itma 2027

Lai Labode Foundation Seeks Government Partnership to Launch $500 Billion Nigerian Fashion Economy

The Lai Labode Heritage Foundation, a socio-cultural and economic group based in Abeokuta, Ogun State, has called for a strategic partnership with the Nigerian Federal Government to establish a Nigerian Fashion Federation that could unlock a projected $500 billion African fashion economy.

Announced during a dinner held in honor of Minister of Arts, Culture, Tourism, and the Creative Economy, Hannatu Musa-Musawa, the proposal outlines the creation of a national fashion federation involving representatives from all 36 Nigerian states. The federation’s charter is set to be officially signed at Egbaliganza 2026, alongside the Confederation of African Fashion Charter.

“The federation will formalize Nigeria’s global fashion presence, creating policies, structure, and positioning Nigeria as a continental leader,” said Chief Lai Labode, founder and CEO of the foundation. He also revealed plans for Egbaland to host a Fashion Olympics in 2026, expected to attract participants from 50 African countries.

Labode lamented Africa’s minimal 1.2% share in the $30 billion global fashion market, stating that Egbaland is prepared to lead the continent toward economic transformation through fashion.

Responding to the proposal, Minister Musa-Musawa expressed full support, affirming the Federal Government’s commitment to cultural and economic growth through fashion and creative industries. “We aim to generate $100 billion from tourism and the creative economy,” she stated, referencing a recently approved Federal Executive Council memo directing states to document and harness their unique cultural assets.

The Minister praised the Foundation’s role in organizing the inaugural Egbaliganza fashion event, calling it a model for public-private collaboration in driving cultural and economic progress.

Ogun State Governor Dapo Abiodun, represented by Deputy Governor Noimot Salako-Oyedele, reiterated the state’s commitment to becoming Nigeria’s tourism capital, alongside its industrial and educational leadership. He cited the state’s initiative encouraging civil servants to wear Adire fabric every Friday, which has significantly boosted the local textile economy and revived traditional craftsmanship.

“We’re investing in heritage sites like Olumo Rock, and sectors like fashion, music, film, and sports tourism. With events like Egbaliganza and partnerships with the federal government, Ogun State is well-positioned for the creative revolution Nigeria envisions,” the deputy governor said.

The proposed Nigerian Fashion Federation, Fashion Olympics, and cultural policies mark a bold step toward formalizing and expanding Nigeria’s creative economy, aiming to turn local culture into global capital.

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