More from Techstars Startup Digest

This Nigerian Startup Wants To Be The Leading Clothing Company - WeeTracker

Nigeria’s economy once had a textile industry that could be regarded as booming. In its golden era between 1985 and 1991, this industry had an annual growth rate of 67 percent. At the turn of 1991, the industry had 350 K employees who made up 25 percent of workers in manufacturing. About 180 textiles mills were in operation then. But today, the narrative is almost contrasting. All but 25 of the textile mills still are in existence. Most of them have called it quits with the most of what’s left running at less than 40 percent of installed capacity and having 25 K people employed. A significant number of participants in the industry channeled their blame to the influx of cheaper fabric from China and India, which turned fortunes and made it hard for local mills to compete in the industry. But, someone thinks there is still hope for the Nigerian textile industry.


Want to receive more content like this in your inbox?