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Is Fashion the new oil?

ENTHUSIASTS and stakeholders alike in the fashion industry have continuously touted the idea that Fashion has the capacity to be a big earner for the country. They have put their money where their collective mouth is, it would seem, as there seems to be a rise in the showcasing of contemporary Nigerian fashion both at home and abroad.

London, New York, Paris, Milan have been the fashion capitals of the world forever, and while other cosmopolitan capitals continue to strive to join the shortlist or even to displace the privileged four, Shangai is the only one that appears to have a fighting chance. It would appear that a Division2 of fashion capitals has emerged including, Tokyo, Johannesburg, Rio de Janeiro and, hopefully, Lagos.

There has never been any doubt that Nigerians – men and women alike – are stylish enough to sustain a healthy fashion industry but with the Nigerian economy in the doldrums, a new conversation has begun on what industries can replace oil in the bid to diversify our monocultural economy. Fashion is on the front burner.


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