Lagos State Governor, Babajide Olusola Sanwo-Olu, led members of the State Executive Council to witness the signing ceremony of the hosting agreement for the Intra-African Trade Fair 2027 in Lagos on Monday.
Eko Hot News reports that the agreement was signed between the Federal Ministry of Industry, Trade and Investment, representing the Federal Government of Nigeria, the African Union, African Export-Import Bank (Afreximbank), and the African Continental Free Trade Area Secretariat.
The signing ceremony marked an important milestone in preparations for the hosting of the continental trade event. The fair is expected to attract businesses, investors, policymakers and entrepreneurs from across Africa.
Officials noted that the agreement carries historical importance for Lagos and the wider African region. It reflects decades of efforts aimed at strengthening economic cooperation among African nations.
The initiative draws inspiration from the vision outlined in the Lagos Plan of Action. The plan was adopted by African Heads of State to promote economic self-reliance and strengthen intra-African trade.
The African Continental Free Trade Area (AfCFTA) agreement is regarded as a major step toward achieving these goals. It aims to create a single market for goods and services across the African continent.
By hosting the 2027 trade fair, Lagos further strengthens its position as one of Africa’s leading commercial and financial centres. The event is expected to showcase Nigeria’s dynamic business environment and growing entrepreneurial ecosystem.
Government officials highlighted that Lagos has consistently served as a gateway for regional trade and investment in West Africa. Its strategic location and economic infrastructure make it an ideal destination for major international trade events.
The hosting of the Intra-Africa Trade Fair is also expected to encourage partnerships among African businesses. It will provide a platform for companies to explore new markets and expand their commercial networks.
Industry stakeholders believe the event will attract investors seeking opportunities across key sectors including manufacturing, technology, logistics and creative industries.
The presence of Governor Sanwo-Olu and members of the Lagos State Executive Council at the signing ceremony reflects the state government’s commitment to supporting initiatives that promote economic growth and regional cooperation.
Officials further explained that the trade fair would highlight Africa’s productive capacity while strengthening collaboration among governments and private sector leaders across the continent.
The Intra-Africa Trade Fair has become one of the continent’s largest trade and investment gatherings, providing a platform for businesses to display products, negotiate partnerships and explore new opportunities.
As preparations for the 2027 edition begin, stakeholders expressed optimism that Lagos will deliver a successful event that promotes African trade integration and strengthens the continent’s economic outlook.
