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Nigeria-based international business strategy and business intelligence firm Leoht Africa recently partnered with the Indian Chamber of Commerce to boost Nigeria’s textile retail sector and position it as a leading hub in the central and west African market. The aim is to build a yearly and sustainable international sourcing platform for organisations to trade and secure orders from corporate buyers and resellers.
Company managing director Bunmi Aliyu told the 2021 edition of the Source Textile and Apparel and Retail Sourcing Fair West Africa Exhibitions that the past two years have been a challenge with the effect of COVID-19 and its impact on travel as well as the ability to trade, travel and meet new suppliers.
She noted that the Nigerian retail sector has survived, adapted and thrived despite the challenges, just as research by the Global Retail Development Index, showed that Nigeria is the leading retail market in Africa with $295 billion of retail sales recorded in 2020.
Nigeria-based Leoht Africa recently partnered with the Indian Chamber of Commerce to boost Nigeria’s textile retail sector and position it as a leading hub in the central and west African market. The aim is to build a yearly and sustainable international sourcing platform for organisations to trade and secure orders from corporate buyers and resellers.
Debmalya Banerjee, regional director, Indian Chamber of Commerce, Kolkata, said the textile sector in Nigeria was one of the largest private employers in the past as it provided employment to over one million Nigerians and had always been a major player in the manufacturing sector of the economy.
He said the large vibrant consumer market, talented and enterprising young population, attractive geographical location and launch of the African Continental Free Trade Area (AfCFTA), provide the right opportunity for Nigeria to become a leading textile hub in the Central and West African market.
Banerjee said India, with its position as one of the largest cotton growers in the world and producers of textiles, is capable of helping Nigeria in reviving its textile and apparel sector, according to a report in a Nigerian media outlet.
He said India is working to boost its technical textile industry and would be willing to partner with and support Nigeria in terms of provision of textile machinery, technology, capacity building and training in the entire textile value chain.
Fibre2Fashion News Desk (DS)
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