At the Water Corporation axis in Oniru, Lagos, the signs are unmistakable whenever Guaranty Trust Holding Company (GTCO) hosts its much-anticipated Food and Drink Festival. Long before one steps into the venue, the surrounding environment tells its own story,one of movement, opportunity, and economic boom.
As the day breaks, commercial buses, taxis, and ride-hailing vehicles flood the area, transporting thousands of attendees from different parts of Lagos and beyond. Drivers operating on platforms such as Uber, Bolt, and inDrive position themselves strategically, capitalising on the influx of visitors. For many of them, the event period translates into significantly higher earnings compared to regular days.
The transportation surge is only one layer of a broader economic ripple effect triggered by the festival. While much attention is often placed on the curated vendors within the GTCO premises, a thriving ecosystem of informal and small-scale businesses emerges just outside the venue.
Roadside food sellers, local canteen operators, and Point-of-Sale (POS) agents set up makeshift stands along adjoining streets, meeting the needs of attendees who seek quicker, more accessible to their locations or alternative options. These micro-businesses, though operating outside the official framework of the event, benefit immensely from the heavy human-traffic.
For many of these entrepreneurs, the GTCO Food and Drink Festival is more than a social or culinary gathering, it is always seen as seasonal economic lifeline. Some prepare days in advance, stockpiling goods and mobilising extra hands in anticipation of increased demand.
Observers note that in 2025, when the festival was held multiple times, the cumulative impact on surrounding businesses became even more pronounced. The consistent flow of visitors translated into sustained commercial activity, reinforcing the event’s role as a catalyst for grassroots economic participation.
Yet, despite these visible gains, conversations around the success of such large-scale events often remain limited to attendance figures, brand visibility, and vendor performance within the venue. This narrow lens overlooks the extended value chain that stretches into the surrounding community.
A more holistic evaluation of GTCO’s Food and Drink Festival would, therefore, include these indirect beneficiaries, transport operators, roadside vendors, and service providers—whose livelihoods are temporarily elevated by the event.
As Lagos continues to position itself as a hub for culture, commerce, and entertainment, events like GTCO’s Food and Drink Festival demonstrate how strategic gatherings can drive inclusive economic impact. Beyond the curated stalls and culinary showcases lies a broader narrative,one of shared opportunity and community-wide gain.
GTCO...on the journey of impactful community growth.
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