NAIJAFEED

Friday, May 15, 2026

The Loom Awakens: Nigeria’s Fashion Resurrection

For decades, the rhythmic hum of textile looms in industrial hubs like Kaduna and Kano served as the heartbeat of the Nigerian economy. Over time, that hum faded into silence. Today, the Federal Government is attempting to break that silence with the launch of the National Cotton, Textile, and Garment Industrial Transformation Programme (NCTG-ITP)—an ambitious framework projected to inject over 1.5 million jobs into the economy.

Unveiled at a major stakeholder session in Abuja, this initiative represents a fundamental shift in how Nigeria approaches industrialization. It isn't just a political promise; it's a structural rethink of the entire "Farm-to-Fashion" pipeline.

Moving Beyond the "Coordination Trap"

According to John Owan Enoh, the Minister of State for Industry, Trade, and Investment, the historical failure of the sector hasn't just been a lack of money or power.

“Our biggest challenge has not been finance or infrastructure alone, but coordination across the value chain.” — John Owan Enoh, Minister of State

To bridge these gaps, the new policy framework introduces a unified ecosystem:

Upstream Support: Streamlining policy and financing for cotton farmers through partnerships with the Bank of Agriculture (BoA).
Midstream Infrastructure: Collaborating with the Bank of Industry (BoI) to modernize manufacturing and processing.
Downstream Market Access: Equipping small and medium-scale enterprises (SMEs) with technology and skills to scale up production.

Proof of Concept: The 10,000 T-Shirt Proof

To prove this isn’t just theoretical, the ministry highlighted the success of its recent six-month pilot project. Led by Eme Bassey, Special Adviser on CTG, the pilot successfully manufactured 10,000 high-quality, made-in-Nigeria T-shirts using 100% locally sourced cotton.

The timeline from raw cotton to finished garment took just six to seven months. The takeaway? Nigerian factories can produce apparel that is completely cost-competitive with cheap foreign imports, proving the local value chain is viable.

The Macro Picture: AfCFTA and Demographic Dividends

With manufacturing activity facing macroeconomic strains, the textile revival is being viewed as a critical lever for broader economic diversification. Chris Osa, the Ministry's Permanent Secretary, and Olumuyiwa Ajayi, Director of Industrial Development, emphasized that the sector holds immense potential for empowering women and youth, who make up the backbone of the fashion and tailoring economy.

Furthermore, a self-sustaining textile industry positions Nigeria to transition from a consumer market to an aggressive exporter under the African Continental Free Trade Area (AfCFTA). Backed by international bodies like the United Nations Industrial Development Organization (UNIDO), the initiative aims to transform Nigeria into West Africa's garment powerhouse.

Looking Ahead

The blueprint is solid, and the pilot project proves the local capacity is there. The ultimate test will now be whether the government can sustain this level of value-chain coordination while protecting local manufacturers from the persistent threats of smuggling and high operational costs. If the execution matches the ambition, Nigeria’s textile industry could soon become a core engine of its economic future.

Business Day

China confirms that Nigeria is its largest engineering contracting market in Africa

Chinese officials recently highlighted Nigeria’s position within China’s long-term developmental and economic strategies, citing the country’s growing influence in infrastructure projects, investment, and bilateral trade.

During a seminar in the Chinese capital, Beijing, attended by prominent Nigerian government officials and media figures, Nigeria was touted as one of China’s major African partners.

It was also made known during the seminar that Nigeria now stands as one of China's premier market for engineering and construction on the African continent, boasting the title of the largest engineering contracting market in Africa.

“Nigeria is China’s largest engineering contracting market, second-largest export market, third-largest trading partner, and a major investment destination in Africa,” he stated.

Additionally, the West African country also stands as China’s second-largest export market and third-largest trading partner in Africa, according to the Deputy Director at the China International Communications Group, Li Hengtian.

As seen in the Punch newspaper, the Deputy Director began the session by stating that the goal of the seminar was to improve communication and collaboration between the two nations through media cooperation and people-centered storytelling.

“Stories are the highest form of human communication,” he said, quoting Nigerian author Chimamanda Ngozi Adichie.

“Today, in Beijing at the beginning of summer, we are here precisely for stories, to tell China’s stories, to listen to Nigeria’s stories, and even more so, to together write a new chapter of China-Nigeria friendship,” Li added.

Nigeria and China’s strategic ties

According to Li Hengtian, Deputy Director at the China International Communications Group, Nigeria also functions as China's second-largest export market and third-largest trading partner in Africa.

Invoking the words of Nigerian author Chimamanda Ngozi Adichie, he remarked that stories represent the highest form of human communication.

Li further stated that the gathering in Beijing served to facilitate the exchange of national narratives and to co-author a new chapter in the diplomatic friendship between China and Nigeria.

He described the two countries as civilizational allies, noting a diplomatic relationship that has been maintained since 1971.

“For over half a century, this friendship has been like the Niger River and the Yangtze River: though separated by vast oceans, they each flow ceaselessly, eventually merging into the great sea of a community with a shared future for mankind,” he said.

Furthermore, Li underscored Nigeria's strategic significance within China's broader objectives for economic expansion across Africa.

“From the Lagos Light Rail to the Abuja Rail Mass Transit, from the Lekki Deep Sea Port to the Zungeru Hydropower Station, monuments of China-Africa cooperation have risen one after another across the African continent,” he stated.

He remarked that this relationship contributes to a collective future for humanity.

Furthermore, Li emphasized Nigeria's strategic importance within China's broader economic expansion objectives in Africa.

The deputy director noted that several significant projects, including the Lagos Light Rail, the Abuja Rail Mass Transit, the Lekki Deep Sea Port, and the Zungeru Hydropower Station, serve as prominent examples of China-Africa cooperation across the continent.

He further asserted that the Forum on China-Africa Cooperation and the Belt and Road Initiative are now significantly dependent upon the bilateral relations between China and Nigeria.

“In the grand narrative of the Belt and Road Initiative and the Forum on China-Africa Cooperation, China-Nigeria cooperation has always been a highlight. More and more Nigerian youth are travelling east to pursue the starlight of knowledge in Chinese institutions; more and more Chinese builders are heading west to Nigeria to sow the seeds of development on its fertile soil,” he said.

“This year, the two countries are working together to build a China-Nigeria community with a shared future. I believe that with the joint efforts of China and Nigeria, mutually beneficial cooperation will progress steadily and yield more fruits on the African continent,” he added.

By Chinedu Okafor, Business Insider Africa

Nigeria, Chinese firm partner to build EV plants with 70,000-unit capacity

Nigeria is set to take a major step in electric vehicle manufacturing after Hybrid Motors Nigeria signed a partnership with a Chinese automotive firm to establish large-scale production facilities in Lagos and Abuja.

The agreement brings together Hybrid Motors Nigeria and Launch Design to jointly develop electric vehicle (EV) manufacturing plants with a combined annual capacity of 70,000 units, Daily Trust reported.

The partnership will support the production of “Acely,” an indigenous automobile brand designed specifically for Nigerian roads and driving conditions. Both companies said the collaboration combines local market understanding with global engineering expertise to strengthen Nigeria’s automotive sector.

Chief Executive Officer Jubril Arogundade said the initiative marks a significant step toward building a strong domestic auto industry, adding that the goal is to produce vehicles that meet international standards while remaining tailored for local needs.

His counterpart at Launch Design, Wang Xun, said the partnership offers an opportunity to contribute to Africa’s growing automotive manufacturing landscape, highlighting the role of engineering capabilities in supporting the venture.

Under the agreement, the Lagos facility will serve as the main production and assembly hub with an annual capacity of 50,000 units. Located along the Lekki-Epe corridor, the plant is expected to benefit from proximity to the Lekki Deep Sea Port, supporting exports to markets including Ghana, Benin, Togo and Côte d’Ivoire.

The Abuja plant, with a capacity of 20,000 units annually, will function as a secondary production and technology centre, catering to northern Nigeria and neighbouring Sahel countries.

The companies said the dual-location strategy will help reduce logistics costs, improve operational efficiency and create jobs across different regions.

The “Acely” vehicles will focus on energy efficiency and advanced technologies suited to Nigeria’s terrain and climate, while supporting the gradual shift toward electric and hybrid mobility.

The project aligns with the Federal Government’s National Automotive Industry Development Plan, which aims to expand local vehicle production and attract investment into the sector.

Industry observers say the move could play a key role in advancing Nigeria’s clean mobility goals while strengthening its position in Africa’s automotive manufacturing space.

By Vivek Waghmode, BIO Energy Times

Video - Nigeria, China partner to build EV plants

Nigeria’s crude oil output rises to 1.66 million bpd in April

Nigeria’s crude oil and condensate production rose to an average of 1.66 million barrels per day (bpd) in April 2026, bringing the country close to its production target under the Organisation of Petroleum Exporting Countries (OPEC) quota.

The figures were disclosed in the latest provisional data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

“Daily average production was 1,663,413 barrels per day, comprising both Crude oil (1,488,540 bopd) and condensate (174,873 bopd),” the report noted.

It said the average crude oil production represents 99 per cent of OPEC quota (1.5 mbpd), showing the country is steadily closing the gap after months of underperformance.

The data showed that total liquid production — comprising crude oil, blended condensate, and unblended condensate — increased to 49.90 million barrels in April, translating to a daily average of 1,663,413 barrels per day, compared to 1,546,093 bpd recorded in March.

This represents a month-on-month increase of about 7.6 per cent. Of the total April production, crude oil accounted for 44.69 million barrels or 1,488,540 bpd, while condensates contributed 5.25 million barrels, comprising blended condensate of 1.56 million barrels and unblended condensate of 3.69 million barrels.

It added that the lowest and highest combined crude oil and condensate production levels during the month were 1.46 million bpd and 1.85 million bpd respectively.

Bonny, Forcados lead production surge

A breakdown of output by terminal showed that Bonny remained Nigeria’s highest-producing crude stream in April, posting a blend total of 8.85 million barrels, up from 8.42 million barrels in March.

Bonny’s crude oil production alone rose from 7.99 million barrels in March to 8.36 million barrels in April, while condensate increased to 492,779 barrels from 427,035 barrels.

Forcados recorded one of the strongest recoveries during the month, with total blend production rising sharply to 7.35 million barrels in April from 5.18 million barrels in March.

Its crude oil production jumped to 6.65 million barrels from 4.73 million barrels, while condensate output also rose significantly to 700,249 barrels.

Qua Iboe posted total production of 4.97 million barrels in April, slightly lower than the 5.25 million barrels recorded in March, while Escravos declined to 4.13 million barrels from 4.47 million barrels.

Brass terminal also saw a drop, with total blend production falling to 1.25 million barrels from 1.38 million barrels.

Offshore fields support output

Among offshore assets, Bonga recorded a strong performance with 3.06 million barrels in April, up from 2.85 million barrels in March.

Erha also improved to 2.05 million barrels, while Egina produced 1.47 million barrels and Usan contributed 928,616 barrels.

Utapate delivered 1.78 million barrels, while Nembe posted 1.19 million barrels during the month.

The data also showed stable contributions from Ugo Ocha (Jones Creek), Sea Eagle, Anyala Madu, Pennington, Abo and other smaller streams, reinforcing broader supply stability across the sector.

Nigeria’s unblended condensate production stood at 3.69 million barrels in April, equivalent to 122,840 bpd, while blended condensate reached 1.56 million barrels or 52,032 bpd.

Among condensate streams, the data published by the commission showed that Agbami remained the largest producer with 2.01 million barrels in April, followed by Akpo with 1.34 million barrels and Tulja-Okwuibome with 304,827 barrels.

This sustained condensate production continues to support Nigeria’s overall liquids output and helps improve revenue inflows, especially at a time of elevated global crude prices.
Revenue implications

The improved production comes amid strong international crude prices, increasing the prospect of stronger oil earnings for the federal government and improved foreign exchange inflows.

With Brent crude trading above $120 per barrel during parts of April, Nigeria’s stronger output could significantly improve fiscal performance, especially as the government seeks to fund its 2026 budget and reduce pressure on external reserves.

The increase also strengthens Nigeria’s standing within OPEC, where the country has struggled in recent years to meet assigned production levels due to oil theft, pipeline vandalism, underinvestment and operational shutdowns.

Despite the improvement, analysts warn that sustaining higher output will depend on continued pipeline security, stable operations at key terminals, and faster investment in upstream infrastructure.

They note that while the April performance is encouraging, consistency remains critical if Nigeria is to maintain production near quota levels and fully benefit from higher global oil prices.

The NUPRC described the figures as provisional, indicating that final reconciled numbers may be subject to slight adjustments.

By Abdulkareem Mojeed, Premium Times

Nigeria’s $118 billion stock market slips as traders cash out after weeks of gains

Nigeria’s stock market paused for breath on Thursday after weeks of relentless gains, with investors taking profits in several high-flying stocks even as the broader rally remained intact.

The benchmark NGX All-Share Index fell 0.1% to close at 252,243.11 points, trimming 265.08 points from the previous session.

The decline was modest compared with the market’s recent run, which has pushed Nigerian equities among the world’s strongest-performing assets this year.

Despite Thursday’s pullback, the market is still up 5.22% over the past week, 20.51% over the last month and 62.1% since the start of 2026, extending a rally fueled by banking stocks, industrial giants and renewed foreign investor interest in Africa’s largest economy.

Trading activity, however, slowed.

A total of 1.04 billion shares worth NGN 41.5 billion were traded in 74,677 deals, representing a 34% drop in volume and a 55% decline in turnover compared with Wednesday’s session. The weaker activity suggests some investors are becoming more selective after the market’s rapid climb.

Nigeria’s stock market capitalization now stands at NGN 161.7 trillion, equivalent to roughly $118 billion.

Among individual stocks, logistics company Red Star Express led gainers after jumping 18.59% to NGN 31.90 per share. It was followed by Cornerstone Insurance, Austin Laz & Company and Learn Africa.

On the losing side, Zichis Agro Allied Industries dropped 10.09%, while FTN Cocoa Processors, Meyer and RT Briscoe also posted steep declines.

Trading was dominated by retail-driven activity in mid- and large-cap stocks. Chams recorded the highest traded volume with 128 million shares exchanged, followed by VFD Group, First HoldCo and Access Holdings.

Sector performance was mixed. Insurance stocks outperformed, with the NGX Insurance Index gaining 0.46%, while the NGX Pension Index also advanced.

Oil and gas stocks remained near multi-year highs, with the sector index now up more than 128% this year as investors continue betting on energy earnings and naira-driven revenue growth.

The latest market pause comes as investors assess whether the rally can be sustained after months of aggressive buying.

Analysts say expectations of stronger corporate earnings, currency stability and improving foreign exchange liquidity have helped support sentiment toward Nigerian assets in recent months.

Still, the sharp drop in turnover on Thursday may signal growing caution among traders after one of the fastest stock market rallies Nigeria has seen in years.

By Ayodeji Adegboyega, Business Insider Africa