Nigeria on Monday formally signed the hosting rights agreement with Afreximbank for the 2027 edition of the Intra-African Trade Fair (IATF), with both parties expressing confidence that the event, scheduled to hold in Lagos in November 2027, will generate more than $50 billion in trade and investment transactions.
Speaking at the official signing ceremony in Lagos, President Bola Ahmed Tinubu, represented by Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, said previous editions of the Intra-African Trade Fair have collectively generated over $167 billion in trade and investment deals across the continent.
Tinubu noted that the fourth edition of the trade fair held in Algeria alone recorded $48.3 billion in transactions, underscoring the growing importance of the platform in promoting commerce and investment under the African Continental Free Trade Area (AfCFTA).
The President said Nigeria remains committed to strengthening intra-African trade and regional economic integration through various policy initiatives and reforms. He pointed out that the country recently completed its five-year review of AfCFTA implementation in 2025 and has taken additional steps to facilitate exports and deepen trade linkages across Africa.
Among the initiatives highlighted by Tinubu was the launch of the AfCFTA Air Cargo Corridor aimed at boosting export logistics and reducing trade bottlenecks, as well as the pilot of digital trade solutions designed to improve cross-border commerce on the continent.
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He also cited the Customs Partnership for African Cooperation and Trade (CPAC) as a key initiative that is helping to harmonise customs processes, strengthen regulatory alignment and build trust between governments and the private sector.
Tinubu further emphasised the importance of Nigeria’s creative economy as a driver of economic growth and continental influence. According to him, the sector contributed about $25 billion to Nigeria’s gross domestic product in 2025 and employs millions of people across the country.
The government, he said, aims to expand the creative industry to $100 billion in value and create at least two million jobs by 2030 through increased investment and stronger integration with trade and tourism.
He also highlighted upcoming initiatives such as CANEX Weekend 2026 and the Golden Jubilee celebration of FESTAC ’77 as opportunities to promote African culture, creativity and commerce while strengthening the link between cultural innovation and economic development.
The President urged African countries to strengthen cooperation and collective action to unlock the full benefits of the continental free trade agreement, noting that the 2027 Intra-African Trade Fair would serve as a major platform to deepen partnerships, expand trade opportunities and drive sustainable economic growth across the continent.
George Elombi, president of Afreximbank, said the fifth edition of the continental trade fair is expected to generate even larger volumes of business deals than previous editions and significantly deepen trade across Africa.
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He noted that the event is projected to surpass $50 billion in transactions while creating new partnerships and opportunities for businesses, investors and governments across the continent.
According to Elombi, the Intra-African Trade Fair was established to place Africa’s economic transformation firmly in the hands of Africans by promoting trade within the continent and connecting African businesses with investors and global partners.
He explained that while the event will bring global attention and economic activity to Lagos, the broader objective is to convert trade discussions and investment commitments into concrete transactions that expand value addition, create jobs and increase revenues across African economies.
Elombi also urged Nigeria to mobilise broad participation from across the country in order to maximise the impact of the event.
He encouraged organisers to draw participants from major commercial centres such as Alaba in Lagos, Kano in northern Nigeria, as well as Aba, Onitsha and Nnewi in the South-East, noting that these business hubs play a vital role in driving trade and entrepreneurship in the country.
According to him, bringing together producers, traders and entrepreneurs from across Nigeria’s 36 states will be essential in ensuring that the 2027 edition becomes a landmark event not only for Nigeria but for Africa as a whole.
The Intra-African Trade Fair is a flagship initiative aimed at boosting trade among African countries under the framework of the African Continental Free Trade Area.
Elombi said Afreximbank will continue to work closely with the Nigerian government and the Lagos State government to ensure that the 2027 edition delivers stronger economic outcomes.
He added that the event presents a unique opportunity for Nigeria to showcase its entrepreneurial capacity, industrial potential and leadership role in advancing Africa’s economic integration.
Olusegun Obasanjo, former Nigerian President who chairs the IATF Advisory Council, said Nigeria’s hosting of the 2027 trade fair represents a significant milestone in strengthening economic cooperation and trade integration across Africa.
Obasanjo noted that the event, scheduled to hold from November 5 to November 11, 2027, will provide a major platform for businesses, investors and governments to deepen commercial partnerships and unlock new opportunities for intra-African trade.
He also highlighted the historical significance of Lagos as the host city, recalling that the city was the venue where African leaders adopted the Lagos Plan of Action for the Economic Development of Africa, a framework aimed at reducing the continent’s dependence on raw material exports while promoting industrialisation and economic self-reliance.
According to Obasanjo, hosting the trade fair in Lagos reinforces Africa’s long-standing ambition to strengthen regional economic integration and build a more resilient and self-sufficient continental economy.
He reaffirmed the commitment of the IATF 2027 Advisory Council to work closely with the Nigerian government and other partners to deliver a successful event that will surpass previous editions in scale and impact.
While expressing confidence in Nigeria’s readiness to host the event, Obasanjo advised organisers to put contingency plans in place to ensure smooth execution, noting that the trade fair remains a critical instrument for advancing Africa’s economic renaissance and achieving the broader objectives of continental integration.
