News

June 24, 2024

Nigerian Newspapers: Textile industry faces total collapse as revival efforts fail

Nigerian newspapers

In Vanguard’s Nigerian Newspapers review programme, Today in the News, Vanguard reports that Nigeria’s textile industry is now gasping for breath following the failure of revival measures, a sustained upsurge in the importation of textile products and a series of adverse monetary policy regimes.

Financial Vanguard findings indicated that decline had set in around 2005 and it had struggled since then despite the growing market size due to the rising population.

It reported that only about five textile mills are still operational today while the cotton production value chain has vanished. The labour force is also down to less than 2,000, both direct and indirect.

Reports on civil servants drawing salaries from federal coffers after relocating abroad suffuse the frontpages today. 

The Punch reports that Dangote oil refinery and petrochemicals has accused international oil companies (IOCS) in Nigeria of doing everything to frustrate the survival of the refinery. 

The newspaper says the federal government is set to punish supervisors and department heads approving salaries for civil servants who have relocated abroad.

In Today in the News, The Guardian reports that the Central Bank Of Nigeria (CBN) may have finally stopped funding for Bureau De Change Operators in the country. 

The newspaper says the Labour Party (LP) directorate on mobilisation and integration has denied any plan to dump Peter Obi as its presidential candidate for the 2027 elections.

Daily Trust reports that pastoralists in Nigeria have rejected the national ranches commission establishment bill 2024, which has scaled a second reading in the senate. 

The newspaper says Caleb Mutfwang, governor of Plateau, has banned churches and mosques from blocking roads during religious worship.

Also in Today in the News, The Nation reports that Umaru Bago, governor of Niger State, has tackled the National Hajj Commission Of Nigeria (NAHCON) over alleged poor treatment of pilgrims in Saudi Arabia. 

The newspaper reports that workers in rivers’ 23 LGAS are planning to stage a protest over police presence at the secretariats.