Ecobank Nigeria on Thursday unveiled the fourth edition of its annual Adire Lagos Fair, providing a direct solution for small and medium-sized enterprises (SMEs) seeking market access and growth.
The News Agency of Nigeria (NAN) reports that the exhibition, featuring over 120 exhibitors from across the nation, addresses key challenges faced by these businesses while also promoting Nigeria’s rich cultural heritage.
The four-day event, at the Ecobank Pan African Centre in Lagos, had in attendance vendors, fashion and cultural enthusiasts, creatives and shoppers.
Originating from Abeokuta, the Ogun State capital, Adire Textile is an indigenous indigo-dyed cloth that uses different wax-resistant methods to create beautiful designs.
Omoboye Odu, Head of SMEs Partnerships and Collaborations, Ecobank Nigeria, said the fair was the bank’s way of promoting the country’s cultural heritage while supporting SMEs to scale up to global markets.
Odu explained how the fashion industry had embraced Adire across the globe while listing top brands selling the fabric in the international markets.
Explaining the artistry, she recalled the efforts from early producers of the 1930s, 40s and 50s that imprinted designs, concepts and details not easily replicable to scale up.
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She said: “It takes a lot of work and efforts, which is why the new designs are not as intricate as old ones.
“We’ve come to realise that the fashion industry globally today is easily more than $100 billion.
“African fashion is estimated at about $30 billion.
“We have people like the IFC, the World Bank, doing things to promote African fashion.”
According to Odu, the bank is improving on the annual fair adding and it is getting bigger and better every year.
She said that 20,000 people visited the fair in 2024 and that this year would have more big industry players among the exhibitors.
She said that Adire is homegrown and a national heritage uniting the nation.
She said: “We’ve shown you the beauty of this fabric.
“It’s not just a fashion piece, but something that unites all of us.
“We’ve seen fabric from the North and also from Ghana.
“We’ve also seen fabric from the East, from outside of Lagos, to show you that this one item that we see as a fashion item that can bring all of us together.
“At Ecobank, beyond just our heritage, we’re looking for that pulling factor to unite Nigeria, and also a platform where our creatives can become scalable and make that design.
“Ultimately, we all want to make money.”
Odu said the bank had studied the needs of SMEs and providing them, including access to finance, market, capacity development, governance platform, and structure.
She added: “Last year, the highest selling vendor sold N27 million in four days.
“That was a six-month sale in four days here.
“That’s what this platform does.”
Odu explained that the bank had also developed an app that could link global vendors and buyers to the Nigerian market.
She said the fair, a Corporate Social Responsibility (CSR) of the bank for SMEs, was to display their wares free of charge while making money and also promoting the unity and economy of Nigeria.
Some exhibitors, who spoke with NAN explained how customers were embracing Adire because of new innovations constantly introduced to it.
Fadilat Lawal, Managing Director, Sanyaolu Trading Stores, Abeokuta, explained how the love for Adire had evolved and made Nigeria more globally repositioned and relevant.
“People love Abeokuta Adire because of its durability and we have several designs representing various things in our culture,” Lawal said.
Cynthia Uma, Creative Director, Cecesignature Unisex Clothing, Lagos, explained how Adire had become a globally accepted brand, attracting huge revenue for her business.
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