Foundation Seeks FG’s Partnership on Creation of $500bn Fashion Economy

James Sowole in Abeokuta

An Abeokuta, Ogun State Socio-cultural and Economic Group, Lai Labode Heritage Foundation, has proposed a collaborative project with the Federal Government for creation of Nigerian Fashion Federation.

The Federation, according to the proposal, will involve the 36 states in the country and it would include signing of a charter by representatives of each state.

The founder and Chief Executive Officer of the foundation, Chief Lai Labode, disclosed the proposal, at a dinner hosted by the Lai Labode Heritage Foundation at the Ake Palace, Abeokuta, in honour of the Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musa- Musawa.

Labode said “The Federation will formalize Nigeria’s presence in the global fashion economy by coordinating representatives from all 36 states and preparing for the historic signing of its national charter at Egbaliganza 2026, alongside the Confederation of African Fashion Charter.

“With representatives from all 36 states, the Federation will champion structure, policy, and global relevance for Nigerian fashion.

“Its charter will be officially signed at Egbaliganza 2026, alongside regional counterparts under the Confederation of African Fashion.

“When we sign this charter, we will place Nigeria at the centre of a projected $500 billion African fashion economy.”

The promoter ‘Egbaliganza’ also disclosed that Egbaland would host a Fashion Olympics in 2026, which will bring about 50 countries in Africa to participate.

He lamented that Africa has only a 1.2% share of the global fashion market of $30 billion, declaring the readiness of Egbaland to lead Africa to a $500 billion fashion economy.

” Egbaland has been the first in many things. We have decided to create new first for Egbaland and in a bid to do this, we established the Egba fashion celebration, tagged Egbaliganza and that was made possible by Alake of Egbaland, Oba Adedotun Gbadebo, who stood firmly with us against all odds.

Responding to the request of the foundation, the Minister reiterated readiness of the federal government to collaborate with all states of the federation to hit $100bn target from Tourism and Creative Economy.

In pursuance of this, the government, had through a memo by the Federal Executive Council (FEC), approved that all cultural values and unique peculiarities of all the states of the federation, should be identified with the aim harnessing them in order to boost the economy through cultural creativity.

Musawa said the bold move, was in pursuance of the commitment of President Bola Tinubu’s led federal government to harness the economic potential in art, culture, tourism and the creative economy, to move to country from a developing country to a developed nation.

The minister expressed readiness of the federal government, through her Ministry to partner Ogun State and the Lai Labode Heritage Foundation on the proposed Fashion Olympics with the aim of hitting the $100 billion target of the Federal Ministry of Art, Culture, Tourism, and the Creative Economy.

The Minister who commended the Foundation for organising the maiden fashion extravaganza tagged ‘Egbaliganza’ in the state, said the government was ready to provide synergy with the state and private sector to take the fashion show to the global level.

She said, “It is the mission of President Bola Tinubu to see that we are not only partners as one entity, but one country strengthened to propagate and to push our culture forward, but to also see how we can have economic growth through cultural creativity and tourism. And the best way we can do that is if we do not work in isolation, we all work together and bring ideas together with private sector entities.

“So, the Federal Executive Council and the NEC have already approved the memo that I talked about, asking that we partner, and the President has already announced the Renewed Hope Culture Programme, where every single culture in villages will be captured as well as the unique peculiarity of that state.

“And when you come to Ogun State, you have to look at Egbaliganza, and this is one of the ways we can capture the unique peculiarity to see that the Federal and state governments partner together with private entities, making sure that we push forward the economic growth and hit a target of $100 billion that my ministry is looking forward to and $1 trillion that the President is looking forward to achieve.”

Speaking at the event, the Ogun State Governor, Prince Dapo Abiodun, said the state, is focusing not just on becoming Nigeria’s education and industrial capital, but also a tourism capital.

Abiodun, who was represented by his deputy, Noinmot Salako-Oyedele said, that the directive by his administration that all civil servants whould wear Adire on Fridays, had led to Adire Rennaisance with not only increase in the quantity of the traditional fabric but also in terms of quality.

Abiodun said the directive, had given the local fabric more prominence and boost the economic empowerment of Adire makers and merchants.

“We are investing in heritage sites like Olumo Rock, fashion, music, film and sport tourism. With sustained efforts and the right partnerships like Egbaliganza, Ogun State is ready for the evolution that the Federal Government envisions,” she said.