Ambitious outlook for Nigerian leather industry
Nigeria's leather industry generated $645 million and significantly contributed to the country's GDP, according to the Director General of the Nigerian Institute of Leather and Science Technology (NILEST).
The global leather industry is valued at $400 billion, and Nigeria's experts predict that the industry could generate up to $17.544 billion annually. There are initiatives in place to provide other means of livelihood for ponmo traders, which will leave enough leather to process for massive employment opportunities.
During his speech at the Technology and Innovation Expo 2024 in Abuja, the Director General announced that the projected increase in revenue would be due to the potential to produce 1.7 billion pairs of shoes annually, with focus on local consumption, as well as capturing a 10% share in European and American markets.
