Stakeholders Rally Behind Intra-African Trade to Drive Economic Growth and Industrialisation
Nigeria is intensifying efforts to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) to unlock business opportunities and deepen economic integration across the continent. This was the central message at the Nigeria Road to Intra-African Trade Fair (IATF) 2025, held in Lagos, which brought together policymakers, trade experts, and business leaders. The event is part of a series of roadshows across major African cities ahead of the fourth IATF, scheduled for September in Algiers, Algeria.
The Nigerian Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlighted progress made under the AfCFTA, noting a 13% increase in intra-African trade exports. She emphasized Nigeria’s active role in exporting ceramics, garments, pharmaceuticals, and agricultural products. Dr. Oduwole also stressed the growing importance of the creative economy, pointing to initiatives like CANEX by Afreximbank that demonstrate the economic potential of African culture.
NEPC CEO Nonye Ayeni underlined the IATF’s value as a hub for partnerships, market access, and trade information exchange. She called for structured and competitive value chains to support inclusive growth across Africa. According to Ayeni, the AfCFTA represents the world’s largest single market, connecting 1.3 billion people across 54 African nations and offering vast economic potential.
Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, shared data on the IATF’s growing impact. Over three editions, the event has facilitated over $100 billion in trade and investment deals, attracting more than 70,000 participants and 4,500+ exhibitors from 130 countries. She praised Nigeria’s leadership, noting that Nigerian businesses secured over $11 billion in deals at IATF2023, the highest of any country.
With its emphasis on connecting African producers and driving demand through the AfCFTA framework, the IATF is positioned as Africa’s key trade engine. The 2023 edition in Cairo alone drew nearly 2,000 exhibitors from 65 countries and generated $43.7 billion in trade deals. Stakeholders agree that strengthening intra-African trade through platforms like IATF is vital for the continent’s industrialisation, job creation, and sustainable economic growth.
Source: Leadership