By Obinna Uballa
Economic experts and government officials have described Nigeria’s scheduled hosting of the 2027 Intra-Africa Trade Fair (IATF) as a transformative opportunity for the country’s economy, predicting that the event will hepl unlock new markets, attract foreign investments, and position Nigeria as a leading hub for continental commerce.
The announcement on Friday by the African Export-Import Bank (Afreximbank), the African Union, and the AfCFTA Secretariat during the IATF 2025 in Algiers marks the first time the biannual fair will hold in West Africa, signaling a major boost for Nigeria’s trade and investment ambitions.
Speaking on the sidelines of the Trade Fair, Federal Minister of Industry, Trade, and Investment, Jumoke Oduwole, said the hosting rights represent “a significant milestone” for the Tinubu administration’s non-oil export drive and economic diversification agenda.”
“It is significant for our non-oil export acceleration and market access across the country. This is a major intervention that will create opportunities for businesses and strengthen Nigeria’s position in intra-African trade,” Oduwole added..
Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, described the development as “a great milestone” that will create jobs and reduce poverty.
“We will have an opportunity to showcase over 1,000 agricultural products and 44 mineral resources from Nigeria. With over 2,000 companies and 30,000 visitors expected, this will open up Nigeria for investments in line with the Renewed Hope Agenda,” she said.
Managing Director of the Nigerian Export-Import Bank (NEXIM), Abubakar Bello, emphasized the strategic advantage of Nigeria’s location as a continental trade hub.
“We are at the centre of Africa, which enables us to connect West, Central, and East Africa. Hosting the fair reinforces our role in integrating trade across the continent,” he noted.
Governor Babajide Sanwo-Olu hailed the choice of Lagos as host city, describing it as proof of the state’s resilience and commitment to becoming a global financial hub.
“This honour reflects the Spirit of Lagos at work. We are committed to delivering a world-class event that aligns with our THEMES+ Agenda and President Tinubu’s Renewed Hope vision,” Sanwo-Olu said, according to a statement released on Monday by the spokesperson for the Lagos State Ministry of Commerce, Cooperatives, Trade, and Investment, Mr. Adewale Akodu.
