IATF2027: Africans Return to Lagos 50 Years After

  Africa’s big five economies have continued to host the Intra-African Trade Fair (IATF) in rotation. With Egypt, South Africa, Algeria, and now Nigeria, the circle needs one more nation to make the privileged class. With the signing of the hosting agreement between Nigeria and the IATF promoters a few weeks ago, Lagos2027 has arrived in Africa’s biggest economic city centre, as the continent returns to Lagos 50 years after FESTAC77, this time for economic integration. Nik Ogbulie writes

T

he historic signing ceremony for the hosting of IATF2027 in Lagos has calmed the anxiety of many Nigerians who were worried after four sessions of the event had moved from North Africa to South Africa, then back to North Africa, without Nigeria expressing any thought over the period. Indication after the signing expressed bold optimism that the silence over the last four years was not a sign of withdrawal from the common pursuit of the African economic integration dream but a seeming strategy to enable the country put its acts together in view of overwhelming domestic pressure which must be tamed for the country to deliver in such a way that explains its usually very big role in everything Africa. The country is known to have set performance records when elected to host African events. It did so during the Black and African Festival of Arts and Culture (FESTAC), for which the IATF27 venue was built in Lagos some 50 years ago. It has hosted the All-African Games, Commonwealth Games (COJA), and many other global conferences, and has emerged with records still unsurpassed by many host nations many years after.

The expressions on the faces of many eminent Nigerians after the signing further underscored that the country had waited for this event and would have been pleased if the hosting had come while their own son, Professor Benedict Oramah, held sway for ten eventful years. Nigerians at the event are inclined to liken the IATF to World Bank Meetings, to the extent that the venue has been specially laid out, with side attractions created to begin to paint the picture of an event’s eminence, which many Nigerians believe will add significantly to the continent’s economic opportunities. Before this signing, concerns have been raised about venues, given that Nigeria has never developed extensive open spaces for exhibitions. What would look like the biggest and best of such an infrastructure, which the military administration also developed, was privatized by the federal government and later leased to individuals and partly to the Lagos State government. However, the apex banking association, the Chartered Institute of Bankers of Nigeria (CIBN), provided relief to the Nigerian government by renovating the dilapidated National Theatre for a substantial sum. The theatre’s artistic marvel and the structure’s central location will raise the country’s profile. Over the next two years to the event, there is no doubt that a lot will change in a state that is richer than all the West African countries combined, excluding Nigeria. It is obvious that nagging issues like traffic gridlock, youth restiveness would be softened by the full ambiance of the coasts, lagoons, fine hotels, and great nightlife, which will offer participants the real chance to take a second look at Nigerian jollof and other spicy delicacies that have offered visitors the glue in Nigeria.

As many stakeholders of the new Africa Economic Integration gathered in Lagos, the very busy metropolis which does not sleep is already agog and busy finding more ways of making the event excellent and enduring to the extent that the African promoters may begin to mull a back-to-back hosting, especially when seen from the point of view deals and participations; the major determinants of the gains of the event as noted by the African community. With about 250 million people, a significant number of foreigners, and substantial foreign investment, what the organizers have been finding across the continent would have been considered ready in Nigeria. The proximity of transportation to every West African country makes IATF2027 an attractive event for the about 18 predominantly agricultural countries with a strong record of creative opportunities, which makes the ECOWAS nations the largest participants in the CANEX industry of the IATF project. Suffice it to say that the African coastline is replete with merchants whose commercial interests and reach extend only within the confines of African demand and have found IATF the most affordable outreach, offering them the opportunity to explore the much-talked-about regional and intra-African trade in its real application.

Take it or leave it: the Nigerian landscape has long been seen as home to all Ecowas countries, which is why a good number of fabrics seen in Nigeria are mix-grill, acceptable within the very rich Nigerian communities. This has become a channel for trade escalation, operating only within the confines of poor rural communities, which are limited by geography and commercial opportunities. The promoters should expect a very large amount of space for organization for this project. I see a situation where attendance will be twice the number of visitors in Durban, South Africa, in 2021, while deal sizes will be thrice those recorded in Algeria in 2025. This is a conservative estimate of the business size expected in Nigeria.

Everything looks fine for Lagos2027, but the severe traffic gridlock that will confront IATF head-on will be slightly higher than in Algiers2025. Visitors will enjoy robust tourism benefits if they are confined to Lagos. After all, Lagos is larger than Algiers and Durban. Lovers of the sea breeze will have nice experiences to take home, while night honchos will definitely enjoy the indaba. Lagos, no doubt, offers one the serenity of well-thought-out business plans and a sense of purpose.

“Agog” was the description, as the imposing architecture hosted about 2000 guests who were eagerly looking forward to the November 5-11, 2027, exposition, with IATF preparing to make its debut in West Africa after Côte d’Ivoire’s false hosting in 2021. In its usual iconic event presentation and management, Afreximbank set up the venue to look like a life ceremony, reminiscent of the four editions held in Cairo (2018), Durban (2021), Cairo again (2023), and Algiers (2025).

In his usual enthusiasm, the Chairman of the IATF Advisory Council, Chief Olusegun Obasanjo, did not hide his feelings about the world celebrating Africa’s integration efforts in an edifice he built some 50 years ago as the military Head of State of Nigeria. Fifty years later, the venue remains the only landmark venue for classic events in Nigeria, underscoring his foresight in development and material management. He noted that, “today’s signing implies a

Renewed continental spirit… When I was being conducted round, I remembered some 50 years ago….”

He noted that the venue has historical significance because it is where African Heads of State signed a remarkable Economic Development Charter, which still forms part of what Afreximbank and its partners are leveraging today to chart the continent’s future. He congratulated President Bola Tinubu, Funke Oduwole, Nigeria’s Trade and Investment Minister, and Lagos State Governor, Sanwo-Olu, along with all members of the Nigerian government, for getting this done.

Obasanjo sought a successful IATF27 and asked that the country must endeavor to orchestrate the kind of development Africa wants through a unified market towards the Africa we want. “I extend my profound optimism and with confidence that IATF27 will surpass all that has been done,” he noted. He claimed this is an assurance given by the Nigerian Minister of Trade and Investment to the Council.

Dr. George Elombi, President and Chairman of the Board of the bank, whose major outing since he mounted the saddle some five months ago has been the signing ceremony, went proverbial in an effort to express the huge expectations from the Nigerian Government using the ‘Elephant analogy.’

Elombi indicated that Africans are expected to remain strong on the agenda of the IATF, indicating that “we should aim high in 2027 because Nigeria is the most populous country in Africa and home to

African millionaires”, implying that through the IATF, we must build the Africa we want. He urged the African media to step up their reporting. He describes Nigeria as a nation with a very enterprising spirit. “We look at IATF27 as a very successful one. We are here today because we feel that President Tinubu will deliver the elephant”, Elombi said.

Elombi thanked Oduwole for ensuring the IATF would come to Lagos. He described the IATF as a mighty clan that wants to grow and eulogized Obasanjo’s zeal for sacrificing various stakes. He described Nigeria as a country of resolute capitalists. He pleaded with the Lagos State Government to involve all his 36 state counterparts to make the IATF27 a resounding success.

Nigeria’s Trade Minister further noted that, “as we prepare, Nigerians are proud. We want to work with all partners to create an enduring platform for global Africa.”

For the Lagos State Governor, Lagos27 is a win-win as the government will spend on the project, which is intended to open up new business grounds that will be of huge advantage for economies that have developed a propensity for sporadic growth like Lagos, touted to be richer than ten African economies put together.” I assure you that the CANEX taking place in November will be a masterpiece. IATF27 will not only be great. Next year at the IATF2027, Lagos will make Africans proud. It will be the biggest ever.

Top Afreximbank Executives and private-sector operators explained at the ceremony that the event will reflect the collective effort of Nigeria’s industry, in line with the broader expectations of many Africans. According to Dr. Mansur Ahmed, a Group executive of Dangote Industries and a prominent member of key IATF Committees, today’s signing ceremony makes me feel very fulfilled, in line with Nigeria’s efforts toward African integration. He was at a point as the President of the African Manufacturers Association.

Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade and Africa Export, described her feelings about the event as great. “I am excited”, Awani told this Magazine at the Wole Soyinka Center, Lagos. Government and private-sector operators were fully represented, with a large number of Afreximbank team members, the African Union, and international media in attendance.

As Nigeria signed the IATF 2027 hosting agreement in Lagos, Nigerian and African leaders who gathered at the Intra-African Trade Fair (IATF 2027) have stated that there is a need to intensify efforts towards achieving the continent’s development aspirations through the Intra-African Trade Fair (IATF). “According to them, African leaders must continue to work collectively to realize the kind of continent its people desire, stressing that initiatives such as the trade fair provide an important instrument for advancing economic cooperation, boosting intra-African trade, and fostering shared prosperity across the continent.

 Also speaking, President Bola Tinubu said Nigeria was positioning the Intra-African Trade Fair 2027 (IATF 2027) as a major catalyst for accelerating trade and investment across the continent under the African Continental Free Trade Area (AfCFTA) framework. Represented by the Minister of Trade and

Investment, Dr. Jumoke Oduwole, noted that preparations for the 2027 Trade Fair came as Nigeria marked more than five years since the commencement of AfCFTA implementation, adding that the country became the first AfCFTA state to complete its five-year implementation review in 2025, in line with obligations under the agreement.

According to him, the review has given Nigeria a clearer understanding of the reforms, investments, and institutional frameworks required to realize the opportunities offered by the continental trade pact fully.

He explained that AfCFTA’s scope is broad, covering trade in goods and services, investment, intellectual property rights, competition policy, and digital trade, while also prioritizing inclusion for women and youth to ensure that no group is left behind in the emerging continental market. He pointed out that the work ahead for Nigeria and other AfCFTA state parties is both extensive and critical to the continent’s survival and prosperity. He expressed confidence that hosting the trade fair in Lagos will mark a defining moment in accelerating intra-African trade and investment.

He said Nigeria aims not only to surpass the transaction levels recorded at previous editions of the trade fair but also to transform the event into a marketplace that integrates ideas, partnerships, capital, and skills to tackle barriers hindering the full realization of a single African market.

Highlighting some of Nigeria’s initiatives to strengthen continental trade, he recalled that in May 2025, the country launched a dedicated AfCFTA air cargo corridor with Uganda Airlines to facilitate the export of Nigerian goods to East and Southern Africa. The corridor, he said, is designed to ensure that Nigerian exports reach buyers faster and at a lower cost. He also disclosed that Nigeria, as a co-champion of the AfCFTA Protocol on Digital Trade, has partnered with Egypt, Ghana, Kenya, Rwanda, and South Africa to pilot innovative solutions to enable seamless cross-border digital trade and the mobility of services.

There are strong indications that IATF’s core activities and services, such as PAPPS, CANEX, and CARICOM, will benefit from the Lagos experience, given the estimated numbers expected to leverage the new financial instruments, alliances, and cross-border creative developments. For most corporate chieftains in Lagos, the feeling is like Business is really coming home. For many African investors, Nigeria remains like home. Winning the bid in Algiers last year showed Africans how Nigerians prize the event, which explains why IATF2027 feels like a Nigerian creation.

Ogbulie, a financial journalist and publisher of MONEYREPORT Magazine, was a member of the COTONOU AGREEMENT media protocol for the EU-ACP Trade Agreement. He lives in Lagos.