• About
  • Advertise
  • Contact
Friday, October 3, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Nigeria Now Earns $800mln From Leather Products Exports, Targets $20bln By 2025 – NILEST

Vital News by Vital News
October 2, 2022
in Economy
0
Share on FacebookShare on Twitter

Abuja – The Director-General, Nigerian Institute of Leather and Science Technology. (NILEST) Zaria, Prof. Muhammad Yakubu, said Nigeria’s total exports of leather products hit $800 million this year.

Yakubu stated this in an interview on Sunday in Abuja.

He said that between 2018 and 2019, the exports of Nigerian leather products were about 800 million dollars but later declined in 2020 due to COVID- 19 epidemic to $650.

“The national leather policy proposes that by the year 2025, revenue from the leather products exports will be around $1 billion,’’ Yakubu said.

According to him, by the figure, Nigeria had already crossed half of $650 million to $800 million dollars this year.

RelatedStories

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

Why EFCC Must Unravel Alleged Financial Malfeasance, Misapplication In Yobe By Usman Machina

Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan

Nigeria’s Rising Trade Surplus Shows Reforms Driving Real Diversification – TSF

The D-G said that the total trade of the leather products was presently between $300 and $400 billion globally.

He said that out of this figure, Nigeria could account for 15 to 20 per cent to hit $20 billion by 2025.

Yakubu said, ”every week, more than 20,000 pairs of shoes and different high quality leather materials were exported to African, Asian and European countries from South- East, South- West and Northern parts of Nigeria.

“You can imagine how much we are talking about in a month or a year.’’

Yakubu, however, said the high cost of imported processing materials was responsible for the spike in the prices of most Nigerian leather products compared to the foreign ones.

“For instance, now you can get a leather of 1 square meter costing about $5.

”But, by the time you add up production costs, the cost of processing may rise to about $30.

”So, you may end up buying imported leather rather than buying leather processing materials,’’ the D-G said.

Yakubu said that in view of these problems associated with the high costs of processing materials for leather industries, the institute had used its researchers to find lasting solutions.

“Leather industries can now get materials locally to produce leather at a lower cost, sell it abroad with high quality and quantity,’’ he stated.

Yakubu further said that Nigeria could attain high level production of leather in the world if science and technology were accorded special attention, especially in the area of manufacturing.

“Our local industries must be revived and Small and Medium Industries must be assisted with capital and training just like what obtains in Asian countries,’’ he urged.

The D-G appealed to the governments at all levels to introduce special local technology and industrialization programmes.

“The world is fast moving on technology, we are in a paradigm shift where only people with skills have upper hand in the economy,’’ Yakubu said. (NAN /vitalnewsngr.com)

Tags: exportsinstituteLeatherproducts
Previous Post

NPSF Calls On Foreign Affairs Ministry, Envoy, AfCTA To Address Unfair Treatment Of Nigerians By Liberia

Next Post

Second Niger Bridge Is 95pct Ready – FG

Vital News

Vital News

RelatedStories

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth
Economy

Gambari Urges Global Leaders To Act On Gulf Of Guinea Security To Unlock Africa’s Wealth

September 27, 2025
Court Berates EFFC Over Disregard For Rule Of Law, Orders Immediate Release Of Aisha Achimugu
Crime

Why EFCC Must Unravel Alleged Financial Malfeasance, Misapplication In Yobe By Usman Machina

September 26, 2025
Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan
Culture

Economy Has Turned Around, There’s Light at The End Of The Tunnel – President Tinubu At Installation Of New Olubadan

September 26, 2025
C-ISOWN Praises President Tinubu On Credible Delivery Of Social Welfare Programmes, Achievements In Nigeria
Economy

Nigeria’s Rising Trade Surplus Shows Reforms Driving Real Diversification – TSF

September 26, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Business

Dangote Refinery Reviving Moribund Companies In Nigeria – Manufacturers

September 24, 2025
Next Post

Second Niger Bridge Is 95pct Ready - FG

El-Rufai Condemns Lynching Of 2 Persons In Kaduna

Mentally-sick Woman Delivered Of Twins In Ekiti

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Cardinal Onaiyekan Urges Leaders To Promote Human Dignity, Oneness

Cardinal Onaiyekan Urges Leaders To Promote Human Dignity, Oneness

3 years ago

10 Northern APC governors back Southern presidential candidate

3 years ago
Guber Poll : Tinubu Expresses Optimism Kogi Will Remain In APC

Guber Poll : Tinubu Expresses Optimism Kogi Will Remain In APC

2 years ago
Ayu, PDP National Chairman Suspended For Anti-party, Failure To Pay Dues

PDP Replaces Ayu, Appoints Damagum as Acting National Chairman

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

Bandits Kidnap Police Officer In Kwara

Death Toll In Ibaji Boat Mishap Rises To 36

Arrest of 147 Terrorists In One Week, Confirms Tinubu Is Boosting Troops’ Morale – Group ‎

Fubara Sacks Commissioners, SSG, SAs, SSAs

2027 : Group Holds Awareness Walk In Kogi, Reaffirms Commitment To Vision, Leadership Of President Tinubu

Trending

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

by Vital News
October 2, 2025
0

The Kogi State Government says it will commence strict enforcement of ban on Zariagi, Osara and other...

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Bandits Kidnap Police Officer In Kwara

October 2, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29 October 2, 2025
  • Realnews Announces Theme, Date For It’s 13th Anniversary Lecture October 2, 2025
  • Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication October 2, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In