Dr. Ezra Yakusak, the Executive Director of the Nigerian Export Promotion Council (NEPC) has said the that presently fashion sector alone accounts for 37 per cent e-commerce revenues to Nigeria’s economy.
Yakusak also said that the e-commerce yearly estimated growth is put at 23 per cent and it is projected to be a $27 Trillion industry by the end of this decade.
He said available records show that the fashion including textile and footwear sub-sector remains the second largest contributor to Nigeria’s Gross Domestic Products (GDP) after food, beverages and tobacco.
The Executive Director, NEPC, said this in Abuja at the official lunch of the Agogo Africa – an African textile promotion e-commerce platform. The innovative e-commerce online platform connects African fashion, textile, garment industry and all fashion value chain to local and international market for patronage.
It is a portal dedicated to display African designer’s products and fashion accessories like shoes, bags, jewelleries, fabrics, gemstones, cotton, beauty and lifestyle products among others.
Yakusak explained that the innovative e-commerce platform would connect the creative industry to the International market especially now that more emphasis is being placed on e-commerce around the world, adding that the council is committed to growing the national economy from other sources outside crude oil.
He said: “lt is not in doubt that sectors such as the apparel, garment, arts and craft, cosmetics and the beauty industry have continued to make tremendous contribution to the growth of our nation’s Gross Domestic Product (GDP).
“Available statistics from ecommercedb.com indicates that e-commerce transactions in 2020 was over USD5 Billion. Presently, Nigeria is ranked 35th largest market for e-commerce globally and records a yearly growth of 42%. Also 26% of Nigerians bought products online as at 2020 (ecommercedb.com). It is equally on record that fashion including textile and footwear sub-sector remains the second largest contributor to Nigeria’s GDP after food, beverages and tobacco (Statista.2022).
“As of today, e-commerce is one of the fastest growing industries in the global economy. The estimated yearly growth is put at 23% and it is projected to be a $27 Trillion industry by the end of this decade. On e-commerce revenue in Nigeria, fashion sector alone accounts for 37%.
“We at the Nigerian Export Promotion Council are committed to growing the national economy from other sources outside crude oil. Hence, we are ever willing to render support to individuals and organizations that present viable options that will enhance market access for Nigeria goods and services of various sectors. This forms the basis of our partnership with Agogo Africa to launch a credible platform to onboard fashion and related sector for trading”.
On his part, Lexy Mojo-Eyes, the Chief Executive Officer of Agogo Africa, said the platform will not only expose Nigeria and Africa’s fashion and textile industry to the global market but will increase foreign exchange and create jobs for the masses.
He called for more government’s support to enable local fashion designers to compete favourably with their international counterparts.
‘’We are collaborating with NEPC, DHL, African Union, and other organizations to come out in full to promote, expose Africa fashion to the outside world that will further increase Foreign Exchange for the people of Africa and create massive jobs for the people”, he said.
Your help to our media platform will support the delivery of the independent journalism and broadcast the world needs. Support us by making any contribution. Your donation and support allows us to be completely focus, deeply investigative and independent. It also affords us the opportunity to produce more programmes online which is a platform universally utilised.
Please click link to make – DONATION