Member ID:
Stay logged in for 30 days
Forget Your Password?

login CCFGroup App

Industry News | Time: Nov 21 2019 9:22AM
Intervene of Indonesian Central Bank in Nigeria's textile industry
Text size
According to Nigeria's New Telegraph on Nov 18, the Central Bank of Nigeria recently revealed that in order to revive the country’s textile industry, CBN is boosting the effort with N100 billion funding intervention, and apex bank had already disbursed about N50 billion to the cotton and ginning components of the sector.

Godwin Emefiele, the CBN Governor, said that according to the executive order of President Buhari, military and paramilitary agencies must purchase uniform fabrics at home.

This came shortly after CBN stopped the settlement of foreign exchange of imported textiles and palm oil.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Related Articles
Demand recovery to lead Indian textile, apparel market growth in
Yarn expo opens on Sep 23
How the Coronavirus affects Thailand garment workers
Many Vietnamese textile and apparel mills hard to find fresh orders
Vietnam emerges the new hotbed of textile and apparel production
Pakistan government committed to make textile industry competitive:
Indian textile and apparel industry has started improving
US restrictions on textile imports from China may benefit India:
US blocks cotton, apparel, hair products imports from XUAR
Japanese manufacturing industries moving in Bangladesh
Development change of virgin PSF and recycled PSF and their ...
Polyester market review in H1 2020 and market outlook
PET bottle chip market to face challenges after an ...
Spandex market review in H1 2020 and market outlook
PTA and PX market outlook in H2 2020
Analysis on production changes of global major cotton ...