The Federal Government is considering the establishment of a $1 billion Leather Industry Venture Fund to enhance the sector’s growth and competitiveness.
This was discussed during a high-level advocacy meeting between the Steering Committee on the Strategic Implementation Plan of the Leather and Leather Products Policy, the Director-General/Chief Executive Officer of the Nigerian Institute of Leather and Science Technology and the Minister of State for Industry, John Enoh.
The meeting focused on key policy recommendations, such as increased government support for full implementation of the Leather Policy, access to low-interest loans for leather entrepreneurs through the Bank of Industry, and collaboration with international organisations to modernise Nigeria’s leather industry.
Strengthening campaigns to promote ‘Buy Made-in-Nigeria Leather Products’ was also highlighted.
Senator Enoh underlined the ministry’s support for the leather industry, emphasising its role in job creation, economic diversification, and technical growth.
He asked the group to document the barriers to the Leather Policy’s effective implementation and suggest areas where the ministry should provide strategic assistance.
A prominent point of contention was the minister’s appeal for an alternative to ponmo (processed cowhide), arguing that it should be used in leather production rather than consumption.
“By providing viable substitutes, Nigerians could be incentivised to redirect the use of hides and skins towards industrial and economic development,” he said.
He assured the committee of his full cooperation and encouraged close collaboration with the ministry to achieve greater milestones.
“NILEST remains a pivotal institution in Nigeria’s economic transformation, providing critical research, training, and innovations that will shape the future of the leather industry,” Enoh added.
In his remarks, Chairman of the National Steering Committee, Auwal Mustapha Imam, commended the minister for his proactive approach and support for the leather industry.
He emphasized the progress in the implementation of the national policy on leather products quality, especially the programmes to receive skills, progress in research and create 22 agricultural extension centers across Nigeria to allow players of the leather value chain.
This commitment marks an important step to strengthen the field of Nigeria’s leather sector, expand the competitive potential on a global scale and ensure a more sustainable and feasible industry.
