Despite the prevailing forex restriction for import goods by the Central Bank of Nigeria (CBN), textile is now the highest imported commodity, latest statistics from the National Bureau of Statistics (NBS) has shown.
Recall that in 2019 the CBN, as part of its intervention to revive the textile industry, imposed forex restriction on its importation, including woven fabrics and clothes to encourage local production and create jobs.
The directive to restrict forex on imported goods seems not to be yielding positive results three years after following the latest report by the NBS which revealed that textile materials were the highest items that accounted for the country’s import index in 2021…
More details through:
Leave a Reply.
News Archive from before July 2018