Obasanjo, Tebboune, others seek economic integration as IATF2025 opens in Algiers with $44bn trade deals target

The New Diplomat
Writer
Nigerian Foods: Collaboration Will Boost Global Recognition, Says Obasanjo

Ad

Controversy as BBC Chiefs Resign for Allegedly Doctoring Trump’s Comments

By Abiola Olawale The BBC, one of the world's most prominent public broadcasters, has been rocked by an editorial scandal leading to the resignations of its Director-General, Tim Davie, and its CEO of News, Deborah Turness. The New Diplomat reports that their resignation follows intense pressure over a leaked internal memo alleging the broadcaster's flagship…

Oil Prices Climb as Senate Passes Deal to Reopen Government

In early Asian trade on Monday, crude oil prices were climbing after the United States Senate passed a funding agreement that could end the federal government shutdown. At the time of writing, WTI had climbed to $60.20 while Brent was trading at $64.05, both up by roughly 0.7%. Senate negotiators had struck a deal ahead of a Sunday…

Regina Daniels Vs Ned Nwoko: The Fleeting Illusion of Life

By Fred Chukwuelobe Once upon a time dazzling Regina Daniels and wealthy Senator Ned Nwoko were love birds. They bestrode the world and were the ultimate love birds not withstanding the age difference between them. Some saw the relationship as “child abuse” as Daniels was still a teenager and Nwoko an elder. The two cared…

Ad

By Obinna Uballa

The 2025 edition of the Intra-African Trade Fair (IATF2025) opened on Friday in Algiers, Algeria, with calls for stronger economic ties and accelerated intra-African trade under the African Continental Free Trade Area (AfCFTA).

Speaking at the opening ceremony, Algerian President Abdelmadjid Tebboune urged African nations to deepen integration by increasing trade flows to drive growth, create jobs, and reduce vulnerability to global economic shocks.

He emphasised the need to bridge infrastructure gaps to support trade, highlighting Algeria’s ongoing regional projects such as the Trans-Sahara Road, Algeria Gas Pipeline, and optic fibre installations to strengthen connectivity, energy security, and digital networks.

The week-long event, hosted by Algeria in partnership with Afreximbank, the African Union Commission, and the AfCFTA Secretariat, brings together more than 2,000 exhibitors and thousands of buyers from across the world. Organisers project that trade and investment deals worth over US$44 billion will be concluded during the fair.

Former Nigerian President and Chair of the IATF2025 Advisory Council, Olusegun Obasanjo, said this year’s fair has attracted participation from 48 African countries, the largest since its inception in 2018.

“In previous editions, IATF has shown its power to connect buyers, sellers, investors, and innovators. It has become a driving force for trade expansion and investment flows,” Obasanjo said, citing the US$2.9 billion Julius Nyerere Hydropower Project as one of the fair’s landmark deals.

AfCFTA Secretary General, Wamkele Mene, urged African leaders to fast-track the implementation of AfCFTA, noting that intra-African trade rose by 12.4% in 2024 to $220.3 billion, according to Afreximbank’s African Trade Report 2025. He pointed to a gradual shift towards industrial diversification, with growing trade in machinery, motor vehicles, chemicals, and electronics.

African Union Deputy Chairperson, Amb. Selma Malika Haddadi, noted that intra-African trade accounts for only 15% of the continent’s total trade, despite its potential to drive industrialisation.

Afreximbank President, Prof. Benedict Oramah, described the fair as a platform for Africa’s “new struggle for economic independence,” enabling innovation, partnerships, and investment across sectors.

The fair’s programme includes Global Africa Diaspora Day, Algeria Investment Forum, Arise Industrialisation Day, Creative Africa Nexus (CANEX), and the Africa Automotive Show, among others.

Since its launch in 2018, the IATF has attracted over 70,000 participants from 130 countries, hosted 4,500 exhibitors, and facilitated trade and investment deals worth more than US$118 billion.

Ad

X whatsapp