Gio-Nigeria Economic Relations on the Development of the Nigerian Textile Sector, 2006–2017

Abstract

The purpose of the study is to investigate how the economic ties between China and Nigeria have affected the growth of Nigeria's textile sector between 2021 and 2023. The study collected data from stakeholders, including policymakers, business owners, and textile industry specialists, using qualitative research methods such as questionnaires, interviews, and documentary reviews. The study's conclusions will provide important light on how the relationship between China and Nigeria has affected the growth of Nigeria's textile sector and will also include useful suggestions for future legislation and company owners. The study found that, especially during the study period, Nigeria's textile sector has developed favorably as a result of the economic ties between China and Nigeria. The partnership has given manufacturers significant opportunities in Nigeria to have access to Chinese resources, money, and technology. New investments, more manufacturing capacity, and access to new markets have resulted from this. Furthermore, new, more effective production methods have been used due to the cooperation between the two nations, improving the productivity and caliber of the textiles produced. Despite the advantages, especially in terms of profit-sharing, intellectual property, and environmental sustainability. The report recommends that both nations should enact more robust policy incentives to promote investment in regional businesses, support the protection of intellectual property, and work to increase the textile industry's environmental sustainability to address these problems. Moreover, the report suggested, among other things, that the two nations work together more closely to exchange resources and knowledge. In its conclusion, the study showed that it has provided valuable opportunities for textile manufacturers to access capital, technology, and resources from China, while also introducing more efficient production methods. However, the economic relationship needs to be further strengthened in terms of policy incentives, intellectual property protection, and environmental sustainability to maximize the benefits of the relationship for both countries. Received: 28 March 2024 / Accepted: 29 June 2024 / Published: 8 July 2024