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An Assessment of the Potential Challenges of the African Continental Free Trade Agreement on Nigeria’s Textile Industry

In: The Palgrave Handbook of Africa’s Economic Sectors

Author

Listed:
  • Adaora Osondu-Oti

    (Afe Babalola University)

Abstract

This chapter assesses the potential challenges of the African Continental Free Trade Agreement (AfCFTA) on Nigeria’s textile industry. It adopts a qualitative case study and documentary research approaches. Findings reveal that AfCFTA is an opportunity for Nigeria to gain access to Africa’s market of 1.2 billion people, with little or no restriction. However, Nigeria’s textile industry stands at the risk of total collapse. A study of two major textile firms (Sunflag and United Textile Companies) shows that the industry is struggling to survive due to the influx of cheap fabrics from China, smuggling of used clothes from neighboring States, infrastructural deficit such as power supply, and poor access to finance to procure new types of machinery. Thus, Nigeria’s implementation of AfCFTA will add to the woes of the industry.

Suggested Citation

  • Adaora Osondu-Oti, 2022. "An Assessment of the Potential Challenges of the African Continental Free Trade Agreement on Nigeria’s Textile Industry," Springer Books, in: Evelyn F. Wamboye & Bichaka Fayissa (ed.), The Palgrave Handbook of Africa’s Economic Sectors, pages 671-692, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75556-0_26
    DOI: 10.1007/978-3-030-75556-0_26
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