Nigeria Accelerates Implementation of African Continental Free Trade Area (AfCFTA) to Exploit Business Opportunities
Nigeria is working to accelerate the implementation of the African Continental Free Trade Area (AfCFTA) to tap into business opportunities on the continent.
Intra-African Trade on the Rise
According to Jumoke Oduwole, Minister of Industry, Trade, and Investment, intra-African trade is improving. "Intra-African trade exports have increased by over 13% compared to last year, driven by new trade corridors and the initial success of AfCFTA's guiding initiatives. Nigerian businesses are already key players in exporting ceramics, textiles, pharmaceuticals, and agro-products to the continent," said the Minister.
Creative Economy: A Frontier for Trade
Speaking at the Nigeria Business Roadshow for IATF2025, Oduwole emphasized the importance of recognizing the creative economy as a significant frontier for trade. "Platforms like Creative Africa Nexus (CANEX) led by Afreximbank demonstrate that African culture is not only beautiful but also bankable."
IATF2025: A Platform for Intra-African Trade and Investment
The event, attended by over 700 people, focused on promoting intra-African trade under the theme "Valorizing Regional and Continental Value Chains: Accelerating Industrialization and Global Competitiveness in Africa through AfCFTA."
The IATF2025 Roadshow in Nigeria is one of a series of five high-level events planned in major cities, including Nairobi, Accra, Johannesburg, and Algiers, ahead of the fourth biennial Intra-African Trade Fair (IATF) scheduled to take place in Algiers, Algeria, from September 4 to 10, 2025, under the theme "Gateway to New Opportunities." IATF is the premier event for trade and investment, serving as a critical platform for fostering economic growth, collaboration, and innovation on the continent.
Nigeria Leads the Way in Intra-African Trade
Addressing the forum, Nonye Ayeni, Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), stated that IATF presents an unprecedented platform for information exchange on trade and investment; it is the African market for ideas, opportunities, and partnerships.
Afreximbank's Commitment to Intra-African Trade
Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, highlighted the tangible results achieved by the trade fair on the continent, particularly in Nigeria. "After only three editions, IATF has achieved what was once an ambition: over $100 billion in trade and investment deals, over 70,000 participants, and over 4,500 exhibitors from 130 countries. This is not just a conference; it is the engine of trade in Africa, designed to connect producers, unlock demand, and operationalize the promise of AfCFTA."
IATF2025: A Platform for Trade and Investment
IATF2025 is expected to feature a range of activities, including:
- A country and enterprise exhibition showcasing products and services
- The CANEX program with a special exhibition and summit on fashion, music, film, arts, and crafts, sports, literature, gastronomy, and culinary arts
- A four-day trade and investment forum featuring prominent African and international speakers
- The Africa Automotive Show for car manufacturers, equipment suppliers, and spare parts providers
- Special days dedicated to countries and public and private structures to present trade and investment opportunities, tourist attractions, and cultural heritage
- A B2B and B2G platform for business exchanges and matchmaking
- The African Union's program for young entrepreneurs showcasing innovative ideas and prototypes
- The Africa Research and Innovation Hub @IATF targeting university students, academics, and national researchers to exhibit their innovations and projects
- A trade exhibition providing large enterprises and SMEs with windows to showcase their products and services
- The trade and investment forum, a four-day conference featuring sessions and workshops to discuss trade opportunities and obstacles
Participate in IATF2025
To participate in IATF2025, please visit www.intrafricantradefair.com.
