Nigeria is working towards the rapid implementation of the African continental trade area (AFCFTA) to unlock opportunities throughout the continent for companies in the country.
Minister of the Federal Ministry of Industry, Commerce and Investment, Excmo. Jumoke Oduwole said that intrafrican trade has been improving.
“Domestic trade exports grew by more than 13 percent from last year backed by new commercial corridors and the initial success of AFCFTA guideline.
Excmo Jumoke said in an opening speech delivered to the Nigerian IATF2025 Business Roadshow that brought together government officials, the commercial community, including companies and investors, and executives of the African Bank for Export Export (AFREXIMBANK). The event focused on promoting domestic trade under the subject: “Take advantage of regional and continental value chains: accelerate industrialization and global competitiveness through AFCFTA.”
The Nigeria IATF2025 Roadshow is one of the five in a series of five high-level events in key cities, including Nairobi, Accra, Johannesburg and Algiers before the fourth edition of the fourth intra-African Trade Fair (IATF) Biennale Opportunities. IATF is the main trade and investment event in Africa that serves as a crucial platform to promote economic growth, collaboration and innovation throughout the continent.
Going to the Forum, Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, said that the IATF offers an incomparable platform for the exchange of commercial information and investment and is a market of ideas, opportunities and associations.
“With frames such as AFCFTA and platforms such as IATF now we have the tools to close the commercial gap, boost intrafrican trade and greatly grow our economies in a sustainable and inclusive way. We need to build a structured, sustainable and competitive value that can be able to include growth both here in Nigeria and throughout the continent in Africa. We know that the promises of AFCFTA broader in the world of people in the world of Billion Billion.
On the basis of this, the Executive Vice President, the development of trade and domestic export in Afreximbank, Kanayo Awani, highlighted the tangible results that the platform has already delivered throughout the continent and in Nigeria. especially.
“In just three editions, IATF has achieved what once felt aspirational: more than $ 100 billion in commercial and investment agreements, more than 70,000 participants and more than 4,500 exhibitors from 130 countries. This is not a conference, it is the commercial engine of Africa, designed to connect our producers, unlock demand and the operator and the promise of the AFCFTA.
Nigeria has not only participated. Nigeria has led. Only in IATF2023, Nigerian companies generated more than $ 11 billion in signed agreements, the highest in any country. Nigeria always appears. Nigeria offers, ”added Mrs. Awani.
IATF is a platform to boost trade and investment in Africa. The last edition held at Cairo attracted almost 2,000 exhibitors from 65 countries and generated US $ 43.7 billion in commercial and investment agreements.
Some of the activities aligned for the IATF2025 of a week include a commercial exhibition of countries and companies; The Creative Africa Nexus (Canex) program with a dedicated exhibition and summit on fashion, music, cinema, arts and crafts, sports, literature, gastronomy and culinary arts; a four -day trade and investment forum with leading African and international speakers; and the automotive show of Africa for car manufacturers, assemblies, manufacturers of original equipment and component suppliers.
“As we talk about expanding and unlocking new commercial markets, we must recognize the creative economy as a serious commercial border. Platforms such as Canex, led by Affreximbank, are demonstrating that African culture is financing not only beautiful.” The Minister of the Federal Ministry of Industry, Commerce and Investment added in his speech.
Special days will also be held in IATF2025, dedicated to countries, as well as in public and private entities, to show opportunities for trade and investment and tourism and cultural attractions, as well as the global day of Africa to highlight commercial and cultural ties between Africa and its diaspora, with a summit, market and exhibition, cultural and gastronomic exhibition of the diaspora.
A company to company (B2B) and Government (B2G) is also planned for matches and business exchanges; the UA Youth Home program that shows innovative ideas and prototypes; the Africa Research and Innovation Center aimed at university students, academics and national researchers to exhibit their innovations and research projects; The commercial exhibition that offers large corporations and SMEs opportunities to show their goods and services, the Trade Forum and Investment, a four -day conference with sessions and training discussed by the opportunities and commercial barriers, the Africa Creative Nexus (Canex), an exhibition of creative talent of African and African of Africa, the African African water segment, the African African water African Africans. It exhibits its products and interacts with potential buyers, Virtual IATF, an interactive online platform that will continue after the live event, the day of the diaspora highlighting the commercial and cultural ties between Africa and its diaspora and the network of the governments of African subovreignes (AFSNET) to promote trade, investment, education and cultural exchanges at the local level. The IATF virtual platform is already live, connecting exhibitors and visitors throughout the year.
Organized by African Export-Import Bank (AFREXIMBANK), In Collaboration with the African Union Commission (AUC) and the African continental free trade area (AFCFTA) Secretariat, The Intra-African Trade Fair (IATF) is intended to provides a Unique Platform for Facilitating Trade Trade and Investment Investment Investment Exchange in Support of Increase Intra-African Trade and Investment, Specially in the Context of Implementing the African continental free trade aggregation (AFCFTA). IATF brings together continental and global players to exhibit and exhibit their goods and services and to explore commercial and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with interested parties and allows participants to discuss and identify solutions to the challenges faced by intra -African trade and investment. In addition to African participants, the trade fair is also open to companies and investors from non -African countries interested in doing business in Africa and supporting the transformation of the continent through the industrialization and export development.