Ecobank to Utilise AfCFTA for global recognition of Nigerian Adire textile

Business a.m.

Ecobank Nigeria Limited, a leading pan-African bank, has announced its dedication to support the exportation of Adire, a locally-produced textile, through leveraging the African Continental Free Trade Agreement (AfCFTA).

The initiative was disclosed by Kola Adeleke, the executive director of commercial banking at Ecobank Nigeria, during the bank’s third annual event held in Lagos with the theme ‘Adire Lagos Experience.

The event showcased the beauty and versatility of Adire, providing a platform to discuss the bank’s vision to promote the textile’s exportation through the AfCFTA, a move that aligns with the bank’s commitment to supporting Nigeria’s economic growth.

Adeleke highlighted the significance of the event, stating that over 100 exhibitors displayed an array of locally processed Adire attires crafted by indigenous designers.

Adeleke further emphasised Ecobank’s commitment to continue partnering with and supporting the exhibitors beyond the event, with the goal of improving the quality of their products for export.

Fagbayi Oluwasesan, the commissioner for culture and tourism in Ogun State, praised Ecobank’s initiative to promote Adire culture, noting that the bank’s efforts are essential to the growth and development of the textile industry.

Expressing his commendation, Oluwasesan said,“The fabric is synonymous with Ogun State. We are the custodians of Adire. It is an indigenous textile from Ogun State and we have to protect it. That is why we are happy with Ecobank for what they are doing today, assisting us to showcase what God has given to us, protecting it, and telling the world that this is what is good for us to be using as fabric.”

Reiterating the Ogun State Government’s support for the local Adire industry, Oluwasesan disclosed that measures have been initiated to address the threat of imported fabrics to the sector.