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China-Africa Trade Information Service
The Nigerian government recently said that the leather industry could bring about $60 billion in foreign exchange earnings to the country.
Nigeria has signed a memorandum of understanding with Chinese firm Shandong Ruyi International Fashion Industry for an investment of $2 billion in Katsina, Kano, Abia and Lagos states.
The used car market in the African market in the future has tremendous growth potential. Demand for used cars has soared in many African countries due to rising levels of emerging middle class and disposable income in Africa.
Nigerian farmers have said that the Katsina state government has expanded tomato production after dredging irrigation dams.
The local textile industry was boosted after the Nigerian government decided to impose a three-year zzero-rate Value-Added Tax on locally produced textile suppliers.
According to the Nigerian government, during the Christmas period, Lagos (the capital of Nigeria) economy has achieved a substantial increase of N50 billion in entertainment, cash transactions in hotels and creative industries.
President Muhammadu Buhari pledged the commitment of his administration to revive the ‘good old days’ when the cotton and textile industry employed hundreds of thousands of Nigerians.
It is reported that Nigeria's wheat imports in the 2018/19 season will increase by 4% compared to last year’s 4.2 million tons, reaching 5.4 million tons, valued at $2.26 billion.
It is reported that Nigeria spends $60m on agricultural machinery from January to November 2018, which is $10 million higher than the amount imported in 2017.