By RUKAYAT MOISEMHE

Nigeria has secured the right to host the fifth edition of the biannual Intra-African Trade Fair (IATF) in 2027, with a pledge to accelerate and transform intra-African trade and investment.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, affirmed Nigeria’s pride at the development during the host agreement signing ceremony on Monday in Lagos.

The News Agency of Nigeria (NAN) reports that the IATF, under the African Continental Free Trade Area (AfCFTA), serves as a marketplace that brings together continental and global players to explore business and investment opportunities in Africa.

The fifth edition of the fair is scheduled to hold from Nov. 5 to Nov. 11, 2027, in Lagos.

In just four editions, the IATF has generated more than $167 billion in trade and investment deals.

Oduwole said in preparation for the IATF 2027, Nigeria had crossed the five-year mark since the commencement of AfCFTA implementation.

According to her, Nigeria is proud to be the first AfCFTA State Party to complete its five-year implementation review in 2025, an obligation under the agreement.

“We have a comprehensive understanding of the reforms, investments and institutional practices required to fully realise the promise of the AfCFTA,” she said.

The minister also said the country was focusing on women and youths to ensure the Nigerian market remains inclusive and that no group is left behind.

She said the work ahead of Nigeria and other AfCFTA State Parties was not only expansive but also critical for the continent’s survival and prosperity.

Oduwole assured that Nigeria’s hosting of IATF 2027 would mark a defining moment in accelerating and transforming intra-African trade and investment.

She said Nigeria intended not only to exceed the level of transactions recorded at previous editions of the trade fair but also deepen economic collaboration across the continent.

“Beyond transactions, we envision IATF 2027 as a marketplace that will aggregate ideas, relationships, capital and skills to boldly confront the challenges that impede the full realisation of our one global African market,” she said.

She added that in preparation for the event, Nigeria in May 2025 launched a dedicated AfCFTA air cargo export corridor with Uganda Airlines to ensure Nigerian goods reach buyers in East and Southern Africa quickly and cost-effectively.

Oduwole said as co-champion of the AfCFTA Protocol on Digital Trade, Nigeria had convened an innovative mechanism with Egypt, Ghana, Kenya, Rwanda and South Africa to pilot solutions for seamless cross-border trade and mobility of digital services.

“Another Nigeria-led initiative is the Customs Partnership for African Cooperation in Trade (C-PACT), spearheaded by the Nigeria Customs Service, to align customs policies with the ambitions of the AfCFTA.

“At IATF 2027, Nigeria’s creativity, commitment to continental economic integration, sophistication and resilience will be deployed for the full benefit of our shared ambition of a one African market,” she said.

The Chairman, IATF 2027 Advisory Council, Chief Olusegun Obasanjo, said bringing the fair to Lagos had historic relevance because the city hosted African leaders who signed the Lagos Plan of Action for the Economic Development of Africa from 1980 to 2000.

He said the plan sought to reduce reliance on raw material extraction, promote industrialisation, ensure greater equity in global trade relations and increase Africa’s self-sufficiency.

Obasanjo, a former President of Nigeria, lauded the Federal Government, the Lagos State Government, and the private sector for their collective efforts in securing the hosting rights.

He reaffirmed the commitment of the IATF 2027 Advisory Council to collaborate with all stakeholders to ensure a successful fifth edition of the Intra-African Trade Fair in Lagos.

“It is imperative that through the IATF, we elevate our standards and achievements as we advance toward realising our developmental aspirations,” he said.

The President, African Export-Import Bank, Dr George Elombi, described Nigeria as a giant nation with a vibrant spirit and a dedicated minister focused on national economic development.

Elombi projected that the 2027 edition would attract more than 100,000 visitors.

He said intra-African trade was helping to create a strong pan-African single market.

“Our collective duty is to use this platform to grow trade and investment across the continent and boost intra-African trade.

“The real opportunities lie in expanding value addition to Africa’s natural resources, meeting our basic needs from within the continent, building domestic and regional value chains, creating jobs, improving welfare for our people and increasing government revenues,” he said. (NAN)

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