An assessment of revival strategy in a textile sub sector in Nigeria. A study of Kaduna metropolis

Abstract

The massive and frequent rate of textile industry closure in Nigeria is a disturbing phenomenon. Over fifty (50) textile manufacturing firms in Northern Nigeria have folded up, according to a recent survey by Manufacturers Association of Nigeria (MAN). The main objective of the study is to investigate the revival strategies for rebuilding declining textile manufacturing firms in Kaduna metropolis. A cross sectional survey research design is adopted in which relevant data was collected by means of questionnaire instrument. A sample of one hundred and fifty (150) was drawn from a population of two thousand, eight hundred and fifty five (2,855) using Krejcie & Morgan formula for determining sample size and stratified random sampling with proportionate sample size allocation. Data collected was analyzed using Partial Least Square – Structural Equation Model (PLS -SEM) respectively. The empirical results show that Technology and remarketing are found to be positively significant determinant of revival strategy while retrenchment strategy does not appear to have a significant relationship as a revival strategy contrary to the study posited hypothesis. The study concludes that inadequate investment in modern textile technology, use of deficient managerial skills, poor marketing among others are responsible for the decline. The study therefore recommends investment in state-of-the-art textile equipment, technology and innovation in textile industry;, robust marketing effort and sale of qualitative textile products are necessary factors that will aid in rejuvenating and transforming the moribund industry.