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Selected by Prince William and fellow members of the Earthshot Prize Council, the winners of the environmental award were announced at the Museum of Tomorrow in Rio de Janeiro, Brazil.
The prize of £1m is awarded to advance or replicate the winners’ work and to recognise their achievement and potential.
With the prize, Akerele plans to establish the first fully functional circular fashion hub in Lagos, which will travel to other African cities.
"This will be powered by culture and craftsmanship, transforming textile waste into new materials, new businesses and sustainable livelihoods.
"This is crucial for a continent with over 30 fashion weeks and where the population is expected to reach 2.5 billion by 2050.
"For generations, global South artisans have sustained global creativity with little recognition while the fashion system's rewarded extraction over care," Akerele said upon receiving the prize.
As Africa’s most influential fashion event, Lagos Fashion Week in Nigeria is a cultural force, redefining the industry across the continent through a distinctly African lens.
Designers who show at Lagos Fashion Week are held to strict sustainability standards, from ethical sourcing and clean production methods to circular approaches that address fashion waste.
By setting the standard for fashion across the continent, Lagos Fashion Week confronts the industry’s greatest challenges: overproduction and overconsumption.
Lagos Fashion Week has helped Nigerian fashion designers and brands embrace sustainable practices.
In the next five years, Lagos aims to replicate its model across five fashion weeks in Kigali, Dakar, and Accra.
“The recognition from The Earthshot Prize is not just about me or Lagos Fashion Week, but about the community of designers, artisans, and young people who continue to prove that African fashion has something powerful and lasting to offer the world,” said Akerele.
Each of the 15 Earthshot Prize finalists will also receive dedicated support to scale their impact, including access to the prize’s platform and Global Alliance.