Nigeria Signs Hosting Rights for 2027 Intra-African Trade Fair, Targets $50bn Deals

Nigeria on Monday formally signed the hosting rights agreement for the 2027 edition of the Intra‑African Trade Fair (IATF), with the African Export‑Import Bank (Afreximbank) expressing confidence that the event could generate transactions exceeding $50 billion when it holds in Lagos in November 2027.

Speaking at the official signing ceremony in Lagos, President of Afreximbank, George Elombi, said the fifth edition of the continental trade fair is expected to surpass the deal value recorded at previous editions and further deepen trade relations across Africa.

He noted that the fair is projected to exceed the $50 billion worth of transactions recorded in earlier editions while creating new partnerships and investment opportunities for businesses across the continent.

Elombi explained that the Intra-African Trade Fair was conceived as a platform to place Africa’s economic transformation in the hands of Africans by promoting trade within the continent and connecting businesses, investors and governments.

According to him, while the event will attract global attention to Lagos, the core objective is to ensure that trade discussions and investment commitments translate into real transactions capable of expanding value addition, creating jobs and boosting revenues for African economies.

He urged Nigeria to maximise the opportunity by mobilising participation from across the country, particularly from major commercial hubs such as Alaba in Lagos, Kano in the North, and Aba, Onitsha and Nnewi in the South-East.

“Bringing together producers, traders and entrepreneurs from across Nigeria’s 36 states will be key to ensuring that the 2027 trade fair becomes a landmark event for the country and the continent,” he said.

Former Nigerian President and Chairman of the IATF Advisory Council, Olusegun Obasanjo, said Nigeria’s hosting of the 2027 edition represents a significant milestone in advancing economic cooperation and trade integration in Africa.

Obasanjo stated that the event, scheduled to hold from November 5 to November 11, 2027, would 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 host city, recalling that it was the venue where African leaders adopted the Lagos Plan of Action, a landmark framework aimed at reducing Africa’s reliance on raw material exports and promoting industrialisation and self-reliance.

According to him, 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 economy.

Obasanjo further reaffirmed the commitment of the IATF 2027 Advisory Council to work with the Nigerian government and other partners to deliver a successful event that would surpass previous editions in scale and impact.

Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole, also speaking at the signing noted that previous editions of the trade fair had generated over $167 billion in trade and investment deals, with the fourth edition in Algeria alone recording $48.3 billion.

She reaffirmed Nigeria’s commitment to advancing the objectives of the AfCFTA, citing the country’s five-year implementation review completed in 2025, the launch of the AfCFTA Air Cargo Corridor to support exports, and the pilot of digital trade solutions across the continent.

She also highlighted the Customs Partnership for African Cooperation and Trade as a model for harmonising customs procedures and strengthening trust between governments and the private sector.

She also underscored the role of Nigeria’s creative economy in driving continental growth, noting that the sector contributed about $25 billion to the country’s gross domestic product in 2025 and employs millions of Nigerians.According to her, the sector has the potential to grow to $100 billion and generate about two million jobs by 2030.

Oduwole also pointed to upcoming initiatives such as CANEX Weekend 2026 and the celebration of the golden jubilee of FESTAC ’77 as opportunities to link culture, trade and investment across the continent.

She added that the 2027 Intra-African Trade Fair would serve as a defining moment for Africa to strengthen intra-continental trade, deepen partnerships and drive sustainable economic growth.