Minister of Industry, Trade and Investment highlights Lagos as a hub for culture, commerce, and investment, with over 50,000 delegates expected.
By Joy Onu
Nigeria has formally begun preparations to host two major continental events, the Creative Africa Nexus (CANEX) Weekend 2026 and the Intra-African Trade Fair (IATF) 2027 following the inauguration of the IATF National Steering Committee by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR.
Dr. Oduwole described the inauguration as a significant national milestone, noting that the assignment places Nigeria at the centre of Africa’s trade, investment, and creative economy agenda over the next two years. “This is more than hosting events; it is a national assignment that places Nigeria at the centre of Africa’s economic and cultural development,” she said.
In a statement issued by Augustina Obilor-Duru, Head of Press and Public Relations at the Ministry, the Minister described the Intra-African Trade Fair as Africa’s largest trade and investment marketplace. She noted that since its inception, the fair has facilitated deals valued at over US$100 billion, with Nigeria’s hosting of the 2027 edition expected to attract more than 50,000 delegates and generate a deal pipeline exceeding US$50 billion.
Alongside the trade fair preparations, CANEX Weekend 2026 is expected to place Lagos firmly in the spotlight as a hub for Africa’s creative industries. The event will feature exhibitions, live performances, masterclasses, and digital marketplaces, designed to connect sectors such as fashion, film, music, art, and technology directly to trade and investment opportunities.
Building on this creative and cultural momentum, IATF 2027 will also coincide with the 50th anniversary of FESTAC ’77, returning a major continental gathering to the National Theatre, Iganmu. Dr. Oduwole said the convergence reflects Nigeria’s ability to blend cultural heritage with contemporary trade leadership and economic ambition.
Nigeria’s selection as host followed presidential approval, extensive stakeholder consultations, a comprehensive bidding process, and a multi-day due diligence exercise involving over 15 Ministries, Departments, and Agencies, conducted by Afreximbank and the African Union. The Minister said the outcome underscores strong continental confidence in Nigeria’s institutional capacity and ability to deliver large-scale events.
She commended the Lagos State Government, particularly Governor Babajide Sanwo-Olu, for the state’s readiness and sustained support, citing the National Theatre and other locations across Lagos as key venues for hosting events of this magnitude. The National Steering Committee, she added, will oversee delivery through dedicated working groups with nominated focal persons from relevant Ministries and Agencies.
Dr. Oduwole emphasized that the events are projected to create over 50,000 jobs, generate more than US$100 million in direct economic activity for Lagos, and unlock at least US$5 billion in trade and investment opportunities. She expressed confidence that CANEX 2026 and IATF 2027 will showcase Nigeria’s trade capacity, cultural influence, and ability to deliver high-profile continental projects seamlessly under the Renewed Hope Agenda.
