Nigeria Selected To Host IATF2027 With 50 Billion Dollar Trade Target

Nigeria has signed the hosting agreement for the fifth Intra-African Trade Fair (IATF2027), officially taking over from Algeria, which hosted the fourth edition that generated 49.94 billion dollars in trade and investment deals.

The signing ceremony was held in Lagos, the designated host city, in partnership with the African Export-Import Bank, the African Union Commission and the African Continental Free Trade Area Secretariat.

Scheduled for November 5 to 11, 2027, the IATF2027 aims to secure 50 billion dollars in trade and investment deals, attract about 100,000 visitors, host 2,500 exhibitors and welcome participants from more than 100 countries.

The event will be held under the theme “Global Africa Repositioned, From Market Access to Market” and will feature various programmes including trade exhibitions, AfCFTA-focused forums, Global Africa Day, business-to-business and business-to-government meetings, and the Creative Africa Nexus platform.

Other side events will include the Sub-Sovereign Governments Network, country and sector showcases, the Africa Automotive Show, the AU Youth Start-up Pavilion and the Africa Research and Innovation Hub.

Since its launch in 2018, the Intra-African Trade Fair has generated a cumulative 167 billion dollars in trade and investment deals and attracted more than 180,000 visitors from 132 countries, establishing itself as Africa’s leading marketplace for trade and investment.

Delivering opening remarks, Mr Olusegun Obasanjo, Chairperson of the IATF2027 Advisory Council and former President of Nigeria, highlighted the fair’s role in advancing Africa’s economic independence.

He noted that hosting the fair in Lagos was historically significant because the city had previously hosted the Lagos Plan of Action, which championed Africa’s industrialisation and economic self-sufficiency.

Mr Obasanjo expressed confidence that IATF2027 would surpass previous editions in both scope and impact as Africa worked towards building a unified marketplace under the AfCFTA.

Dr George Elombi, President and Chairman of the African Export-Import Bank, commended Nigeria’s leadership and said the country’s strong entrepreneurial environment would contribute to a successful event that strengthened trade and investment across the continent.

He explained that the trade fair aimed to support the development of a strong pan-African single market and expand intra-African trade by encouraging collaboration among African businesses and governments.

Dr Elombi emphasised that the platform would help build value chains, create jobs and generate prosperity across the continent.

Dr Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, highlighted the country’s increasing role in intra-African trade while acknowledging ongoing challenges in the global trading system.

He said Africa must remain committed to mutually beneficial and rules-based trade while using opportunities under the AfCFTA to shape the future of the continent’s economic integration.

Dr Oduwole added that IATF2027 would be a significant milestone in accelerating intra-African trade and investment.

Madam Cynthia Gnassingbé-Essonam, Director of Private Sector Engagement at the AfCFTA Secretariat, said the event represented an important step in advancing the objectives of the continental free trade agreement.

She noted that the success of the AfCFTA would depend not only on agreements and policies but also on practical platforms that enable African businesses to trade with each other.

Madam Gnassingbé-Essonam said the Intra-African Trade Fair had become a key platform bringing together businesses, investors and policymakers from across Africa and the diaspora.

Madam Francisca Tatchoup Belobe, African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, called for stronger alignment of industrial policies and trade facilitation measures across the continent.

She said the launch of the Intra-African Trade Fair in 2018 was an important initiative aimed at strengthening connectivity and increasing trade among African countries.

Madam Belobe expressed hope that the fifth edition of the fair would further promote investment, industrialisation and trade, helping Africa strengthen its position in the global trading system.