According to a report by JCR-VIS Credit Rating Company, Nigeria generates somewhere between $600 million and $800 million per annum through leather exports. According to the report, Nigeria tans and exports between 40 and 50 million skins annually, while the sector employs roughly a million people.
The value of hides and skins exported to China stood at $6 million - $8 million. The volume of leather trade annually around the globe is valued at $272 billion. This consists of 55% footwear valued at $150 billion as 11 billion pairs of shoes are sold every year. In 2016, world import and export of leather was valued at $2 billion each.