Ways to Improve the Nigerian Economy Through the Leather Sector-Yakasai

Bello Abba Yakasai has stated that the manufacturers in Nigeria should leveraging on china and Nigeria economic relation to industrialize the economy based leather industry.
He stated this during the Manufacturers Association of Nigeria maiden edition around table at TAHIR Guest palace, Kano.
Yakasai further suggested that instead of exporting leather from Nigeria, China/Nigeria should invest into further procecessing of the products.
This he said will result in more employment, train Nigerian artisanal processors of leather and leather products. It will enhance the growth of MSMEs and encourage export of finished leather products which will growth and earn Nigeria bigger foreign exchange from the industry.
He cited China and Nigeria trade in leather and leather products showed value of export of leather from Nigeria in 2017 Hide and Skins export to China stands between USD6 – 8.5m {World Integrated Trade Solution (WITS)} and Comtrade} while value import of leather products and Leather subtitles from china Footwear 300m pairs annually (industry estimate}value at an (average N2000/pair} – USD1.7b and other products up to 20m pieces valued at over USD600m
Also finished leather Products that have their major or most prominent component made out leather:
  • No further processing
  • Ready for shelves and consumers
Uses of Finished Leather Products
  • Cloth or cloth accessories
  • Decoration and other aesthetic values
  • Protection or safety
  • “Belonging to Fashion Industry”
Yakasai noted that the Nigerian Share of leather economy analysis further disclosed that Nigerian leather Industry generates between $600m to $800m through export annually. Nigeria is tanning and exporting between 40m to 50m skins annually.
According to the Minister of Science and Technology, Nigerian leather industry could be worth about $900m in export in the coming years
Employing about a million people (direct and indirect – FTE)

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