Hey there,

We trust you are having the best of the week.

Weeks ago, we shared the story of the rise and disappearance of the iconic Groundnut pyramids. Today, we share a similar but more complex story that hits even closer to the bone: the collapse of Nigeria’s Textile Industry.

The textile industry is as famous as Rashidi Yekini, the legendary striker it gave us. He rose to fame while playing for United Nigeria Textiles Ltd (UNTL) FC. Back then, the nation’s mills were so powerful they sponsored leagues and owned football clubs.

At its peak, nearly 17 million Nigerians were involved in some ways in the industry. In fact, it was the second highest employer of labour after the government itself. Kaduna was ‘Textile City’ and home to giants like UNTL, Arewa Textiles and Finetex.

At the time, Made in Nigeria was a badge of quality across West Africa. Our grandmothers, who wore them as wrappers remember them as the designers of their generation. They were the mark of class and were given out to marrying daughters as heirlooms and wedding gifts. Nigerian textiles dominated West African markets, with UNTL, Arewa Textiles, and Finetex setting the gold standard.

Yet, soon after reaching its peak, the industry was crippled. Mills that once roared all fell silent and were abandoned. Hundreds of thousands of jobs vanished. Millions more, from cotton farmers to market traders, saw their livelihoods disappear. And Chinese manufacturers were left to flood the market with cheap but cheap polyester fakes—some even bearing the iconic ‘Made in Nigeria’ mark of quality.

Unlike the groundnut pyramids, there were concerted even desperate efforts to save the textile industry. Obasanjo’s invested a ₦70bn fund into the industry and Yar’Adua’s also threw it ₦100bn lifeline as did President Jonathan. All sorts of policies were enacted in a desperate bit to save the industry.

Yet, the decline proved irreversible. So, what went wrong?

To learn the answers, we invite you to read the story the collapse of Nigeria’s textile industry.

The SimplVest Team.

How Nigeria Lost Its Textile Industry

Nigeria’s textile industry is as famous as Rashidi Yekini. He rose to fame while working for United Nigeria Textiles Ltd and playing for the company’s football team.

Yes, once upon a time, “Made in Nigeria” fabric was a mark of quality.

The industry that was once a critical pillar of Nigeria’s economy has long collapsed. The interventions of successive governments have failed to revive the industry that once clothed a nation and employed millions.

👉 Full Story here: How Nigeria Lost Its Textile Industry

From Elsewhere: What is the Hajj pilgrimage and what is Eid al-Adha? Everything you need to know

Today begins the Hajj, one of the five pillars of Islam. Some 1.8 million Muslims from around the world are in the Saudi city of Mecca for the event. In the coming days, they will perform religious rituals and acts of worship from more than 1,400 years ago.

This article breaks down everything you need to know about the pilgrimate.

👉 Full Story here: What is the Hajj pilgrimage and what is Eid al-Adha? Everything you need to know

Till Saturday,

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