‘Fashion industry can play a key role in getting Nigeria’s economy back on track’

Ronke Adeola, project manager, Heineken Lagos Fashion and Design Week – Fashion Business Series, in this interview with BDSUNDAY, explains the idea behind the Fashion Business Series, expectations from the 2016 edition, and how the fashion industry can contribute to revitalising the Nigerian economy.

Does fashion have a role to play in rebuilding Nigeria’s economy?
Absolutely. It is a billion-dollar industry that generates ample revenue for all stakeholders in the value chain. If you look at various developing nations, such as Ethiopia where the fashion value chain generates $10 billion per annum, this can be replicated here. The fashion value chain exists beyond the runway and creates many jobs such as retailers, textile weavers, designers, shop assistants, and many more.

How can the industry emulate Ethiopia’s success?
Investment and planning are essential. Luckily, to create a profitable fashion industry, we need not reinvent the wheel. For fashion to thrive, we need favourable government policies, investment in infrastructure and education specifically pertaining to the sector. The industry also needs the support of the private sector with regard to low interest loans. The sector provides jobs across demographics; it can employ individuals who have not reached higher education. We have to invest in our education institutions, lobby government to create favourable policies and initiatives. Banks also need to lend to fashion businesses at affordable rates. Perhaps even the setting up of a fashion fund to give grants to fashion businesses for specific activities, such as acquiring retail space or export opportunities.

Tell us about the Fashion Business Series.
Fashion Business Series is an event created by Omoyemi Akerele to facilitate conversations with key players from the Nigerian and international fashion industry as a useful tool for exchanging ideas, networking and developing the fashion industry. It is a forum to engage fashion stakeholders, government and the private sector. This year’s theme is ‘Beyond Fashion’ because there is so much more to fashion than people assume. There are so many people that form the value chain that need more visibility and general consideration. For example, raw Nigerian leather is highly sought after in the Italian leather industry and we export large volumes overseas. Yet by exporting raw leather as opposed to processed leather, we lose out on approximately $75 billion. Investment in leather processing will increase our forex reserves and also create jobs.

There are many forums and events on advancing the economy and different sectors, how does this affect the industry?
Unfortunately, creative industries are largely ignored, so it is important to drive awareness through as many platforms as possible. Whether it is through social media or events such as the Fashion Business Series, more attention is needed. There are a lot of conversations on diversifying Nigeria’s economy but the creative sector is often left out. The government is investing heavily in agriculture, solid minerals, transport and power but not fashion. Of course, it is more important to invest in infrastructural projects but fashion should be carried along. At every FBS edition we invite and engage members of the private and public sector. We have worked with the commissioner for trade in Osun State, Nigeria Export Promotion Council (NEPC), PAL Pensions, Sterling Bank and various other institutions to let them know that fashion exists and can be profitable. We are trying to build relationships and generate awareness for the sector and that takes time. One of our success stories is our relationship with NEPC which has made and honoured its commitments to the fashion sector. NEPC supports fashion entrepreneurs by promoting their presence at international trade fairs in view to helping fashion businesses generate forex.

What do you hope to achieve in this edition of the Fashion Business Series?
The theme this year is central to our overall objective, which is for us to reorient our current understanding of fashion. The theme this year ‘Beyond Fashion’ has been set to get us to think about all the other different sectors within the fashion value chain. Within fashion there are many subsectors such as textiles, leather, indigenous crafts, communication, design and more. These sectors are all interlinked. In Nigeria our focus is solely on the finished product or garment. However, there is so much that goes into putting together a garment. There are so many elements that contribute to the fashion industry. In this edition of the Fashion Business Series if attendees leave understanding that fashion has many functioning parts, then I think we have achieved our objective.