Dangote polypropylene production will revive textile industry, save Nigeria $267m — MAN,
The Manufacturers Association of Nigeria (MAN) has stated that the production of polypropylene by the Dangote Petroleum Refinery & Petrochemicals will revive Nigeria’s struggling textile industry and save the country $267 million in import costs.
In an interview on the Channels Business Incorporated Programme, the Director-General of MAN, Segun Kadir-Ajayi, highlighted the struggles of the textile industry, which was once thriving and employed over 25,000 workers aged between 18 and 40 in the northern region alone. He explained that many companies have been forced to shut down due to the absence of local polypropylene production and the scarcity of foreign exchange required for imports.
He further stated that the production of polypropylene by Dangote Refinery and Petrochemicals will ensure that Nigeria, which currently imports 90% of its annual polypropylene requirements (amounting to 250,000 metric tonnes), will now become a net exporter, generating foreign exchange to strengthen the economy.
“For us in the manufacturing sector, this is a welcome development. It more than covers the 250,000 metric tons that constitute our national demand, which has been severely lacking. You can imagine the sectors it will impact—the textile industry, the plastic industry, the furniture industry. We are looking at an amount in the region of $267 million being saved. This is the amount spent every year in scarce dollars to import these materials. It is a welcome development for manufacturers, as it will incentivize investment in the sector,” he said.
Dangote’s $2 billion Petrochemical Plant in Ibeju-Lekki, Lagos, is designed to produce 77 grades of polypropylene. With a capacity of 900,000 metric tonnes per year and a turnover of $1.2 billion, it aims to meet the growing demand in plastic processing industries both in Africa and globally. The plant is expected to boost investment in downstream industries, create jobs, increase tax revenues, reduce foreign exchange outflow, and contribute to the country’s GDP growth.
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The Manufacturers Association of Nigeria (MAN) has stated that the production of polypropylene by the Dangote Petroleum Refinery & Petrochemicals will revive Nigeria’s struggling textile industry and save the country $267 million in import costs. In an interview on the Channels Business Incorporated Programme, the Director-General of MAN, Segun Kadir-Ajayi, highlighted the struggles of the textile […]
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