Nigeria Accelerates Recovery Of Textile Industry
In order to restore the local textile industry, the federal government of Nigeria decided to take out the textile industry.
Spin
20% of the import tariff is imported from the textile sector.
Argongo, Minister of trade and investment in Nigeria, confirmed the decision at a meeting with senior officials of the Nigeria Textile Manufacturers Association (NTMA).
The director general of the Nigeria Textile Manufacturers Association participated in the meeting.
Argonne said that 20% of the tariffs on imported textiles will be restored by the government to all inexperienced textile manufacturing units.
Agonga said the move is aimed at improving Nigeria.
Territory
The productivity of textile units, because the textile sector has enormous employment potential, can generate wealth.
Levying taxes on imported textiles means restoring the textile sector, so there is no doubt about the decision as a preliminary decision to levy taxes on textile imports.
Argonaga said that government taxation is to create a favorable environment to ensure that
domestic
The industry is able to survive and the textile industry is a key sector.
In addition to generating jobs, the textile industry also has enormous potential for generating tax revenues for the government, Argonne said.
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