Nigeria to surpass $48.3bn trade deals at Intra-African fair – Tinubu

President Bola Ahmed Tinubu has said Nigeria is aiming to surpass the $48.3 billion in trade and investment deals recorded at the last edition of the Intra-African Trade Fair (IATF) held in Algeria. The President made the disclosure after Nigeria formally signed the agreement to host the fifth edition of the trade fair, scheduled to […]

President Bola Ahmed Tinubu has said Nigeria is aiming to surpass the $48.3 billion in trade and investment deals recorded at the last edition of the Intra-African Trade Fair (IATF) held in Algeria.

The President made the disclosure after Nigeria formally signed the agreement to host the fifth edition of the trade fair, scheduled to take place in Lagos from November 5 to 11, 2027.

Tinubu, who was represented by the Minister of Industry, Trade and Investment, Jumoke Oduwole, expressed the country’s readiness to host the major continental trade event and said Nigeria intends to exceed the transaction value achieved at previous editions.

According to him, the fair has already delivered significant economic value to the continent since its inception.

“In just four editions, the Inter-African Trade Fair has generated more than $167 billion in trade and investment deals,” he said, adding, “Algeria, our gracious host of the fourth edition, recorded $48.3 billion in transactions alone.”

 

He added that Nigeria is determined to outperform that record when it hosts the event in 2027.

 

“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 to boldly confront the challenges that impede the full realization of our one global African market,” he said.

 

The President noted that the trade fair represents a key platform for promoting continental economic integration and unlocking Africa’s economic potential.

 

He called on development partners, investors and stakeholders across the continent to support the initiative and help showcase Africa’s innovation and economic opportunities.

 

Chairman of the IATF 2027 Advisory Council and former Nigerian President, Olusegun Obasanjo, emphasised the importance of the trade fair as a catalyst for Africa’s economic growth.

 

He urged African governments and businesses to take advantage of the platform to strengthen economic cooperation across the continent.

 

“It is imperative that through the IATF we endeavor to elevate our standards and achievements as we advance towards realizing our developmental aspirations,” Obasanjo said, adding, “IATF is one of the instruments we must use to achieve the desirable objective.”

 

 

 

He also commended the collaborative efforts between the Nigerian government and the private sector that led to Nigeria securing the hosting rights for the fifth edition of the trade fair.

 

President of the African Export-Import Bank, George Elombi, expressed confidence that the Lagos edition of the fair would generate even more business transactions.

 

According to him, the event could surpass $50 billion in trade and investment deals.

 

Elombi noted that the trade fair is a strategic platform for boosting intra-African trade, fostering partnerships, and creating jobs across the continent.

 

“The IATF places our transformation — Africa’s own transformation — in our own hands,” he said, adding, “It is now our duty to convert the $50 billion in deals into opportunities and executable transactions.”

 

He added that beyond the exhibitions and networking opportunities, the real benefits of the fair lie in its ability to drive value addition across Africa’s industries.