By Adedapo Adesanya

Nigeria will position the Intra-African Trade Fair 2027 (IATF 2027) as a major catalyst for accelerating trade and investment across the continent under the African Continental Free Trade Area (AfCFTA) framework.

This was disclosed by the Minister of Trade and Investment, Mrs Jumoke Oduwole, while speaking at the IATF 2027 Hosting Signing Ceremony in Lagos on Monday.

Representing President Bola Tinubu at the landmark event, she noted that preparations for the 2027 Trade Fair came as Nigeria marked more than five years since the commencement of AfCFTA implementation, adding that the country became the first AfCFTA state to complete its five-year implementation review in 2025, in line with obligations under the agreement.

Setting some expected benchmarks for the event, Mrs Oduwole noted that the event would witness strong performances, with over 100,000 physical and virtual attendees projected to take part in the trade fair, and will top that of the 2025 edition.

The fourth edition of the fair (IATF 2025) was held in Algiers, Algeria, from September 4 to September 10, 2025, and recorded $48.3 billion in trade and investment deals.

“We’re expecting to host over 100,000 physical and virtual guests. We’re expecting to have over $50 billion worth of deals from IATF 2027.

“The IATF has made connections with the Caribbean and the diaspora, and we are positioning Nigeria to lead economically in this renaissance,” she stated.

Mrs Oduwole noted that in line with President Tinubu’s Renewed Hope Angle, the fair will provide an important instrument for advancing economic cooperation, boosting intra-African trade and fostering shared prosperity across the continent.

She described the trade fair as a major platform for advancing the objectives of the African Continental Free Trade Area (AfCFTA), which aims to create a unified African market.

The Minister added that the Federal Ministry of Industry, Trade and Investment (FMITI) is leading the coordination efforts for the event, working with agencies such as the Nigerian Export Promotion Council (NEPC) and other stakeholders to ensure successful delivery.

Also speaking at the event, Nigeria’s former president and Chairperson of the IATF Advisory Council, Mr Olusegun Obasanjo, said the hosting of the fifth edition of the Intra-African Trade Fair 2027 in Lagos represents a major milestone for the country and the continent’s drive toward deeper economic integration.

Mr Obasanjo noted that the agreement formally grants the country the right to stage the trade fair, which is scheduled to take place from November 5 to November 11, 2027, in Lagos.

“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 IATF 2027 will surpass all previous editions in both scope and impact as we advance our shared goal for a unified African marketplace under the AfCFTA,” he remarked.

Also speaking at the event, the President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Mr George Elombi, expressed confidence that hosting IATF 2027 in Lagos, Nigeria.

He noted that the trade fair has generated an average of $40 billion in deals across its previous four editions.

Mr Elombi said such success stories demonstrate the transformative power of the trade fair in creating partnerships, driving innovation, and improving Africa’s global economic image.

“Nigeria’s vibrant entrepreneurial spirit gives us confidence that IATF2027 in Lagos will be a remarkable event that strengthens trade and investment across the continent. The trade fair is about building a strong pan-African single market and expanding intra-African trade beyond the levels we see today,” he said.

As the host, Lagos State Governor, Mr Babajide Sanwo-Olu, said the event would be a defining time for Africa to take its rightful place in the comity of nations, assuring that Lagos State would put every necessary thing in place to ensure the event would be the best IATF to be hosted in Africa.

Business Post reports that while the fair will hold next year, Lagos will also play host to Afreximbank’s Creative Africa Nexus (CANEX), scheduled for November 5-8, 2026

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rallied by 1.48 per cent on Monday, March 9, spurred by six price gainers at the close of business.

The sextuplet was led by Nipco Plc, which added N28.00 to trade at N313.00 per unit versus the previous price of N285.00 per unit, FrieslandCampina Wamco Nigeria Plc appreciated by N8.65 to sell for N133.85 per share versus last Friday’s closing value of N125.20 per share, Central Securities Clearing System (CSCS) Plc increased by N2.43 to N83.78 per unit from N81.35 per unit, Afriland Properties Plc gained 75 Kobo to close at N19.50 per share compared with the previous N18.75 per share, UBN Property Plc jumped by 21 Kobo to close at N2.38 per unit compared with the preceding session’s N2.17 per unit, and Industrial and General Insurance (IGI) Plc rose 5 Kobo to sell at 52 Kobo per share versus 47 Kobo per share.

As a result, the market capitalisation added N37.22 billion to settle at N2.556 trillion versus the preceding session’s N2.519 trillion, and the NASD Unlisted Security Index (NSI) went up by 62.20 points to 4,273.12 points from 4,201.57 points.

Yesterday, the volume of securities decreased by 67.6 per cent to 1.1 million units from 3.4 million units, the value of securities depleted by 24.3 per cent to N47.3 million from N62.4 million, and the number of deals went down by 18.2 per cent to 36 deals from 44 deals.

The most traded stock by value on a year-to-date basis was CSCS Plc with 37.6 million units valued at N2.3 billion, trailed by Okitipupa Plc with 6.3 million units sold for N1.1 billion, and MRS Oil Plc with the sale of 3.4 million units for N506.8 million.

As for the most traded stock by volume on a year-to-date basis, it was Resourcery Plc with 1.05 billion units worth N408.7 million, followed by Geo-Fluids Plc with 123.1 million units traded for N481.6 million, and CSCS Plc with 37.6 million units transacted for N2.3 billion.

By Adedapo Adesanya

Oil prices fell in the later session of Monday after initially crossing the $100 per barrel mark as the escalating Iran war by the United States and Israel squeezed world energy supplies, boosted the Dollar, and dampened hopes of interest-rate cuts.

Earlier, Brent crude futures climbed to a high of $119.50 per barrel, ‌and the US ⁠West Texas Intermediate (WTI) to $117.48 a barrel. However, it dropped later after US President Donald Trump suggested that the US conflict with Iran could soon wind down.

Data gathered by Business Post showed that the price of the Brent crude grade dropped 5.4 per cent to $87.68 per barrel, and the US WTI lost 7.4 per cent to trade at $84.21 a barrel.

President Trump is expected to review a set ​of options to tame oil prices, reflecting White House worries that the surge in oil prices will hurt US businesses and consumers ahead of the November midterm elections, when the ruling Republicans are hoping to retain control of Congress.

Reuters reported that the US is discussing with counterparts from the Group of Seven major economies a possible joint release of crude oil ​from strategic reserves. It also reported they are weighing other options, including restricting US exports, intervening in oil futures markets, ​waiving some federal taxes and lifting requirements under a US law called the Jones Act that domestic fuel must move ⁠only on US-flagged ships.

The Trump administration officials are also exercising diplomatic pressure on Gulf allies to help restore ​production and shipping of oil.

Market analysts have warned that Gulf producers are only able to sustain normal production for roughly 25 days if the Strait is completely blocked.

The expanding US-Israeli war with Iran led some major Middle Eastern oil producers to cut supplies due to fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

Oil-driven inflation fears and delayed rate-cut expectations likely strengthened US yields and the Dollar, outweighing safe-haven demand.

The recent 10-day conflict in Iran is beginning to ripple through the global aviation industry, threatening what had been a strong outlook for aircraft demand.

JP Morgan has warned that Iran’s oil production could be slashed in half and oil exports could virtually stall if the US-Israel seize Iran’s Kharg Island, worsening the ongoing global oil shock. The island is regarded as the backbone of Iran’s oil infrastructure, handling approximately 90 per cent of its crude exports.