Governor Babajide Sanwo-Olu has hailed the nomination of Lagos as the host city in Nigeria for the 2027 Intra-African Trade Fair, according to a statement on Monday.

The statement said the African Export-Import Bank, the African Union, and the African Continental Free Trade Area Secretariat announced the nomination at the ongoing IATF 2025.

It added that the nomination marks a historic moment for Nigeria and the West African sub-region.

IATF is the continent’s premier trade and investment event, held every two years to promote intra-African trade and accelerate the implementation of the AfCFTA.

Responding to the announcement in Algiers on Friday, Mr Sanwo-Olu said the choice underscores Nigeria’s pivotal role in Africa’s economic integration and Lagos’ status as a major commercial and financial hub.

“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.

“We are striving towards making Lagos a global financial hub; this will definitely boost our efforts.

“We have just successfully hosted GITEX, the global tech expo, and in a few days, we will be hosting the spectacular E1 electric boat race, the first in Africa, which will put us in the company of leading cities, such as Monaco, Jeddah, and others. We keep making history. It is the Spirit of Lagos at work,” the governor said.

Mr Sanwo-Olu described the nomination as a vivid acknowledgment of the state’s commitment to President Bola Tinubu’s Renewed Hope Agenda, which has had a positive impact on Nigeria’s economy.

“It is a lot of work. I assure all would-be participants that we will have a great outing here in Africa’s most populous city, the continent’s second-largest city economy. Lagos is, indeed, proud of this honour. On behalf of the government and the great people of Lagos, I thank the organisers for bestowing this honour on us,” he said.

The Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose, said hosting the biannual event is a strategic milestone for the state, Nigeria, and West Africa in boosting continental trade integration.

Ms Ambrose said the fair is expected to attract over 1,600 exhibitors, 35,000 visitors, and generate billions of dollars in trade and investment deals, which aligns with the state’s development plan.

“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. It is particularly in line with the Lagos State Development Plan 2052, being implemented Mr Governor, Babajide Sanwo-Olu’s administration. We are ready to welcome Africa and the world to our vibrant city.

“With a population of over 23 million, strategic coastal access, and a diverse, entrepreneurial economy, Lagos offers the ideal setting for trade, dialogue, and business partnerships that will shape the future of Africa. The fair is expected to attract over 1,600 exhibitors, 35,000 visitors, and generate billions of dollars in trade and investment deals,” she said.

She listed key highlights of Lagos’ nomination, including its strategic economic positioning.

She said Nigeria is Africa’s largest economy and most populous nation, with Lagos as its economic nerve center; gateway to West Africa – the city offers unmatched access to West African markets.

She added that, with a rapidly modernising infrastructure and international connectivity, the commitment to AfCFTA, combined with hosting IATF 2027, will accelerate Nigeria’s efforts in deepening intra-African trade and position local industries for continental competitiveness.

Ms Ambrose further stated that 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 lasting legacy beyond 2027.

“The Lagos state government, in partnership with the Federal Government of Nigeria, Afreximbank, the African Union, and the AfCFTA Secretariat, will commence preparations to deliver a world-class trade fair, with infrastructure development, logistics, security, and hospitality among top priorities,” she said.

According to her, as Africa continues to build toward an integrated, borderless trade environment, IATF 2027 in Lagos will serve as a defining platform to unlock new markets, strengthen business ties, and drive sustainable growth across the continent.

Ambrose is leading the first delegation of 20 SMEs, out of 253 trained under the Lagos State Export Readiness Programme, approved by Mr Sanwo-Olu, to the 2025 IATF in Algiers.

She also delivered the keynote opening address at the SME Pavilion for Africa while participating in the Nigeria Pavilion at the event, which kicked off on Saturday.

(NAN)