Post by Ismail AbdulAzeez on Nov 23, 2018 20:09:44 GMT 1
Entrepreneurs in Nigeria should wake up to the huge potentials it offers to the textile market.
Nigeria has the edge to build a multi-billion dollar textile industry as a result of the various cotton plantations in the country.
The apparel and clothing industry value chain begins with the production of cotton and moves through the spinning and twisting of the fibre into yarn, the weaving and knitting of the yarn into fabric, and the bleaching, dying and printing of the fabric to obtain the fashionable garment worn worldwide today.
At each step of the textile value chain, more value is added and additional jobs are created.
The textile business is currently on the rise in Nigeria. The industry alone generates close to $32bn as revenue from export from Nigeria.
And unlike other products that battle with high strict rules of tests, Nigeria’s textiles enjoy duty free passage into United States where it has the largest market in the world because of its unique designs, ethnic African designs and quality.
This is largely due to growing awareness and interest in African fabrics, including its vibrant hues and colours such as wax and printed dyed cotton, and the high quality of craftsmanship in African cultures.
Africa-inspired designs are now regularly shown on the catwalks in fashion shows in countries like Paris, London, Milan etc which further boosts the Nigeria textile export industry.
A lot of people around the world appreciate the African culture and fabrics, and so, the business of textile export will always be successful.
Nowadays, it is very easy to conduct export business from the comfort of your own home.
You may not have to leave the comfort of your home to find foreign buyers for your product.
You can just go on the Internet, register your company on some trade websites and start negotiations with prospects.
After choosing your product and export samples are sent and product is chosen, terms of payment and terms of delivery are agreed with your overseas buyer along with other terms and conditions and issue proforma invoice, in turn you receive export order for the product, followed by purchase order from your buyer.
Also, insurance can be arranged against credit risk and some other risks involved in the export.