Sustaining the Steeze with the Growing Value of Nigeria’s Textile Imports
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Sustaining the Steeze with the Growing Value of Nigeria’s Textile Imports
The importation of textiles and textile articles into Nigeria surged by 92% in 2024, according to the National Bureau of Statistics (NBS), a sharp rise compared to just 3% growth in 2023.
Textile import values increased from ₦377 billion at the end of 2023 to ₦726 billion in 2024, a period characterised by severe economic instability, high exchange rates, and escalating production costs.
The sharp rise in the value of imported textiles raises serious concerns about the future of Nigeria’s celebrated fashion style, often referred to as "steeze." As costs escalate, maintaining this distinct sense of style is at risk of becoming less affordable or even out of reach for the average Nigerian.
This reflects deeper structural issues. It signals either a continued decline in Nigeria’s domestic textile industry, weakening the supply of locally produced, affordable fabrics, or the ripple effects of the naira’s persistent depreciation.
However, the increase in the value of textiles and textile articles imports may not necessarily reflect a corresponding rise in the volume of textiles and textile articles.
The trend brings to focus questions about Nigeria’s industrial policies, the resilience of its manufacturing sector, and the broader implications of an economy increasingly dependent on imports for essential goods.
For nearly a decade, the importation of textiles has continued to increase annually, although a 17% decrease was recorded between 2019 and 2020. This was primarily due to border closures and global market disruptions caused by the COVID-19 pandemic.
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