Nigeria’s furniture and textile sectors hold untapped potential to drive economic growth, but experts say the federal government must act by introducing supportive policies.
Speaking at an exhibition in Lagos on Wednesday, Shina Peller, a former member of the House of Representatives, stressed the importance of creating an enabling environment for local manufacturers.
“Policies must be crafted to support local manufacturers, attract investments, and ensure fair competition,” Peller said, urging the government to prioritize industries with the capacity to transform the economy.
The furniture and textile industries contribute significantly to Nigeria’s gross domestic product (GDP) yet remain largely underdeveloped.
Martins Arebun, president of the MindShift Empowerment and Employment Initiative (MEEI), highlighted the opportunities in these sectors. “Nigeria’s furniture market is valued at over $2 billion and is growing annually,” Arebun stated. “With the right policies, the market has the potential for over 300 percent growth in the next three years.”
He also pointed out that while countries like Turkiye dominate the global textile export market, accounting for over 3.5% of global exports, African nations, including Nigeria, South Africa, and Ethiopia, are leaders in cotton and wool production.
Daniel Ayodele, founder of MEEI, emphasized the cultural and economic significance of these industries. “The furniture industry has seen local artisans produce unique, culturally relevant pieces that reflect the rich heritage of our nation,” Ayodele said.
However, he warned that the absence of cohesive policies stifles innovation and limits the sector’s potential. “Effective policymaking is paramount to foster development, incentivize innovation, and create jobs in these vital industries,” he added.
Experts agree that the right policies could unlock a cascade of benefits, from job creation to increased foreign investments.
They believe targeted reforms, such as tax incentives for local manufacturers, stricter import regulations to curb dumping, and funding for research and development, could position Nigeria as a competitive player in global markets. Arebun concluded by saying, “Nigeria’s furniture and textile industries are a goldmine waiting to be tapped. It’s time to act decisively.”
