Business
Glamour, Fun As Sunquest Partners Zenith, BandRus, Others to Host First Ever Alimosho Food Festival
By Eric Elezuo
The Youth Centre in the heart of Abesan Town in Alimosho Local Government Area of Lagos State, came alife penultimate Sunday, when Sunquest Discovery Limited in association with Zenith Bank, BandRus, MMS among others hosted the first ever food festival in the area.
Successful in all ramifications, stakeholders in the food sector, from all walks of life, gathered to showcase their culinary skills and technology embedded in the preparation of local and continental dishes and other edibles while calling on the local and state governments to address inflation and tackle the high cost of food materials so as to curb poverty in the country.
Speaking on the intentions behind the festival, the Chairman Sunquest Discovery Limited, the organisers of the festival, My Isiaka Lawal, said the festival was organised to give opportunities to good vendors to showcase their products as well as allow consumers to purchase food at cheaper prices against the high cost in the market.
He added that Alimosho, being the largest local government in Lagos State, was chosen because of its high population as it would afford more people the opportunity to benefit from the event.
“We understand the plight of the ordinary in trying to make a living, and also the fact that eating healthy food at affordable price will help to face the task of building the nation from all fronts.
“The cost of food as well as food shortage have become a problem in Nigeria which should be addressed by the government. While we call on the government to tackle the problem so as to make life easier for Nigerians, we have chosen this food festival to contribute our quota to alleviating the problem,” Lawal said.
He added that the festival also afforded the organizers the opportunity to test run an application which would allow food vendors to market their goods online.
On their part, stakeholders and food vendors also spoke of their expectations from both the government and organisers, citing high cost items as their major challenge.
One of the vendors, Mrs Omoluyi Esther, who deals in sales of local food commended the organizers for putting together the event.
She however, lamented the daily increase in food items, which according to her, is affecting many companies involved in food production business.
“As small scale business owners, there are challenges we are facing such as daily increases in prices of food.
“Today you buy something for N200 and tomorrow it goes up to N500. Government should try to make sure there is money in circulation and bring down prices of food stuff. In that way, they can address food scarcity,” she said.
Another vendor, Mrs Adekunle Olamide of Checkers Food said for the government to reduce poverty, ‘ it should help to reduce in prices of goods.’
“They should make sure there is stability in the economy. The instability is affecting all brands and they are finding it hard to get materials for production. When they increase prices of their goods, it’s the consumers that bear the brunt. So the government should help us stabilize Nigeria’s economy so that brands will find it easier to produce,” she urged.
A Nollywood actor, Joseph Momodu, who was the special guest at the event commended the quality of food on display at the festival.
“The kind of food you see here, you might need to order them online before you get them, but this event has offered people the opportunity to get them at their doorsteps and cheaper. The festival is of great significance to everyone,” he said.
He added: “There is hunger in the land. The government should help us subsidize food stuff to the nearest minimum to make food available. They should also control inflation especially the dollar scarcity so that the common man can do his or her business. They promised us that dollar will go down but it’s not so now. Government should do their business so that the masses can enjoy.”
While appreciating the over 22 ventures, and all the stakeholders and sponsors, who turned up for the successful test run of the first edition, the Creative Director of Sunquest Discovery, Adekoya Afeez, said the quality of food and products was commendable, promising that the subsequent editions of the festival will be bigger, and also be taken to other parts of the state so that the entire state can feel the impact of the fieata.
Adekoya also invited more stakeholders and sponsors to join hands with the company as they get ready to host another edition in no distant time.
The highlight of the event was display of acrobotics and choreographed dance steps from happy participants and distribution of various food items by sponsors including Labule Farms, which gave out lots of garri, Checkers Custard and a host of others.
Ecobank Nigeria, a subsidiary of the leading Pan‑African financial services group, Ecobank Group, has announced the fifth edition of the Adire Lagos Experience, its flagship cultural and creative industry showcase. The event will take place from June 11–14, 2026, at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.
The 2026 edition is themed “Threads Across Borders,” celebrating the depth and global resonance of Adire as a uniquely Nigerian art form, while positioning it within Africa’s broader textile and cultural narrative.
Rooted in Nigeria’s rich heritage, the Adire Lagos Experience continues to serve as a gateway for cross‑border cultural exchange, reinforcing Ecobank’s Pan‑African vision through culture‑led commerce.
The four‑day event will feature over 100 vendors, with the exhibition remaining predominantly Nigerian, reflecting the country’s leadership as the home and heartland of Adire production. To enrich diversity and continental collaboration, 10 percent of participating vendors will come from outside Nigeria, offering complementary African textile expressions and creative perspectives that foster knowledge exchange and cross‑border partnerships.
Speaking on the upcoming event, Omoboye Odu, Head, SMEs, Partnerships and Collaborations at Ecobank Nigeria, highlighted the intentional balance between cultural authenticity and Pan‑African inclusion.
“Adire is proudly Nigerian, and this platform remains firmly anchored in celebrating our local artisans and creative enterprises. At the same time, Ecobank’s Pan‑African mandate allows us to thoughtfully open the space to creators from other African markets, encouraging collaboration, shared learning, and trade connections that elevate African craftsmanship as a whole,” she said.
Beyond the exhibition booths, the Adire Lagos Experience 2026 will offer indigenous cuisine, African music and cultural performances, alongside curated networking and business engagement sessions designed to strengthen linkages across the Adire and wider creative value chain—from artisans and designers to merchants, buyers, and cultural enthusiasts.
As part of its ongoing commitment to supporting SMEs and the creative economy, Ecobank has opened registration for prospective exhibitors, with selected applicants eligible to receive complimentary exhibition booths. Applications close on April 28, 2026.
Through the Adire Lagos Experience, Ecobank continues to champion Nigeria’s cultural leadership while advancing Pan‑African collaboration—transforming heritage into enterprise and reinforcing its role as a truly Pan‑African institution driving impact beyond banking.
As the Central Bank of Nigeria’s (CBN) recapitaliSation exercise came to an end March 31, 2026, most banks operating in the country rose to the challenge and met the requirement ahead of time.
However, Fidelity Bank’s proactive approach paid off, and it continued to demonstrate its commitment to growth and innovation. In a remarkable display of investor confidence, Fidelity Bank opened and concluded a private placement in just one day on December 31, 2025. Leading institutions, including AFREXIM Bank and its subsidiaries, invested in the bank, showcasing their faith in Fidelity’s vision and leadership.
With the CBN’s verification process complete, Fidelity Bank’s capital base now exceeds the required N500 billion threshold. This milestone positions the bank to expand its footprint, drive growth, and deliver returns to investors.
Market analysts stated that the successful completion of the private placement underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals, even amid tightening regulatory standards and evolving macroeconomic conditions.
The lender had announced to the investing public that it has surpassed the N500billion regulatory capital threshold following the successful completion of a N259billion private placement of ordinary shares.
The Company Secretary, Fidelity Bank, Ezinwa Unuigboje in a signed statement on Nigerian Exchange Limited (NGX) disclosed that the private placement, conducted with the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), was opened and closed on December 31, 2025.
According to her, the proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5billion to N564.5billion, subject to final regulatory approvals.
The latest capital raise positions the lender comfortably above the new minimum capital requirement of N500billion for commercial banks with international authorisation, as stipulated by the apex bank under its banking sector recapitalisation programme. According to the bank, the private placement was carried out pursuant to the mandate granted by shareholders at its Extraordinary General Meeting held on February 6, 2025.
At the meeting, shareholders authorised the board to issue up to 20 billion ordinary shares through a private placement as part of measures to strengthen the bank’s capital base and enhance its capacity to support economic growth. The N259billion raised through the private placement builds on earlier capital-raising efforts by the bank. Fidelity Bank had stolen the show by taking a bold step in June 2024, launching a Public Offer and Rights Issue to raise capital.
Fidelity Bank successfully raised N175.85billion via a combination of a public offer and rights issue, which had increased its eligible capital to N305.5billion at the time. That exercise left a capital shortfall of N194.5billion relative to the new regulatory benchmark, a gap now fully covered by the latest transaction. Fidelity Bank’s strategic moves have set it up for success, and the stage is set for the bank to make significant strides in the Nigerian banking sector. Fidelity Bank noted that the strengthened capital position will enhance its balance sheet resilience, support business expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy, in line with regulatory expectations. The bank added that it remains focused on value creation for shareholders, prudent risk management and sustained profitability as it navigates the post-recapitalisation phase of the banking sector. Meanwhile, the stock price of Fidelity Bank closed trading April 10, 2026 at N19.50 per share on the NGX.
Access Bank Plc has been named Nigeria’s Most Valuable Brand for the fifth consecutive year by Brand Finance, reinforcing its leadership position in the country’s financial services sector.
Brand Finance announced this in its Nigeria 25 2026 report, which ranks the country’s strongest brands based on brand value, brand strength, and underlying business performance. According to the report, Access Bank’s brand value stands at ₦773.2 billion, maintaining its number one ranking despite short term macro-economic and market pressures.
It attributed the marginal year-on-year decline in brand value to a deliberate strategic shift, as the Bank continues to prioritise long term growth, regional expansion, and international scale over shortterm domestic margins.
Brand Finance pointed out that Access Bank’s sustained leadership reflects a longterm brand strategy anchored on scale, trust, and regional relevance, positioning the Bank to maintain brand strength and resilience as Nigeria’s economy continues its gradual recovery and the competitive landscape evolves.
It highlighted Access Bank’s transition from a local market leader to a cross continental financial infrastructure provider, noting that stronger contributions from its African operations helped offset a decline in Nigerian income during the period. This repositioning supports the Bank’s ambition of serving as a key gateway between Africa and global financial markets.
Importantly, the Brand Finance report also recorded a strengthening of the Access Bank brand, with the Bank rising to third place nationally on the Brand Strength Index (BSI), achieving a score of 88.7/100 and retaining an AAA brand rating. Brand Finance links this improvement to stronger brand coherence across markets and clearer strategic positioning following the consolidation of international acquisitions.
Commenting, Babatunde Odumeru, Managing Director, Brand Finance Nigeria, said, a defining shift in the business environment has been the movement from survival to resilience, with brands that invested through uncertainty now emerging stronger.
“This report highlights a key trend: trust is now the fundamental driver of business growth. With consumers now more cautious about how they spend their money, brands must offer a reliability premium in order to build trust, which is an essential foundation for customer loyalty. The brands that have achieved this have not just stood out but have consistently grown their brand value and maintained their lead in the Brand Finance rankings: If you are reliable, you are valuable.”
Odumeru noted that the rankings were dominated by the banking and manufacturing sectors, driven by homegrown resilience and digital savviness required to convert engagement into customer loyalty. This dynamic, he said, reflects a collaborative strength between the two sectors that continues to underpin Nigeria’s overall brand value.
The Brand Finance Nigeria 25 report is published annually and assesses Nigeria’s leading brands using a combination of brand value, brand strength, and comprehensive market analysis.
