In Nigeria and across Africa, the fashion industry is a prospering sector. A report by the Nigerian Bureau of Statistics says that the textile, foot wear and apparel industry in the first quarter of 2021 contributed 0.24 percent to Nigeria’s GDP. Also, the sector was responsible for the employment of over 7 million people across a country in the same year. 10 percent of Nigeria’s manufacturing GDP is contributed by the textile, apparel and foot wear industry, as it employs more than 2 million people.
Regarded as the largest economy in Africa, Nigeria has a vast market for the fashion industry. It is known for its diversity in cultural heritage which has massive influence on fashion styles and designs, making the country a hub for fashion across West Africa. The strategic location of the country and its membership in many trade agreements, like the African Continental Free Trade Agreement (AfCFTA), has opened the window of opportunities for the expansion of fashion businesses to other African countries and beyond.
Nigeria has a favorable climate that helps cultivation of cotton.
Also, export opportunities available for the fashion industry in the country are promising owing to the favorable climate in the country for cultivation of cotton – a primary raw material for production of clothing. AfCFTA provides a tariff-free market for the country’s fashion products in other African countries, to boost the competitiveness of Nigerian fashion brands in the Africa market. It also ensures the provision of opportunities for Nigeria’s fashion industry and Africa’s for expansion and creation of new markets for its products.
Fashion is a prominent style or trend in clothing, personal grooming and accessories. It is referred to as style, trends and designs that are favored and imitated by a certain group of people or culture. The fashion industry is therefore described as a business that has to do with the creation, manufacturing, marketing and selling of clothing, accessories, foot wear and other lifestyle products. It cuts across several sub-sectors such as ready-to-wear, haute couture, street wear and luxury goods.
Diversification of the economy is possible through the sector.
Currently, the Nigerian fashion industry is estimated to be worth more than $2 billion and is projected to keep increasing. Africa and Nigeria’s fashion industry is a primary employer of labour through its provision of jobs for a massive number of people, particularly women and youth, which leads to a reduction in unemployment rates. The industry generates revenue from taxes, exports and other economic activities, contributing to the GDP of the country and the continent, Africa.
Concerning diversification of the economy, the fashion business, as a non-oil sector, provides a medium that aids this diversification. By doing so, there is a reduction in the over-reliance on oil products, as there are now several entrepreneurs in Nigeria and Africa. The industry also provides opportunities to create value chains which include sourcing of raw materials, production, distribution and retail. It also encourages social and environmental responsibilities through usage of sustainable materials, fair trade practices and ethical production.
There are businesses that give quick investment returns in the industry.
To make quick investment returns in the industry, there are various opportunities and chain of businesses that can be leveraged upon. Some of these businesses include manufacturing for local and international markets; retail; fashion design; fashion training and education through workshops and fashion schools; fashion styling for magazines, runway shows and fashion events; fashion photography; textile production of Aso Oke, Adire and Ankara; fashion event planning; fashion consultancy; fashion accessories; fashion blogging and influencing; fashion tech; and sustainable fashion through creation of eco-friendly fashion lines.
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The fashion industry in Nigeria and Africa – Over 7 million people in Nigeria are employed under the sector. – Express your point of view.
The fashion industry in Nigeria and Africa has become a significant contributor to the economy and has provided employment opportunities for millions of people. The industry’s growth is expected to continue in the coming years as more people become interested in African fashion, especially on the global scene. Thus, further growth in this sector is expected to translate into more job opportunities and the economic growth of Nigeria.
Our fashion industry in Africa is actually going large. Nigeria is actually contributing to the growth of the fashion industry. At this rate we will also be able to produce and plant more cotton, which will be used to make clothes.
The fashion industry in Nigeria and Africa, this sector need to continue growing to serve people more it as create million of job people the sector need to keep expanding so as to keep serving the people well and the sector is a big impact on the economy of the country
In Africa, there is a growing fashion sector. Nigeria is genuinely assisting in the expansion of the fashion sector. At this rate, we will be able to produce more of the material, which will be utilized to make clothing, as well as additional plants.
We have a booming fashion sector in Africa. The fashion industry as a whole benefits from Nigeria’s participation in it. We can increase our clothing output and our cotton plantings simultaneously.
The fashion business in Nigeria and Africa must keep expanding in order to continue servicing the needs of the populace and having a significant positive impact on the nation’s economy. It also creates millions of jobs.
The fashion industry in Nigeria and Africa. Impressive fashion style in Nigeria. We are really doing well when it comes to fashion design. Many employment opportunities has been created through fashion industry. It has really contributed to the economy growth of Nigeria
The fashion industry in Nigeria is doing well and has serve means of livelihood for some Nigerians. It gives room for chain supply thereby creating employment opportunity. It has generated revenue for the nation. It is a good business to invest in.
The fashion industry in Nigeria precisely has contributed to the GDP of the country creating employment opportunity for most Nigerians. It is a sector that has supply chain; from raw material (that is your cotton) to finished product and has generated businesses for most people. Go to the social media you will see the dominance of fashion. Fashion is a trend that is always evolving creating creative minded people. It is a sector that can never miss out. For as long as there is production of wears there will always be people to wear them.