As Nigeria sign IATF 2027 hosting agreement in Lagos

Nigeria and African leaders who gathered at the Intra-African Trade Fair (IATF 2027) Hosting Signing Ceremony in Lagos have stated that there is a need to intensify efforts towards achieving the continent’s development aspirations through the Intra-African Trade Fair (IATF).

According to them, African leaders must continue to work collectively to realise the kind of continent its people desire, stressing that initiatives such as the trade fair provide an important instrument for advancing economic cooperation, boosting intra-African trade and fostering shared prosperity across the continent.

Former President Olusegun Obasanjo said Nigeria’s hosting of the fifth edition of the Intra-African Trade Fair 2027 in Lagos represents a major milestone for the country and the continent’s drive toward deeper economic integration.

Obasanjo noted that the agreement formally grants the country the right to stage the trade fair which is scheduled to take place from November 5 to November 11, 2027, in Lagos.

The President and Chairman of the Board of Directors, Afreximbank, Dr George Elombi, expressed confidence that hosting the Intra-African Trade Fair 2027 (IATF 2027) in Lagos, Nigeria.

Wwould surpass the more than $50 billion in business deals recorded at the previous edition in Algiers, Algeria.

He noted that while the event would bring excitement and global attention to Lagos, stakeholders must look beyond the glamour of the fair to focus on the real opportunities it offers.

Also speaking, President Bola Tinubu said Nigeria was positioning the Intra-African Trade Fair 2027 (IATF 2027) as a major catalyst for accelerating trade and investment across the continent under the African Continental Free Trade Area (AfCFTA) framework.

Represented by the Minister of Trade and Investment, Dr Jumoke Oduwole, he noted that preparations for the 2027 Trade Fair came as Nigeria marked more than five years since the commencement of AfCFTA implementation, adding that the country became the first AfCFTA state to complete its five-year implementation review in 2025, in line with obligations under the agreement.

According to him, the review has given Nigeria a clearer understanding of the reforms, investments and institutional frameworks required to fully realise the opportunities offered by the continental trade pact.

He explained that AfCFTA’s scope is broad, covering trade in goods and services, investment, intellectual property rights, competition policy and digital trade, while also prioritising inclusion for women and youth to ensure that no group is left behind in the emerging continental market.

He pointed out that the work ahead for Nigeria and other AfCFTA state parties is both extensive and critical for the continent’s survival and prosperity, expressing confidence that hosting the trade fair in Lagos will mark a defining moment in accelerating intra-African trade and investment.

He said Nigeria aims not only to surpass the level of transactions recorded at previous editions of the trade fair but also to transform the event into a marketplace that integrates ideas, partnerships, capital and skills to tackle barriers hindering the full realisation of a single African market.

Highlighting some of Nigeria’s initiatives to strengthen continental trade, he recalled that in May 2025 the country launched a dedicated AfCFTA air cargo corridor with Uganda Airlines to facilitate the export of Nigerian goods to East and Southern Africa. The corridor, he said, is designed to ensure that Nigerian exports reach buyers faster and more cost-effective manner.

He also disclosed that Nigeria, as co-champion of the AfCFTA Protocol on Digital Trade, has partnered with Egypt, Ghana, Kenya, Rwanda and South Africa to pilot innovative solutions aimed at enabling seamless cross-border digital trade and mobility of services.