Business

Nigeria gears up to host Intra-African Trade Fair 2027

While Nigeria was taking over the baton from Algeria which hosted the highly successful fourth edition that recorded US$49.94 billion in trade and investment deals, the 2027, IATF2027 is targeting over US$50 billion in trade and investment deals, 100,000 visitors, 2,500 exhibitors, and participation from more than 100 countries.

Published

4 months ago

March 11, 2026

OCHEFA

274 Views

• Chief Olusegun Obasanjo, IATF Chairperson

The Nigerian government has declared its readiness to host the fifth Intra-African Trade Fair 2027 (IATF2027), scheduled to take place from November 5 – 11 in Lagos.

The host agreement signing ceremony was held in Lagos, the designated ‘host city.

Dr. Jumoke Oduwole, Federal Minister of Industry, Trade and Investment, signed on behalf of Nigeria, while Dr. George Elombi, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank)., Francisca Tatchoup Belobe, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, and Cynthia E. Gnassingbé-Essonam, Director of Private Sector Engagement and Communications at AfCFTA Secretariat, who represented Wamkele Mene, Secretary General, AfCFTA Secretariat, signed for the IATF.

The Fair will be held under the theme “Global Africa, Smart Trade- From Market Access to Market Power”featuring diverse programme notably the trade exhibitions

In his opening remarks, Chief Olusegun Obasanjo, Chairperson of the IATF2027 Advisory Council and Former President of the Federal Republic of Nigeria, underscored the strategic importance of the Fair in shaping Africa’s economic sovereignty.

He said : “The signing of this host agreement marks a momentous milestone for Nigeria and for the continent. Bringing IATF2027 to Lagos is historically significant, as this city hosted the Lagos Plan of Action adopted in 1980, which championed Africa’s industrialisation and economic self-sufficiency. We have to work hard to keep moving towards the Africa we want. I am confident that IATF2027 will surpass all previous editions in both scope and impact as we advance our shared goal for a unified African marketplace under the AfCFTA.

Commenting on Nigeria’s expanding footprint in intra-African commerce, highlighted Nigeria’s rising contribution

Photo: L-R: Kanayo Awani, Executive Vice President, Intra-African Trade & Export Development, Afreximbank; H.E.Francisca Tatchouop Belobe Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission; Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, Chief Olusegun Obasanjo, Chair, IATF, Dr. Jumoke Oduwole, Minister for Industry, Trade, and Investment; Babajide Sanwo-Olu, Governor of Lagos State; Cynthia Gnassingbe, Director Partnerships and Private Sector AFCFTA; Lois Ekra, Deputy Chair, IATF and Joseph Ifebunandu, Head, Banking Legal Services, Afreximbank during the Intra-African Trade Fair 2027 (IATF2027) Host signing ceremony in Lagos, Nigeria, held March 9

Up Next

JUST IN : Traders Resist Takeover of Lagos International Trade Fair Complex By LASG

Don't Miss

Bank of Industry and Sugar Council Unveil N10bn Fund for Greenfield Sugar Projects

Click to comment

Business

Naira Exchange Rates Thursday, 23 July

Published

18 hours ago

July 23, 2026

OCHEFA

35 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

1 day ago

July 22, 2026

OCHEFA

40 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.