IMPACT Of LEATHER & LEATHER PRODUCTS IN NIGERIAN ECONOMIC GROWH AND BUSINESS DEVELOPMENT

Abstract

The production and sale of leather products have played a significant role in Nigeria’s economic growth and business development. However, the industry faces challenges such as inconsistent policies, infrastructure deficiencies, and the need for technological upgrades also the study is designed to access the importance roles of leather products to economic growth and development. The results of the research findings showed that availabilities of tanneries should be discouraged foreign products and encourage patronizing made in Nigeria leather products, and diversification of the leather products and leather goods which is the second command revenue to Nigeria economy. Use of locally available materials for income generation, and solving unemployment among the teeming youths aim of the study, hides and skin conversion into leather product will lead to economy development of Nigeria. There’re needs for both public and private partnership in order to encourage leather and leather product improvement, technical and extension support to development an effective system in leather processing and to finishing stage. Generally, the leather and leather products industry play a prominent role in the world’s economy. UNIDO estimated that world leather export is dominated by developing countries while developed countries dominate export of Finished Leather Products. Global estimate of leather production is about 23 billion square foot annually. Asia accounts for about 57 percent of heavy leather production and 44 percent of light leather production. Europe accounts for 17 percent and 24 percent of global heavy leather and light leather production, respectively while Africa contributes the least accounting for one per cent of heavy leather and 4 percent of light leather production.