The Export Brief The Export Brief 2 | Page 46

standards, limited access to finance, inadequate application of technology, poor skills etc. need to be addressed. One key lesson to learn from Taiwan and the United States as we promote Made in Nigeria is to identity our niche, invest in innovation, research and development and to get maximum value out of our products by protecting our intellectual property through patents and operational systems. One sector that needs to be addressed as a matter of urgency is the Cotton, Textile and Garment sector a critical economic sector. The global fashion industry is currently at $1.1 trillion and represents 2% of the world GDP. It is however estimated to reach $2 trillion by 2020. Despite Nigeria‘s love for fashion among its 170 million people, the country has no significant presence in the global apparel trade. Intact, no item from the sector features amongst Nigeria‘s first 24 exported products in 2015. On the flipside, Nigeria‘s import bill for apparel, related articles, cotton and footwear from China was over $1.6 billion in 2015. This huge market can be satisfied by Made in Nigeria products that can also be traded abroad. Nigerians import apparel from overseas for a number of reasons- including cost, quality and choice options. I recall I was approached sometime back by an American lady who wanted to know what we wear as daily work clothes in Nigeria. Now, most women will relate to my answer I told her I wear Western suits or dresses because I could not afford the cost for traditional clothes as my daily work outfit. I wore those mostly on special occasions. Besides being more expensive because of the amount Of time put into the production of one outfit, as there is an absence of economies of scale, there is also the very predominant problem of non- standardization. Meaning that most women have the hassle of maintaining and dealing with several tailoring outfits and manage all forms of disappointments. This costs time. Money and emotions! In 2015, in my role as Technical Advisor to Chief Executive Officer of the Nigerian Export Promotion Council, I coordinated the participation of Nigerian brands to the world‘s largest apparel sourcing event in Las Vegas. There was a real buzz and thrill for our products, they were described as ‗Chic‘ and Hollywood. That event was an opener for our people… while the designs were outstanding our people needed to learn more about pricing, finishing, brand positioning, marketing. The fashion sector in Nigeria with its high potential for inclusive economic growth along its entire value chain has a number of challenges. The problems begin at the point of primary production and run through the entire value chain. In the last few years, the production of cotton has been minimal.