Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA … Gets Commendation  from Ogun State Government

Ecobank Nigeria Limited, a prominent pan-African bank, has reaffirmed its commitment to promoting the export of Adire, a locally produced textile, through the utilization of the African Continental Free Trade Agreement (AfCFTA).

This announcement was made by Kola Adeleke, Executive Director of Commercial Banking at Ecobank Nigeria, during the third edition of its annual event, “Adire Lagos Experience,” held in Lagos.

According to the World Economic Forum, AfCFTA aims to eliminate trade barriers and enhance intra-African trade. The agreement is projected to create a single market comprising 1.7 billion people and generate $6.7 trillion in consumer and business spending for the region by 2030.

“The annual exhibition featured over 100 exhibitors showcasing locally produced Adire attire made by indigenous designers. Following the program, we will continue to partner with and support these designers to enhance the quality of their products for export,” Adeleke stated.

He emphasized that the goal is to establish Adire as a globally recognized African brand and to boost the nation’s economy through exports.

Fagbayi Oluwasesan, Commissioner for Culture and Tourism in Ogun State, commended Ecobank for its efforts in promoting the Adire culture and enhancing the sector.

“The fabric is synonymous with Ogun State. We are the custodians of Adire. It is an indigenous textile from Ogun State, and we must protect it. We are pleased with Ecobank’s initiatives today, as they assist us in showcasing our cultural heritage, protecting it, and promoting it globally,” he said.

Oluwasesan also mentioned that the Ogun State government has initiated measures to address the challenge posed by imported Adire fabric, which threatens the local Adire industry.