The Director General of the Nigerian Institute of Leather and Science Technology (NILEST) Prof. Mohammed Yakubu says Nigeria’s leather industry raked in the sum of $645 million.
The Director General, who said this at the just concluded Technology and Innovation Expo 2024 in Abuja, added that the leather market has helped to boost the country’s Gross Domestic Product (GDP).
He said, “The leather sector has undeniably proven to be prolific, making significant contributions to economic development, security, GDP, high employment, wealth generation, and infrastructural development. The leather industry is about $400 billion, globally acknowledged as a driving tool for industrialisation especially in the developing world.
“At the national level, the leather industry has played a crucial role in the growth of our Gross Domestic Product (GDP), recording over $645 million in a recent survey.
Experts project that the industry could generate $17.544 billion with an annual production of 1.7 billion pairs of shoes, targeting not only local consumption but also a 10% share in the European and American markets. At the national level, the leather industry has played a crucial role in the growth of our Gross Domestic Product (GDP), recording over $645 million in a recent survey.
The Director, Academic Planning Department Dr Jerry Tagang who represented the DG, said that the leather as a stock of international trade has so many agencies working together with them to provide information on leather and its value chain.
“The institute has worked vigorously through its committee to see that it strategizes to bring a campaign about the value of hides and skin where we have had business to business meetings especially in Kano and Lagos, to add value in harnessing it,” he added.
Similarly, the Director, Policy Analysis Statistics and International Relations, Igili Andrew, said that on the issue of ponmo which is under his purview, initiatives are being put in place by providing other means of livelihood for ponmo traders.
“And by doing so, leaving enough of our leathers to process so that there can be massive employment. Imagine a single small ternary in Kano employing a thousand workers and before now, we had 50 functional ternaries, just multiply that. And for the finished leather goods, which is part of the value chain where we have them in Abuja, Lagos and everywhere unlike the ternaries where we have them predominantly in Kano.
“Like if you go to ABA you will find a lot of people involved in this finished leather goods. For instance we had one of our training where we gave out to our participants, starter packs at the end of the training and the outcome is that, each of these persons trained, was able to employ 5 more persons respectively. In the last year, we have empowered 2000 persons, so just multiply that.”
The theme for this year’s expo is, ‘STI: solution to national economic challenges.’
