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BIP implementation pushes raw materials utilisation to 65.7%

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Textile Industry

Implementation of resource-based industrialization and backward integration coverage (BIP) as contained in Nigeria’s Industrial Revolution Plan (NIRP) in addition to proactive measures to avert international alternate publicity dangers has pushed native sourcing of raw materials to 65.7 per cent.

Specifically, native raw-material utilisation elevated to 65.70 % in 2017 from 59.98 % recorded within the corresponding half of 2016; thereby indicating 5.71 proportion level enhance over the interval.

The Central Bank of Nigeria (CBN) had in 2015, restricted 41 objects, together with plastic and rubber merchandise, vegetable oil, cosmetics, poultry merchandise, roofing sheets, wheelbarrows, toothpicks, amongst others, from accessing international alternate from the interbank international alternate market as a measure to drive native sourcing and manufacturing.

Though native raw-materials utilisation was on the rise throughout the sectors, Non-Metallic Mineral Products sectoral group recorded the best utilisation stage at 70.5 % as towards 60.08 % recorded in 2016; thereby indicating 10.four proportion level enhance over the interval.

In the Woods & Wood Products sector, native raw-material utilization elevated to 70.1 % from 58.75 % recorded within the corresponding half of 2016; thereby indicating 11.35 proportion level enhance over the interval.It additionally elevated by 1.49 proportion level when put next with 68.6 % recorded within the previous half. Local Sourcing of Raw-materials within the sector averaged 69.four % in 2017 as towards 51.2 % recorded in 2016; thereby indicating 18.2 proportion level enhance over the interval.

Furthermore, the Chemical & Pharmaceutical sector elevated native raw-materials utilization to 62.6 % within the second half of 2017 from 55.39 % recorded within the corresponding half of 2016; thus indicating 7.21 proportion level enhance over the interval.

Analysis primarily based on industrial zones confirmed that utilization elevated in Edo/Delta, Imo/Abia, and Kano Sharada/Challawa, Ogun, Kano Bompai, Apapa, Ikeja and Kwara/Kogi zones. Conversely, Kaduna, Enugu/Anambra, Rivers and Abuja zones declined within the utilization of native raw-materials within the overview interval.

Local raw-materials utilization elevated in Ikeja zones within the overview interval to 63.2 % as towards 61.three % recorded within the corresponding half of 2016; thus indicating 1.9 proportion level enhance over the interval.

It additionally elevated by 1.8 proportion level when put next with 61.four % recorded within the previous half. Local sourcing of raw-materials averaged 63.2 % in 2017 as towards 49.four % recorded in 2016; thus indicating 13.eight proportion level enhance over the interval.In Apapa, utilisation elevated to 70.7 % within the overview interval as towards 54 % recorded within the corresponding half of 2016; thus indicating 16.7 proportion level enhance over the interval.

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