FG SIGNS HOSTING AGREEMENT AS LAGOS SET TO HOST INTRA-AFRICAN TRADE FAIR 2027
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By Aishat Momoh. O.
The Federal Government of Nigeria has signed the hosting agreement for the fifth Intra-African Trade Fair (IATF) 2027, with Lagos selected as the official host city for the continental event aimed at boosting trade and investment across Africa.
The agreement was signed on Tuesday in Lagos in partnership with the African Export-Import Bank (Afreximbank), the African Union Commission and the African Continental Free Trade Area Secretariat.
The ceremony also marked Nigeria’s formal takeover of the hosting baton from Algeria, which hosted the fourth edition of the trade fair that generated $49.94bn in trade and investment deals.
Scheduled to hold from November 5 to 11, 2027, the event is targeting $50bn in trade and investment deals, with an expected 100,000 visitors, 2,500 exhibitors and participation from more than 100 countries.
The fair will be held under the theme “Global Africa Repositioned – From Market Access to Market” and will feature several programmes, including trade exhibitions, an AfCFTA-focused trade and investment forum, Global Africa Day to strengthen ties with the African diaspora, and business-to-business and business-to-government networking platforms.
Other highlights of the event include the Creative Africa Nexus showcasing Africa’s creative economy, the Sub-Sovereign Governments Network aimed at integrating regional and local governments, the Africa Automotive Show, the AU Youth Start-up Pavilion, and the Africa Research and Innovation Hub for academics and researchers.
Speaking at the event, the Chairperson of the IATF2027 Advisory Council and former Nigerian president, Olusegun Obasanjo, described the signing of the hosting agreement as a milestone for Nigeria and the continent.
“The signing of this hosting agreement marks a significant milestone for Nigeria and for the continent. Bringing IATF2027 to Lagos is historically significant, as this city hosted the Lagos Plan of Action which championed Africa’s industrialisation and economic self-sufficiency,” he said.
Obasanjo expressed confidence that the 2027 edition would surpass previous editions in scope and impact, advancing the vision of a unified African market under the African Continental Free Trade Area (AfCFTA).
Also speaking, President and Chairman of the Board of Directors of Afreximbank, George Elombi, commended Nigeria for accepting to host the event and for its leadership in promoting intra-African trade.
“When we proclaimed Nigeria as the next host of the Intra-African Trade Fair, we all knew that an elephant had been sighted, and a very mighty one at that. Nigeria’s vibrant entrepreneurial spirit gives us confidence that IATF 2027 in Lagos will strengthen trade and investment across the continent,” he said.
Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole, said hosting the event presents an opportunity to shape the future of African trade integration.
“As we prepare to host Africa’s largest marketplace in Lagos in 2027, we have an opportunity not only to reflect on our reality but to design the future of African trade integration and economic transformation,” she said.
She added that the trade fair would play a crucial role in accelerating intra-African trade and aligning markets, industries and talent across the continent.
Director of Private Sector Engagement and Communications at the AfCFTA Secretariat, Cynthia E. Gnassingbé-Essonam, noted that the fair has become Africa’s premier marketplace for trade and investment.
Similarly, the African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Belobe, said the event would help reposition Africa in the global trade landscape.
Since its launch in 2018, the Intra-African Trade Fair has generated over $167bn in trade and investment deals and attracted more than 180,000 visitors from 132 countries across its four previous editions.
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