital industries, major players seek effective policy-making to drive growth in the sectors.

Daniel Deji Ayodele, founder of Mindshift Empowerment and Employment Initiative (MEEI), speaking on the ‘Role of Policy, Innovation, Standards, and Etiquette in Boosting Nigeria’s Furniture and Textile Sectors’ at the 4th International Furniture, Home Textile, and Household Exhibition tagged Nigeria DecorExpo 2024, said that the sector is “not just integral parts of our economy; they also reflect our culture, creativity, and capabilities.”

According to Ayodele, “The furniture industry has seen local artisans produce unique, culturally relevant pieces that reflect the rich heritage of our nation. Additionally, the textile sector boasts a vibrant history, from traditional weaving to contemporary fashion design. However, to truly elevate these industries, we need cohesive policies that foster development, incentivise innovation, and reinforce standards while embracing proper business etiquettes.

“First and foremost, effective policy-making is paramount in driving growth within the furniture and textile sectors. Policies must be designed to support local manufacturers, attract investments, and ensure fair market competition. The restriction placed on importation of furniture, textile materials and other items made by the then administration of President Buhari was commendable. By creating a favorable business environment, policymakers can stimulate production and encourage new entrants into the market.”

Martins Arebun, president of Mindshift Empowerment and Employment Initiative (MEEI Programme) disclosed that Nigeria’s furniture market is valued at over $2 billion with potential growth in the next three years.

Arebun stated that with Nigeria, Turkiye presents bilateral trade relationship, the subsector is set to grow by 300 percent from $2 billion to $6 billion by 2027.

In a paper themed: “Economic Significance of Furniture and Textile Sectors on the nation’s economy,” at the expo

noted that the sub sector contributes significantly to the national Gross Domestic Product, employment and export.

“While Turkiye is one of the top global exporters of textiles and accounts for over 3.5 percent global exporters, Nigeria along with South Africa and Ethiopia among others are leaders in the production of cotton and wool.

Arebun disclosed that Turkiye trade volume with continent exceeded over $40 billion in 2023 and it is growing with the textile and furniture sectors accounting for significant portion.

Charles Idahosa, president of the Lagos Chamber of Commerce and Industry, in his speech, admitted that the textile market between Turkiye and Nigeria is already established, the furniture sector has potential for growth in the country.

He stressed that the Expo has opened potential opportunities to Nigerians in the growing furniture market in the country.

Shina Peller, an entrepreneur and former member of the 9th National Assembly, speaking on the topic “The Role of Policy, Innovation, Standards, and Etiquette in Boosting Nigeria’s Furniture and textile sectors emphasised the importance of effective policy-making in driving sectoral growth saying policies must be crafted to support local manufacturers, attract investments, and ensure fair competition.

He lauded the restriction on the importation of furniture and textile products under the administration of former President Muhammadu Buhari, describing it as a step in the right direction, he stressed that creating a conducive business environment will help stimulate production and encourage new market entrants.