Lagos Trend Week Proclaims Reduction Grant for Nigerian Manufacturers

Studio 189’s present on the catwalk throughout final week’s Lagos Trend Week. LFW

Lagos Trend Week has introduced a 500 million naira ($1.2 million) reduction grant to assist 30 Nigerian trend manufacturers, half of a bigger authorities program to ease the influence of Covid-19 on Nigerian companies whereas additionally rising the nation’s export capability.

“Fundraising for designers on the continent will be an arduous job,” stated Omoyemi Akerele, founding father of Lagos Trend Week, which wrapped its newest version Oct. 30. “Conventional lending fashions have stringent necessities, and most manufacturers usually are not essentially able to go down the fairness route. I consider the Export Growth Facility grant facilitated by the Nigeria Export Promotion Council [NEPC] will assist strengthen the chosen beneficiaries’ entry to market technique for the subsequent season,” she added.

In line with Akerele, the beneficiaries of the grant, whose names haven’t but been made public, have been chosen from an current pool of designers which were collectively offered by Type Home Information and NEPC at Commerce Reveals the world over within the final six years underneath the “Lagos Trend Week Presents” umbrella.

“These manufacturers have been in keeping with solidifying their retail footprint in key cities and digital locations the world over. The intention of the grant is to extend entry to the worldwide marketplace for these manufacturers,” stated Olusegun Awolowo, government director and CEO of the Nigerian Export Promotion Council.

Lagos Trend Week additionally partnered with Fru Ladies and PopSwap, a brand new digital group that hosted the inaugural block-chained enabled “Swap Store” expertise, which noticed items from designers like Emmy Kasbit and Nigerian celebrities swapped in the course of the occasion.

Study extra:

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As Lagos Trend Week kicks off, founder Omoyemi Akerele seems again at ten years of reveals and divulges how Nigeria’s flagship trend occasion might undertake a pan-African technique within the decade forward.

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