Ecobank asks SMEs to explore $100b global fashion market opportunities
Ecobank Nigeria has asked fashion-oriented Small and Medium Enterprises (SMEs) to explore export opportunities in the $100 billion offshore fashion industry to earn forex and support domestic economy.
Speaking at the fourth edition of Ecobank’s yearly Adire Lagos Exhibition Fair, Head of Small and Medium Enterprises at Ecobank Nigeria, Omoboye Odu, said the bank is passionate about supporting fashion businesses and nurturing them to harness domestic and global opportunities in the industry.
According to her, the global fashion industry is valued at over $100 billion, with Africa contributing more than $30 billion to that figure. Nigeria, she added, must seize the opportunity to become a key player in this space.
“With development finance institutions, such as the World Bank and the IFC, already offering funding facilities to support fashion industries across Africa, there is no reason Nigeria should be left out.
“We want Nigerian entrepreneurs and creatives to be among the top 25 leading voices in African fashion. That’s why Ecobank is creating accessible platforms at no cost to showcase their work to the world.”
According to her, the event was designed to spotlight indigenous textile craftsmanship, particularly Adire fabric, serve as both a cultural celebration and a business growth opportunity, offering local artisans, designers, and textile producers a unique space to gain visibility, make sales, and connect with wider markets, locally and internationally.
Reflecting on past editions, Odu shared that last year’s event attracted over 20,000 visitors in just four days. One vendor reportedly made N30 million in sales, equivalent to six months’ worth of revenue, demonstrating the event’s commercial viability.
Over 130 vendors are showcasing a diverse range of adire designs, fashion items, and lifestyle products. The fair attracts a wide audience, including fashion enthusiasts, cultural professionals, creatives, entrepreneurs, and shoppers from across Nigeria and beyond.
Notable dignitaries who have so far graced the fair include the Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, who represented the Lagos State Governor, Babajide Sanwo-Olu; Lagos State First Lady, Her Excellency Dr. Ibijoke Sanwo-Olu; the wife of the former Ekiti State Governor, Erelu Bisi Fayemi; Ogun State Commissioner for Women Affairs and Social Development, Mrs. Adijat Motunrayo Adeleye-Oladapo; former Chairman of Ecobank Transnational Incorporated, Emmanuel Ikazoboh; founding President of the FinTech Association of Nigeria (FANI), Dr. Segun Aina; and the owner of Nike Art Gallery, Nike Davies-Okundaye, among others.
Odu expressed delight at the strong turnout, saying: “This year’s exhibition promises a dynamic blend of established brands and emerging designers who embody innovation, cultural pride, and export potential.”
She further emphasised the fair’s role as a major Corporate Social Responsibility (CSR) initiative by Ecobank.
“The Adire Lagos Exhibition Fair is a key CSR initiative, offering SMEs a platform to showcase their products free of charge while fostering economic growth and national unity.
Last year’s event attracted over 20,000 visitors in four days, with one vendor making N30 million in sales—equivalent to six months’ revenue—demonstrating the fair’s strong commercial potential.”
Exhibitors also praised the growing appeal of adire designs. Ms. Fadilat Lawal, Managing Director of Sanyaolu Trading Stores, Abeokuta, highlighted the durability and cultural symbolism of Abeokuta Adire.
Ms. Cynthia Uma, Creative Director of Cecesignature Unisex Clothing, Lagos, emphasised adire’s growing global recognition as a revenue driver for her business.
