• 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.

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.

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: Inside a sugar factory

The National Sugar Development Council (NSDC) and the Bank of Industry (BOI) have provided a N10 billion Sugar Project Acceleration Fund (SPAF) to support the development of greenfield sugar projects across the country and strengthen Nigeria’s sugar industry.

The greenfield projects beneficiary are Illaj Sugar, Brent Foods, Crystal Sugar, Legacy Sugar, Saro Sugar, Awaa, Ganic and Confluence Sugar.

In a statement the Executive Secretary and Chief Executive Officer of NSDC, Kamar Bakrin, said that the fund is designed to provide financing and project development support to viable greenfield projects in a bid to accelerate the emergence of a sustainable and competitive sugar industry.

Bakrin point out that access to capital alone does not guarantee sugar production, noting that many development finance institutions and investors already have significant funds available for agro-industrial projects.

““SPAF is NSDC’s structured pre-investment facility established to provide qualifying project promoters with the technical, financial and advisory support required to develop their projects to bankable standard.

It is not a grant programme but a facility designed to build a credible pipeline of investor-ready Nigerian sugar projects,” he added.

The Executive Director of Public Sector and Intervention Programmes at BOI, Hadiza Shuaib, said that the bank will serve as the fund manager for SPAF while NSDC will provide sector leadership and technical guidance.

“As Fund Manager, BOI will ensure that projects are properly structured, risks are effectively managed, and funds are deployed responsibly. We are also strong advocates for skills development, because financing alone is not sufficient to deliver sustainable outcomes,” she said.

The Nigeria Police Force, in collaboration with Beverage manufacturers, stormed a number of illegal sites in Onitsha, Anambra State, and its environs, and apprehended some persons for destroying returnable packaging materials, including glass bottles and plastic crates belonging to various beverage manufacturing companies.

The Director -General of Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, explained that the police, working with member companies, acted on credible intelligence and stormed the factories to crack down on illegal disposal, theft, and unauthorised recycling of the returnable packaging materials of the affected companies, notably returnable glass bottles and plastic crates.

Mr. Ajayi-Kadir noted that the association was alerted by its members that owners of these untoward factories were involved in destroying returnable packaging materials for reuse, thereby causing the businesses to lose millions of naira in investments.

He stated that the group had engaged relevant security and regulatory authorities through formal petitions and intelligence-sharing, seeking lawful intervention to curb the illegal practices, recover company assets, and dismantle unauthorised recycling operations.

According to him, member companies identified multiple illegal locations in the South-East where they crush our bottles and crates for resale as raw materials.

He added that investigations by the police had revealed that significant quantities were being diverted from legitimate channels into informal recycling networks.

He also disclosed that, in several instances, reusable bottles were deliberately broken and crates were intentionally shredded for sale as raw materials, undermining the beverage companies’ circular packaging model.

“The recent raid is the outcome of sustained engagements and intelligence-led investigations and represents a decisive step by authorities to protect legitimate business operations, uphold environmental standards, and deter further illegal activity”, he said.

He described the act as criminal and a serious economic sabotage, noting that these assets remain the property of beverage companies that have invested heavily in these sustainable packaging materials to protect the environment.

He warned those involved in the act to desist, as the Association will continue to collaborate with law enforcement agencies to ensure that offenders are held liable and made to face the wrath of the law.

He stressed further that, beyond the asset loss, the activities of these individuals pose significant risks to businesses, including supply chain disruptions, increased operational costs, environmental risks arising from unsafe recycling practices, and threats to public safety.

“These Returnable Packaging Materials (RPMs) are company-owned assets designed for multiple reuse cycles and form a critical part of their sustainability, cost-efficiency, and product quality systems. It’s a criminal activity to destroy them”, he added.

He urged the relevant government agencies to move against the illegal destruction and diversion of returnable packaging material outside the value chain and encouraged the public to remain vigilant and report any suspicious activity of this nature to the police or call the consumer care lines of the beverage companies.

Over the years, beverage companies have been contending with a sustained challenge involving illegal disposal, theft, and unauthorised recycling of their returnable packaging materials.