Nigeria Targets Over $48.3bn in Trade at IATF 2027

President Bola Ahmed Tinubu announced Nigeria's ambition to exceed $48.3 billion in trade and investment deals during the upcoming Intra-African Trade Fair (IATF), which is set to take place in Lagos from November 5-11, 2027. This disclosure was made during the formal signing of Nigeria's agreement to host the fifth edition of the fair.

Minister of Industry, Trade, and Investment, Jumoke Oduwole, expressed the country's readiness to host this significant continental trade event. The IATF has previously generated substantial economic value, with the last edition in Algeria yielding $48.3 billion in transactions.

Tinubu emphasized that Nigeria is determined to outperform this record, aiming for a marketplace that fosters strong relationships and addresses challenges in realizing Africa's global market potential. Former Nigerian President Olusegun Obasanjo highlighted the fair's importance as a catalyst for economic growth, urging African governments and businesses to leverage this platform for enhanced cooperation.

George Elombi of the African Export-Import Bank expressed confidence that the Lagos edition could generate over $50 billion in trade deals.