Leather industry generates N25bn yearly – BOI report

Nigeria’s leather industry is believed to have the capacity to generate N24.5 billion annually, that’s about $700 million, while also  creating nearly  700,000 jobs. Reports from Nigeria’s Bank of Industry, the nation’s earnings from  non-oil sector in 2015 exceeded its oil revenue, accounting for 61.1 per cent of collected revenues.

The report says if proper measures were outlined, leather production could boost revenue earned from the sector and increase opportunities. The CEO, Nigeria Export Promotions Council, Segun Awolowo, said with a global market size of $ 20 billion and opportunities in non-oil exports, there is need for increased productivity in the leather industry to meet international brands.