Former President Olusegun Obasanjo has commended Nigeria for securing the hosting rights for the fifth edition of the Intra-African Trade Fair 2027, describing the development as a major milestone for the country and the African continent.
Obasanjo, gave the commendation on Monday, at the Wole Soyinka Centre for Arts and Culture, at the signing of the host country agreement for the event in Lagos.
The fair will hold from Nov. 5 to Nov. 11, 2027.
The initiative sought to reduce the export of raw materials, promote global equity in trade relations and increase Africa’s self-sufficiency and self-reliance
The former president, expressing optimism, stressed that the event would bring together African governments, businesses and investors to promote trade, investment and economic cooperation across the continent.
Obasanjo noted that hosting the fair in Lagos presented a historic significance because the city had been hosting landmark economic agreements aimed at strengthening Africa’s development.
“Bringing IATF 2027 to Lagos has historic relevance because this is where African leaders signed the Lagos Plan of Action for the economic development of Africa.
“The initiative will geometrically reduce the export of raw materials, promote global equity in trade relations and increase Africa’s self-sufficiency and self-reliance,” Obasanjo said.
He congratulated President Bola Tinubu, and Gov. Babajide Sanwo-Olu for their roles in securing Nigeria’s successful bid to host the trade fair.
Obasanjo further commended the collective efforts of the public and private sectors in ensuring that Nigeria emerged as host of the continental event.
“On behalf of the advisory council, I convey profound congratulations to President Bola Tinubu, the Honourable Minister of Industry, Trade and Investment, and the Governor of Lagos State.
“Their unwavering dedication and collective efforts of the Nigerian government and private sector were instrumental in securing Nigeria’s successful bid to host the fifth edition of the Intra-African Trade Fair.” he said.
The former president, who chairs the advisory council for the event, reaffirmed the council’s commitment to working with partners and the host country to ensure the successful oganisation of the fair.
According to him, the fair will serve as a platform to elevate Africa’s trade standards and support the continent’s economic transformation.
“It is imperative that through the IATF , we endeavour to elevate our standards and achievements as we advance our development aspirations.” he said.
Obasanjo said hat the initiative aligned with the vision of African Union and its long-term development blueprint, Agenda 2063, which aimed to foster continental integration and create a unified African market.
He expressed optimism that the 2027 edition of the trade fair would surpass previous editions in scope and impact.
“I am confident that IATF 2027 will surpass all previous editions in both scale and impact.
“It will be a continental event of global significance and an important instrument for achieving the Africa we want,” Obasanjo said.
The former president also stressed the importance of thorough planning to ensure the success of the event.
“We must work hard and plan well to keep moving toward the Africa we want.
“The Intra-African Trade Fair is one of the key instruments for achieving our continental development objectives.” he added.
