woooooooo..............is this meant to be news, I thought it was early last year or late 2011 that this same GEJ government put a resuce package for this same textile indistry?.......what happened to the funds?, why did it not save jobs?, y this huge figure after such a large amout of money put into the industry?

Countries can't complete with global free trade rules and products produced by slave wage and prison labor workers.

Go against the grain and raise tariffs to protect home grown incubating industries.

This is what happens when you give traders and importers free reign to import anything from China so as to destroy local manufacturers and jobs. Now the same traders are clamoring for free reign to import cement from China so that they can destroy local manufacturers and jobs.

Imagine the loss of over 750 thousand jobs that could have been prevented by government policy! And they expect the cement manufacturers not to use political clout to prevent their destruction and loss of invested billions considering that one of the major cement manufacturer used to be a major textile manufacturer.

They will shout "competition" but they are never willing to set up their up their own manufacturing plants to compete with the existing manufacturers. They will rather prefer to export scarce forex and jobs to China and Chinese citizens. A lazy and myopic set of people.

The government should implement a backward integration policy that will restrict textile imports to textile manufacturers. That way, only people with genuine interest of investing in the country will be allowed to bring in imports and not just traders who have no regard for their fellow employed citizens. They will prefer to export local jobs to countries running slave labour for their own selfish interests and profit.

Maxymilliano:
Bros, what killed the sector is liberalization, and Nigeria joining the World Trade Organization, that's why there's influx of foreign product into markets of member countries, especially from Asia and which render local industries less productive and competitive...

Now you come full circle to my point. Lack of power meant they were producing at higher cost vs the Asians and were unable to compete. Liberalization is not a bad thing, but if you have supply bottlenecks in the economy (such as no power) your ability to compete will be severely constrained. All sectors of the economy was impacted by lack of power

Before spending money on revamping, they should do a deeper analysis on why the sector collapsed, what has changed since that time and what are the current/future opportunities.

We know the power situation has not improved significantly since 7 - 8 yrs ago. Let's stop doing things the wrong way. I also want the sector to be revamped but let's get it right.

occam:

Its about demand and supply. Do we have an export market for adire or ankara?

The Asians have made significant stride and cornered the juicy markets - North America & Europe

Its not true ,occam's razor is a medical terminology. U wan job me

Maxymilliano:
Bros, what killed the sector is liberalization, and Nigeria joining the World Trade Organization, that's why there's influx of foreign product into markets of member countries, especially from Asia and which render local industries less productive and competitive...

Bros, you forgot to add corruption to these reasons you mentioned above

ngozievergreen:
Its not true ,occam's razor is a medical terminology. U wan job me

It's a scientific principle and approach to problem solving.

Occam's razor "When you have two competing theories that make exactly the same predictions, the simpler one is the better".
http://math.ucr.edu/home/baez/physics/General/occam.html

I believe a lot in this principle. I'm glad you like it too

This is another excuse to ban importation of cloths from China. E no go work. Fix Electricity so we can manufacture our cloths before banning importations.

occam:

It's a scientific principle and approach to problem solving.

Occam's razor "When you have two competing theories that make exactly the same predictions, the simpler one is the better".
http://math.ucr.edu/home/baez/physics/General/occam.html

I believe a lot in this principle. I'm glad you like it too

Tanx. But dere is also a meaning to dat in surgery. I will find out

Billyonaire: This is another excuse to ban importation of cloths from China. E no go work. Fix Electricity so we can manufacture our cloths before banning importations.

The classic excuse. You can't sell stuff, blame the Chinese

taharqa: The Textile sector is already bn revampd finali....more work needed though

You inherited LYING.

grandstar: The so called job losses in the textile mills are not so bad when you realize why.

The power sector is one of the problems. The second may be the poor state of roads. A third may be cotton.

The biggest problem really is China. The ultra competitive Chinese not only brought the textile sector here to its knees but also adversely affected those in other countries.

We do not have any comparative advantage in producing textiles.

It will therefore be wise if we fully open the borders and slash import duties to as low as 5%.

We may have lost jobs in the textile industry but many tailors are not complaining. It is estimated that up to 1million jobs depend on imported textiles.

The cement stats to me are also wrong. Imported cement which is much cheaper would have created far more jobs on the ground than producing it expensively locally. High cost of bricks has slowed down construction.

So you want us to mortgage our future to the chinese. Law of comparative advantage is a scam. I thought we should have learnt that by now. That law would only be applicable if the world was homogeneous. It is not. Close the border. Provide loan schemes for prospective enterpreneurs. Aba may soon have 24 hours electricity. Encourage them with loans. KELE CHUKWU

Shedysworld: Gr8 ideas,gud development on textile.being a textile personal,i realise that this 'll go a long way to bring back the glory of d textile sector.One other thing that 'll be lovely to add to this lovely ideas of our ministers is 4 the federal government to look into the demands of the bank of industries from indigenious technologist as concerning loan conditions with special reference to collateral which is too high and difficult to meet.

I totally agree. Our banks are very greedy and their demands are highly unfavorable to business in this country. Government should liaise with banks and figure out a way to act as co-surtees. We have to help our banks to start lending to medium to small local businesses.