Nigeria Aims to Surpass $48.3 Billion in Trade Deals at Intra-African Trade Fair 2027
Nigeria is preparing to host the fifth edition of the Intra-African Trade Fair (IATF) in Lagos from November 5 to 11, 2027, with an ambitious goal to surpass the $48.3 billion in trade and investment deals recorded at the last fair in Algeria. President Bola Ahmed Tinubu disclosed this after Nigeria formally signed the hosting agreement, highlighting the country’s readiness to lead a continental economic showcase.
Represented by the Minister of Industry, Trade and Investment, Jumoke Oduwole, President Tinubu emphasized Nigeria’s determination not just to match, but to exceed previous trade volumes. “We fully intend not only to exceed the levels of transactions recorded at previous editions of the IATF, but beyond transactions, we envisage IATF 2027 as a marketplace that will integrate ideas, relationships, capital, and skills,” Tinubu said.
Since its inception, the IATF has become a pivotal platform for boosting Africa’s trade, generating more than $167 billion in deals across four editions. Algeria, host of the fourth fair, alone achieved $48.3 billion in transactions. Tinubu stressed that the Lagos edition aims to build on this legacy while promoting continental economic integration and unlocking Africa’s full economic potential.
Former Nigerian President and IATF 2027 Advisory Council Chairman, Olusegun Obasanjo, highlighted the fair’s strategic role in fostering collaboration between African governments and businesses. He urged stakeholders to leverage the platform to strengthen cooperation and achieve developmental aspirations, calling IATF “one of the instruments we must use to achieve the desirable objective.”
Supporting this optimism, George Elombi, President of the African Export-Import Bank, projected that Lagos could exceed $50 billion in trade deals. He noted that beyond networking and exhibitions, the real impact of IATF lies in value addition across African industries, job creation, and the empowerment of local businesses. “It is now our duty to convert the $50 billion in deals into opportunities and executable transactions,” Elombi said.
source: dailytrust