The federal government has launched the national leather and leather products policy implementation plan, stressing that it has the potential to generate over one billion dollars by 2025, improve the leather value chain and create employment for the teeming population of the country.

The vice president, Prof. Yemi Osinbajo, who launched the plan in Abuja, yesterday, said that the plan has eight thematic areas, which were mapped out by the implementing agency, the National Institute of Leather and Science Technology (NILEST), and its partners.

He said that when harnessed, the plan can bring much higher export proceeds that can increase earning by as much as 70 percent in the next couple of years, adding that it will help in improving access to credit for the leather product manufacturer in addition to a more intentional infrastructure development.

Osinbajo said:  “Our country is one of the highest producers of leather and finished leather products in Africa and a study carried out by the Nigeria Economic Summit Group projected that the Nigerian leather industry has the potential to generate over one billion United States dollars by 2025.

“The leather value chain is extensive as it includes animal husbandry, tanneries, finished leather products, and leather products marketing. The leather and leather products industry itself currently employs over 700,000 workers with about 500,000 workers in the finished leather goods sector.”

The eight thematic areas include; intellectual property rights, governance, e-leather, environmental and social best practices, marketing, funding, critical infrastructure, and research and development.

He stated that there are about 11 leather exporting companies and they have been very active in the upstream end of the leather value chain, adding that together, these companies generate about 8,000 jobs. According to the vice president, the export of leather has grown steadily reaching a peak of about 117 million dollars in 2018, but fell in 2020 largely due to the pandemic.

He maintained that exports are somewhere in the order of about 272 million dollars, stressing that Nigeria’s semi-finished and finished leather products have their highest patronage in several countries of the world such as Italy, Spain, India, South Asia, and China. He said that the markets in shoes, belts, bags, and folders are all over West Africa and many parts of Africa. “We now have a real opportunity to address the particular challenges and shortcomings of the leather sector with pragmatic strategies that will permanently resolve these issues for optimal productivity as clear,” he said.

Minister of Science and Technology, Ogbonnaya Onu, in a keynote address expressed hope that the European Union and the German Society for International Cooperation (GIZ) through the Nigeria Competitiveness Project (NICOP) would partner with the government in the implementation of the policy.

“The administration of President Muhammadu Buhari is vigorously promoting the increase in local content in all socio-economic activities in the country as well as the diversification of Nigeria’s economy. The Federal Ministry of Science and Technology is supporting this important initiative through offering leadership in the transformation of our economy from resource-based, to a knowledge-based economy that is driven by innovation,” the Minister said.