HOW FASHION INDUSTRY CAN BOOST THE NIGERIAN ECONOMY….NIGERIANS SPEAK?

By Juliana Oladele

The industry stakeholders believe that creating an agenda is the most pressing issue faced by the fashion industry, and then inviting thought leaders to share their perspectives. Then the industry can gradually begin to develop a semblance of structure for creating sustainable change.

-Mrs Omowunmi ogunyemi –Banker

Globally, the fashion industry is worth $1trillion dollars, imagine if we could tap into one per-cent of that figure? With adequate investment, skills training and favourable government policies the Nigerian Fashion Industry can significantly add to the country’s Gross Domestic Product (GDP). For the industry, my expectation is really for fashion designers and other members to add to the value chain to be given a seat at the table of Nigeria’s economic future.

-Olusegun Adesanya-Student

Let us look at our locally made fabrics. When we patronize our locally made fabrics, the resultant effect is that there will be more money in the economy, the fashion industry will grow and unemployment will be drastically reduced.

And when unemployment is reduced it will lift up the GDP(gross domestic product) of our economy

Fashion is a business and a viable investment opportunity; the industry ought to be taken seriously.

-Dr Olamide Toheeb-Medical Doctor

Yea, in my own view, the fashion industry can boost Nigerian economy if Nigeria’s fashion designers can be more creative in terms of designing and if they can make use of all our local materials in making beautiful and attractive styles that the world will marvel at when they see it.

As a result of this, the so-called developed countries will like to share in our dressings and by so doing, we can start exportation business. For instance, can you imagine that the style that the Super Eagles of Nigeria wore to the World Cup in Russia was rated as the most beautiful attire out of the 32 countries that participated.

Also their jersey is also rated as the most beautiful jersey all over the world and this is a great work done by fashion designers. Developed countries can contact those designers to come and design their own jerseys for them too, exportation business can start like that and the economy will be boosted. We will be able to diversify.

-Mr Paul Ayangbemi-Sport trainer

It fosters entrepreneurship basically

Creates opportunities for stylists and the most important element for fashion to be a major player in the Nigerian economy is solidarity, all relevant stakeholders have to work together . No one entity can single-handedly fix the fashion industry. As such, it promotes green economy.

Pastor Jesuniyi Aduragbemi

If in any way fashion industry would boost Nigeria industry, that means the government would need to look beyond the fashion industry we have today and look into the ancient fashion industry we have in Nigeria.

Only if we handle that financially and we modify it to meet the current standard. I’m 100,000% sure our economy state would rise to an advantageous standard.

For foreigners would subscribe into it for sure.

-Mr Adediji Bayo, corper

My own point of view is that the fashion design industry can boost the Nigeria economy Nigerians:

1. Investing more funds in to fashion design
2. Putting fashion design into budget plan of Nigeria

3.Setting up of training center to enhance d training development.

4. It can also leads to competitiveness in production and designing.
5. Also setting up of monitoring committee for quick implementation of fashion design plan.

After all dis plan has been put in place den fashion can now boost d Nigerian economy through

1. Increase in total GDP of Nigeria
2. Encourage local production

3.it can leads to improvement in unemployment in Nigerian

Also fashion can help in creating wealth such as buying and selling of clothing and accessories.

Lastly, our unique cultural attire can be patronized by foreigners and Nigerians who are living abroad if we embrace it and wear it. It will boost foreign trade and as well motivate foreign investors.

–Mrs Adediji omowunmi-stylist

It encourages entrepreneurship – For many business-minded entrepreneurs trying to overcome severe financial constraints, fashion design encourages economic development in Nigeria by allowing anyone with an eye for fashion an opportunity to generate income both locally and – via the internet – internationally. The market for well-designed clothes is unique based upon the simple fact that despite a global economic slowdown, consumers will always have a need for clothes. Furthermore, if a particular market for clothing is lower than usual, innovative entrepreneurs can take advantage of previously untapped overseas and emerging markets as a means of increasing sales.

2. It stimulates the local economy – Fashion design encourages economic development in Nigeria through the employment of talented tailors, textile artists, aspiring models, and support staff necessary for the operation of large design studios; along with the resulting sales opportunities for local fabric retailers and production facilities. Fashion designers help to bolster Nigeria economy by the infusion of capital both from the sales and expansion of their small businesses into new markets.
3. It serves as a sustainable business model – Fashion design encourages economic development in Africa due to the inherent sustainability of the clothing and apparel industry. Through the local farmers providing the raw materials, the weavers who construct the fabrics, and the merchants who sell it.
4. It serves as a sustainable business model – Fashion design encourages economic development in Nigeria due to the inherent sustainability of the clothing and apparel industry. Through the local farmers providing the raw materials, the weavers who construct the fabrics, and the merchants who sell the fabrics in local markets, fashion is an industry that employs many people whose entire economic well being is contingent upon the quarterly sales of the designers. The sustainability of fashion design allows for most of the profits and accompanying investments to go back into the community, along with the eco-friendly methods of cultivation practiced by many Nigerian farmers.

–Seyifunmi Daniel-Student

POST SCRIPT:

Fashion is the word for what most people wear or should wear (clothes, shoes, belts, hats, bags, etc.) in a society and the way they are designed. Fashion industry refers to all aspects of fashion i.e. design, fabrics production, marketing and education. When in full bloom, the fashion industry is expected to have professional designers, models, modeling agents, tailors, fashion photographers, fashion schools, fashion retailers, fashion journalists and magazines, etc. in successful operation in Lagos.