The Federal Government has signed the hosting agreement for the fifth Intra-African Trade Fair 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, the African Union Commission and the African Continental Free Trade Area Secretariat.
The event also marked Nigeria’s formal takeover of the hosting baton from Algeria, which hosted the fourth edition of the fair that generated $49.94bn in trade and investment deals.
Scheduled to take place from November 5 to 11, 2027, IATF2027 is targeting $50bn in trade and investment deals, 100,000 visitors, 2,500 exhibitors and participation from more than 100 countries.
The trade 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, business-to-business and business-to-government platforms, and the Creative Africa Nexus showcasing Africa’s creative economy.
Other highlights include the Sub-Sovereign Governments Network for regional and local government integration, country and private sector special days, 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 President of Nigeria, Chief Olusegun Obasanjo, in his opening remarks described the hosting agreement as a milestone for both Nigeria and the African 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. We have to work hard to keep moving towards the Africa we want. I am confident that IATF2027 will surpass all previous editions in both scope and impact as we advance our shared goal for a unified African marketplace under the AfCFTA,” he said.
President and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, commended Nigeria for its leadership in advancing intra-African trade and for accepting to host the 2027 edition of the fair.
“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 be a remarkable event that strengthens trade and investment across the continent.
“The trade fair is about building a strong pan-African single market and expanding intra-African trade beyond the levels we see today. Our collective duty is to use this platform to build value chains, create jobs and generate prosperity for our people. When Africans decide to work together, as they will at IATF 2027, the opportunities for transformation are limitless,” he said.
Speaking on Nigeria’s growing role in continental commerce, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said hosting the event presents an opportunity to shape the future of African trade integration.
“Today, as the international trading system faces profound challenges, we must remain resolute in our commitment to mutually beneficial, rules-based trade. 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.
“The work ahead of us under the AfCFTA is not only expansive, but it is also existential for our survival and prosperity. IATF 2027 will therefore be a defining moment in accelerating and transforming intra-African trade and investment. Together, we must align our markets, our industries and our talent to deliver the prosperous Africa we envision,” she said.
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.
“Today’s ceremony marks an important milestone in our collective efforts to advance the objectives of the African Continental Free Trade Area. The success of the AfCFTA will depend not only on rules and agreements, but on practical platforms that enable African businesses to trade with one another.
“The Intra-African Trade Fair has established itself as Africa’s premier marketplace for trade and investment, bringing together businesses, investors and policymakers from across the continent and the diaspora. Nigeria’s hosting of IATF 2027 is both timely and significant, and we are confident it will deliver an impactful trade fair that reflects the ambition of the AfCFTA and the aspirations of African businesses,” she said.
Also speaking, the African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Belobe, said the fair would help reposition Africa in the global trade landscape.
“When we launched the IATF in 2018, it was a bold experiment in connectivity. It was not only a commercial event, but rather a strategic tool to increase intra-African trade, which remains stubbornly low.
“As we prepare for the fifth edition of the IATF, we must ensure that it propels intra-African trade and helps Africa reposition itself in the global trade landscape. We should therefore aim very high in 2027, especially as the IATF takes place in Nigeria, the most populous African country and one of the continent’s largest economies.
“Let us make IATF 2027 a defining moment that ignites new momentum for Africa’s investment, industrialisation and trade,” she said.
Since its launch in 2018, the Intra-African Trade Fair has generated more than $167bn in trade and investment deals and attracted over 180,000 visitors from 132 countries across its four editions.