Onome Amuge
Lagos has been selected as the host city for the 2027 edition of the Intra-African Trade Fair (IATF), a decision that the state governor, Babajide Sanwo-Olu, says highlights both Nigeria’s economic weight and the state’s ambition to position itself as a regional financial hub.
The announcement, made in Algiers by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat, marks the first time the event will be staged in Nigeria. It also represents a milestone for West Africa, a sub-region that has often been overshadowed by North and Southern Africa in pan-continental trade initiatives.
The fair, which takes place every two years, is regarded as Africa’s premier platform for promoting intra-continental commerce and accelerating AfCFTA implementation. Organisers expect the 2027 edition to attract more than 1,600 exhibitors, 35,000 visitors, and billions of dollars in trade and investment deals.
Governor Sanwo-Olu welcomed the nomination, framing it as recognition of Nigeria’s leadership in Africa’s economic integration and Lagos’s stature as the continent’s second-largest city economy.
“We are very excited about the choice of Lagos for the 2027 edition of this important fair. But we are not surprised because it is a reflection of our resilience, our strength and our commitment to the Greater Lagos journey as illustrated by our T.H.E.M.E.S Plus Agenda,” he said in remarks following the announcement.
Sanwo-Olu linked the development to the city’s efforts to court global attention, pointing to recent events including GITEX, the international technology exposition, and the forthcoming E1 electric boat race (The first in Africa) which Lagos will host alongside Monaco and Jeddah.
“We keep making history. It is the Spirit of Lagos at work,” he said, adding that hosting IATF will reinforce Nigeria’s Renewed Hope economic agenda under President Bola Ahmed Tinubu.
Industry officials say the selection provides Nigeria with a rare opportunity to showcase its industrial potential at a time when the continent is pushing to reduce its dependence on extra-African trade. Although Africa accounts for 17 per cent of the world’s population, intra-African trade represents less than 15 per cent of total commerce on the continent, compared with nearly 60 per cent in Asia and more than 70 per cent in Europe.
“The opportunity is a strategic milestone for Nigeria and West Africa in boosting continental trade integration. Hosting the IATF 2027 positions us at the forefront of Africa’s trade future and reaffirms our commitment to fostering regional collaboration, investment and innovation,” said Folashade Kaosarat Bada Ambrose, Lagos’s commissioner for commerce, cooperatives, trade and investment. “
Ambrose highlighted Lagos’s population of more than 23 million, its coastal access and entrepreneurial economy as factors that make it a natural stage for the fair. She said the nomination dovetails with the state’s long-term development plan to 2052, which aims to expand infrastructure and transform Lagos into a globally competitive megacity.
Afreximbank officials cited three principal reasons for the choice of Lagos. These include: Nigeria’s status as Africa’s largest economy and most populous nation; the city’s role as a commercial nerve centre offering unmatched access to West African markets; and its alignment with the AfCFTA agenda to deepen intra-African trade and industrial competitiveness.
Analysts note that Lagos already handles around 70 per cent of Nigeria’s non-oil imports and a notable share of its exports, owing to its seaports, financial institutions and multinational corporate presence. The city also benefits from a growing services economy spanning finance, entertainment, and technology.
The Lagos state government said preparations would begin immediately in collaboration with the federal government, Afreximbank, the AU and the AfCFTA Secretariat. Priorities will include infrastructure, logistics, security and hospitality.
Ambrose insisted Lagos was ready. “The choice of Lagos reflects Africa’s confidence in Nigeria’s leadership and Lagos State’s readiness to deliver an impactful event that will leave a legacy beyond 2027,” she said.
Beyond the headline figures, Nigerians hope the fair will provide a boost for small and medium-sized enterprises (SMEs), which constitute the backbone of Nigeria’s economy. Ambrose noted that Lagos has trained 253 SMEs under its Export Readiness Programme (LASERP), and a first cohort of 20 companies is already participating in the 2023 IATF in Algiers.
“The IATF is not just about big corporations. It is about empowering our SMEs to scale, connect with regional markets, and embrace the opportunities of AfCFTA,” the commissioner said.
When applause travels faster than hunger