Stakeholders Champion Intra-African Trade To Boost Economic Growth

Industry stakeholders have said that Nigeria is working towards fast-tracking implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities across the continent for businesses in the country.

They stated this at the Nigeria Road To Intra-African Trade Fair (IATF) 2025 held in Lagos. The event focused on promoting intra-African trade under the theme: ‘Harnessing Regional and Continental Value Chains: Accelerating Africa’s Industrialisation and Global Competitiveness through AfCFTA.’

The Nigeria IATF2025 roadshow is one of the five in a series of five high-level events in key cities including Nairobi, Accra, Johannesburg, and Algiers ahead of the fourth edition of the biennial Intra-African Trade Fair (IATF) that will be held in Algiers, Algeria from September 4 to 10 September 2025 under the theme ‘Gateway to New Opportunities’.

IATF is Africa’s premier trade and investment event that serves as a crucial platform for fostering economic growth, collaboration, and innovation across the continent.

Speaking at the event, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole noted that intra-African trade has been improving, saying, “intra African trade exports grew by over 13 per cent from last year supported by new trade corridors and the initial success of AfCFTA’s guideline initiatives. Nigerian businesses are already key participants, exporting, ceramics, garments, pharmaceuticals and agro products across the continent.”

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The minister noted that, “as we talk about expanding and unlocking new trade markets, we must recognize the creative economy as a serious trade frontier. Platforms such as CANEX led by Afreximbank are proving that African culture is bankable not just beautiful.”

The executive director/CEO of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni noted that, the IATF offers an unparalleled platform for the exchange of trade and investment information and is a marketplace of ideas, opportunities, and partnerships.

“With frameworks like AFCFTA and platforms like IATF we now have the tools to bridge the trade gap, boost Intra African trade and tremendously grow our economies in a sustainable and inclusive way. We need to build structured, sustainable and competitive value chains that can power inclusive growth both here in Nigeria and across the continent in Africa. We know that AfCFTA promises to be the largest single market in the world, connecting 1.3 billion people across 54 countries in Africa,” Ayeni said.

Executive vice president, Intra-African Trade and Export Development at Afreximbank, Kanayo Awani highlighted the tangible results the platform has already delivered across the continent and in Nigeria especially.

According to her, in just three editions, IATF has achieved what once felt aspirational: over $100 billion in trade and investment deals, more than 70,000 participants, and 4,500+ exhibitors from across 130 countries.

“This is not a conference, it is Africa’s trade engine, designed to connect our producers, unlock demand, and operationalise the promise of the AfCFTA. And in every edition—whether in Cairo, Durban, or beyond, Nigeria has not just participated. Nigeria has led. At IATF2023 alone, Nigerian enterprises generated over $11 billion in signed deals, the highest of any country. Nigeria always shows up. Nigeria delivers,” she noted.

IATF is a platform for boosting trade and investment in Africa. The last edition held in Cairo attracted nearly 2,000 exhibitors from 65 countries and generated US$43.7 billion in trade and investment deals.