Nigeria has formally signed a hosting rights agreement with Afreximbank to host the 2027 edition of the Intra-African Trade Fair (IATF) in Lagos, a major continental event expected to generate more than $50 billion in trade and investment transactions.
The agreement was signed on Monday in Lagos during an official ceremony attended by government officials, business leaders and representatives of Afreximbank.
The 2027 trade fair will bring together businesses, investors, policymakers and entrepreneurs from across Africa and beyond to promote trade, partnerships and investment under the African Continental Free Trade Area (AfCFTA).
The event is scheduled to take place in Lagos from November 5 to November 11, 2027.
Speaking at the signing ceremony, President Bola Ahmed Tinubu, who was represented by the Minister of Industry, Trade and Investment, Jumoke Oduwole, said Nigeria’s hosting of the continental trade fair reflects the country’s commitment to expanding intra-African trade and strengthening economic cooperation across the continent.
According to him, previous editions of the Intra-African Trade Fair have already generated significant economic outcomes for Africa.
“Previous editions of the Intra-African Trade Fair have collectively generated more than $167 billion in trade and investment deals across the continent,” Tinubu said.
He pointed out that the fourth edition of the trade fair, held in Algeria, recorded transactions worth about $48.3 billion, demonstrating the increasing importance of the platform in promoting trade and investment across African economies.
The President expressed confidence that the 2027 edition in Lagos will surpass previous records and further deepen commercial relationships between African businesses.
“The Intra-African Trade Fair has become one of the most important platforms for connecting African businesses, investors and governments in order to unlock trade opportunities across the continent,” he said.
Tinubu noted that Nigeria has continued to implement several policies and initiatives designed to strengthen trade under the African Continental Free Trade Area.
He revealed that Nigeria recently completed its five-year review of AfCFTA implementation in 2025 and has introduced additional reforms to improve export capacity and remove barriers affecting trade across African markets.
Among the initiatives highlighted by the President was the AfCFTA Air Cargo Corridor, a logistics initiative designed to improve export transportation and reduce bottlenecks affecting the movement of goods across African borders.
The government has also begun piloting digital trade solutions aimed at improving cross-border commerce and simplifying trade documentation across the continent.
Tinubu also referenced the Customs Partnership for African Cooperation and Trade (CPAC), an initiative designed to harmonise customs processes, strengthen regulatory alignment and improve trust between governments and private sector actors involved in African trade.
According to him, these reforms are expected to support Nigeria’s role as a major trade hub when the 2027 Intra-African Trade Fair takes place in Lagos.
He further highlighted the growing importance of Nigeria’s creative economy, describing it as a major driver of economic growth and continental influence.
Tinubu said the creative sector contributed about $25 billion to Nigeria’s gross domestic product in 2025 and employs millions of people across the country.
He noted that the government is targeting significant expansion of the industry over the coming years.
“Our goal is to grow Nigeria’s creative economy to a $100 billion industry while creating at least two million jobs by 2030,” the President said.
According to him, events such as CANEX Weekend 2026 and the planned Golden Jubilee celebration of FESTAC ’77 will help strengthen the link between culture, trade and economic development across Africa.
The President also urged African countries to strengthen collaboration in order to maximise the opportunities created by the African Continental Free Trade Area.
He emphasised that the 2027 Intra-African Trade Fair will provide a major platform for deepening economic partnerships and expanding market opportunities 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 compared to previous editions.
He noted that the event is projected to surpass $50 billion in trade and investment transactions.
“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,” Elombi said.
He explained that the objective of the trade fair goes beyond hosting exhibitions and conferences, noting that the event is designed to convert business discussions and investment commitments into real economic transactions.
“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,” he said.
Elombi also encouraged Nigeria to mobilise broad participation from across the country to maximise the impact of the event.
He specifically urged organisers to ensure strong representation from Nigeria’s major commercial hubs.
“We encourage participation from key business centres such as Alaba in Lagos, Kano in northern Nigeria, as well as Aba, Onitsha and Nnewi in the South-East, because these hubs play a vital role in driving trade and entrepreneurship in the country,” he said.
According to him, bringing together producers, manufacturers, traders and entrepreneurs from all 36 states of Nigeria will help ensure that the event becomes one of the most impactful trade gatherings ever organised on the continent.
Elombi also confirmed that Afreximbank will continue to work closely with both the Nigerian federal government and the Lagos State government to ensure the successful organisation of the 2027 edition.
He described the event as an opportunity for Nigeria to showcase its industrial capacity, entrepreneurial talent and leadership role in Africa’s economic integration.
Olusegun Obasanjo, former President of Nigeria and Chairman of the IATF Advisory Council, said Nigeria’s hosting of the trade fair represents an important milestone in strengthening economic cooperation across Africa.
Obasanjo said the event will provide a major platform for businesses, governments and investors to deepen commercial relationships and unlock new opportunities for trade within the continent.
“The Intra-African Trade Fair provides a unique platform for African businesses and governments to strengthen partnerships and unlock new opportunities for intra-African trade,” he said.
He also highlighted the historical importance of Lagos as the host city for the event.
According to him, Lagos previously hosted African leaders when they adopted the Lagos Plan of Action for the Economic Development of Africa, a strategy designed to reduce the continent’s dependence on raw material exports while promoting industrialisation.
He explained that hosting the 2027 trade fair in Lagos reinforces Africa’s long-standing ambition to build stronger regional economic integration and a more resilient continental economy.
Obasanjo also reaffirmed the commitment of the IATF 2027 Advisory Council to work closely with Nigerian authorities and other partners to ensure that the event surpasses previous editions in scale and economic impact.
While expressing confidence in Nigeria’s ability to host the trade fair successfully, he advised organisers to develop strong contingency plans to guarantee smooth execution of the event.
“The trade fair remains a critical instrument for advancing Africa’s economic renaissance and achieving the broader objectives of continental integration,” Obasanjo said.
