Ask Nigeria - Your Nigerian News Community

728 x 90

Leather exports to hit $1Billion by 2025

Leather exports to hit $1Billion by 2025
Photo by Konstantin Evdokimov- Ask Nigeria

Federal government target $1 Billion in earnings from leather export by 2025.

Being one of the biggest producers and exporters of raw leather materials in Africa, the export of leather has grown steadily in Nigeria as the federal government now targets securing about 1 billion dollars from the export of leather goods by 2025, in accordance with the National Leather Policy. Prof. Mohammed Yakubu, Director-General and Chief Executive Officer of the Nigerian Institute of Leather and Science Technology (NILEST), disclosed claims that in 2018 and 2019, the exports of leather goods from Nigeria were approximately $800 million before falling to $650 million in 2020 due to COVID-19.

Regarding the capacity-building and research trip to Portugal’s leather industry, Prof. Yakubu said it is a component of attempts to put into effect the Vice President Yemi Osinbajo, his initiated National Leather and Leather Products Policy Implementation Plan. He explains that the delegates studied various leather-making organizations in Portugal and its Innovative Laboratory and workshop facilities with the sole aim of garnering knowledge about their policies, procedure, industry dynamics, and technology and comprehending how they were able to transform their artisanal industry into a sophisticated and contemporary one.

The institute has resolved the issue concerning the high cost of leather materials.

For Nigeria to become a significant player in the global leather market, it is necessary to determine how to entice the Portuguese leather industry to establish manufacturing facilities here in Nigeria. Prof. Yakubu estimated that the global trade in leather goods is currently between $300-$400 billion, claiming that per week more than 20,000 pairs of shoes and different high-quality leather materials were exported to African, Asian, and European countries from Southeast, Southwest, and Northern parts of Nigeria.

According to him, compared to the foreign ones, the high cost of imported processing materials was responsible for the spike in the prices of most Nigerian leather products. In light of these problems associated with the high costs of processing materials for leather industries, the institute utilized its research expertise to find a constant measure. Leather industries can now get materials locally to produce leather at a lower cost and sell it abroad with high quality and quantity. Prof. Yakubu explains that the world is fast advancing in technology now in a paradigm shift where only adequate skillful people have more chance in the economy.

NILEST and CTCP tasked to attract funding and collaborators to Nigeria.

He believes that if more attention is paid to science and technology, Nigeria can attain high-level leather production globally, particularly in the manufacturing area. This also solicits the government to introduce unique local technology and industrialization programs at all levels. Furtherly, Yakubu said the team will consolidate the information from the study trip and add this valued experience to the activities of NILEST, as well as the Nigerian leather sector, in areas of research and development. It was also resolved that CTCP and NILEST will facilitate the partnership between the Portuguese and Nigeria Leather Association and Entrepreneurs.

In response, the Portuguese leather investors are to take advantage of Nigeria’s abundant raw materials for manufacturing leather, footwear, and leather goods through NILEST. CTCP and NILEST are also tasked to attract funding and collaborators to Nigeria, which will aid the improvement of the processing of leather and leather products domestically. Nigerian Ambassador to Portugal, Alex Kefas, said President Muhammadu Buhari’s visit in June 2022, the first of its kind, served as an impetus to the diplomatic relations between Nigeria and Portugal, bordered on bilateral trade, technology transfer and capacity building.

National Leather, Policy implementation plan to give sights in the sector.

The leather value chain is very extensive, including animal husbandry, tanneries, finished leather products, and leather products marketing. About 11 leather exporting companies have been active at Nigeria’s upstream end of the leather value chain. With the official launch of the National Leather and Leather Products Policy Implementation Plan, Vice Pres. Osinbajo noted that there is now a clear line of sight to our emergence as a major hub for the manufacture of leather goods with the refocusing of the leather sector to value addition from its previous focus on exporting semi-processed leather.


Related Link

Wikipedia: Website

The content on AskNigeria.com is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. There is data available online that lists details, facts and further information not listed in this post, please complete your own investigation into these matters and reach your own conclusion. AskNigeria.com accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website.

Fact Checking Tool – Snopes.com

21 comments
0 0 votes
Rate This Article
21 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Adeolastan
Adeolastan
6 months ago

This is a good development if the article is something to go with because leather us very expensive nowadays across the world and companies will always need it for their production.

Abusi
Abusi
6 months ago

This is a dividend of Agriculture. Exportation of leather which is a cash crop has helped the government to generate revenue. Now the revenue will hit 1 billion naira by next year. That’s an improvement in the sector.

jdpumping
jdpumping
6 months ago

Right from inception Nigeria has been one of the highest exporter of leathers to the world and now we really need to do more from this and help use the finances to boost the economy for the benefits of the citizenry.

Hassan Isa
Hassan Isa
6 months ago

Due to Nigeria’s status as one of the continent’s most important manufacturers and exporters of raw leather materials, the country’s leather exports have been experiencing consistent growth and that is very good.

Adesanyaj72
Adesanyaj72
6 months ago

its good that they visited Portugal’s Innovative Laboratory and workshop facilities to learn more about the country’s leather-making organizations and the technology that have helped to elevate the country’s artisanal leather trade to the level of sophistication and modernity seen today.

Chibuzor
Chibuzor
6 months ago

It is essential for us to figure out how to persuade the Portuguese leather sector to build production facilities in Nigeria if Nigeria is to become a major player in the global leather market.

Tonerol10
Tonerol10
6 months ago

Very good and welcome development. Leather exports to hit $1Billion by 2025 this is a very good one. The export of leather is really generating much revenue

Taiwoo
Taiwoo
6 months ago

The majority of Nigerian leather goods saw their costs skyrocket as a direct result of the significant increase in the cost of imported processing supplies and that’s something that should be worked on.

Kazeem1
Kazeem1
6 months ago

Wow, it’s great to learn that leather manufacturers can now source their raw materials closer to home, which enables them to produce leather at a lesser cost and export it to other countries without sacrificing quality or quantity.

Godsewill Ifeanyi
Godsewill Ifeanyi
6 months ago

It is to our advantage that there is now a distinct path leading to our emergence as a major hub for the manufacture of leather goods. This is due to the fact that the leather industry has shifted its emphasis from exporting semi-processed leather to value addition, and it is a development that we should welcome.

Haykaylyon26
Haykaylyon26
6 months ago

Our leather production is progress they at going going reach a huge amount in few years to go. And is nice visiting other country leather worship to get more innovation about leather. Our country leather export as been amazing nice development

Nwachukwu Kingsley
Nwachukwu Kingsley
6 months ago

If Nigeria places a greater emphasis on science and technology, the country will be able to achieve high-level leather production on a worldwide scale, particularly in the area of manufacturing.

Ultra0711
Ultra0711
6 months ago

Wow, so Nigeria also has a sector that yield so much revenue like this. The leather sector should be harnessed well and facilitated with cutting-edge technology to diversify the country’s economy.

SarahDiv
SarahDiv
6 months ago

Leather exportation hitting $1Billion by Nigeria is achievable if our government can work on science and technology to increase leather production. The failure of our government in improving science and technology as necessitate the importation of almost product we are using in Nigeria today.

theApr
theApr
6 months ago

Nigeria need to maximally leverage on being one of the largest producer of raw leather material to establish the country as a major player in the world leather market.

Remi1
Remi1
6 months ago

The federal government’s target of hitting $1billion from leather export is very feasible. Provided effective plans be put in place. Also, It is important to figure out how to persuade the Portuguese leather business to build factories here in Nigeria.

Iyanu12345ogg
Iyanu12345ogg
6 months ago

The govt should introduce unique local technology and industrialization programs, so that leather industries can get materials locally to produce leather at a lower cost and sell it abroad with high quality and quantity. This will serve as revenue to boost our economy.

Bola12
Bola12
6 months ago

A positive trend in Nigeria’s leather exports may be traced back to the country’s position as one of the continent’s leading producers and distributors of raw leather resources.

Christiana
Christiana
6 months ago

The price of imported processing supplies has increased dramatically, driving up the price of most Nigerian leather goods. This is an issue that has to be addressed.

DimOla
DimOla
6 months ago

Every country that you see doing great today invested in science and technology and it all being from secondary to tertiary institutions to great and big industries. Our government want leather exportation up to hit $1Billion by 2025 what extra effort are they making in science and technology? The Nigerian government don’t care about our school nor our health sector how can they sustain science and technology. This country need special reorientation in science and technology to be able to measure up to world standard.

Tolaniiii
Tolaniiii
6 months ago

Nigeria can become a global leader in the production of high-quality leather goods if it prioritizes research and development in the STEM fields.