'How Nigeria can tap into $390b leather industry'

• Published date: 19 January 2023
• Publication title: Nigeria - The Nation

Director-General, Nigerian Institute of Leather and Science Technology (NILEST), Prof Mohammed Yakubu, has urged the Federal Government to give the leather industry priority to earn foreign exchange from the $390 billion industry.

Yakubu stated this at the Technology and Innovation Expo, and our Leather Day in Abuja yesterday. According to the Head of Information and Protocol, NILEST Zaria, Kaduna Remi Basorun, he NILEST chief noted that Nigeria's vision of becoming one of the largest economies in the world can be hastened when leather and leather products through, the required technology and innovation, are fully integrated into the national socio-economic development process.

He said: 'The leather industry has proven, in recent times, to be a prolific sector contributing immensely to high employment, wealth generation, security, Gross Domestic Product (GDP) and development. The leather industry is a $390 billion worth market, globally acknowledged as a driving tool for industrialisation, especially in the developing world.

'Nigeria must accord high priority to Leather and Leather Products if she must take her rightful place in the comity of nations. Nigeria's vision of becoming one of the largest economies in the world in the nearest future can be hastened when Leather and Leather Products through the required technology and innovation are fully integrated into our national socio-economic development process. This will help Nigeria bridge existing gaps.

'It will also help fast track the processes that will enable her to become self-reliant in indigenous technology...