Revitalizing the Nigerian Textile Industries for Mitigating the Effect of COVID-19 and Achieving Sustainable Economic Development

  • Wole Lateef Akintayo Tai Solarin University of Education, Ijagun, Ijebu-Ode, Nigeria

Abstract

The paper examines the role the textile industry can play in achieving the diversification of the Nigerian economy as a way of reducing the effect of COVID 19 pandemic on the economy. The economy had been largely dependent on revenue from crude oil to the neglect of agriculture, manufacturing, services/trade and other emerging sectors. COVID 19 pandemic has made the Nigerian economy vulnerable to vagaries of price crash in the world oil market and this vulnerability has given rise to many challenges such as massive job loss, the inability of many states and the federal government paying workers salary, inability to embark on capital expenditure and putting everything on hold in many states, with basic infrastructure decaying.   The paper examines the effect of COVID 19 pandemic on Nigeria  as well as  the importance of textiles to human sustenance, and the socio-economic development of Nigeria; the effect of government long years of negligence and adverse policies on the textile industry. The paper concludes that the revitalization of the textile industry would be a way to diversify the economy for mitigating the effect of COVID-19 in the post-pandemic era and achieving sustainable development. The paper recommends that government should provide new intervention fund to the textile industry; government should improve the obsolete technology in the textile industry and provide necessary infrastructural facilities especially power supply to local textile manufacturing companies.


Keywords: COVID 19 pandemic, mitigating, Nigeria, Textile Industry, Revitalizing

Published
2020-10-25
How to Cite
AKINTAYO, Wole Lateef. Revitalizing the Nigerian Textile Industries for Mitigating the Effect of COVID-19 and Achieving Sustainable Economic Development. KIU Journal of Humanities, [S.l.], v. 5, n. 3, p. 57-66, oct. 2020. ISSN 2522-2821. Available at: <https://ijhumas.com/ojs/index.php/kiuhums/article/view/1007>. Date accessed: 22 jan. 2022.