The African Export–Import Bank (Afreximbank) says it has committed $83 billion to Nigeria since inception, with a significant share invested in Lagos, as the city secured hosting rights for the next Intra-African Trade Fair.
The Executive Vice-President, Afreximbank, Kanayo Awani, said at the Invest Lagos 3.0 Summit that the next Intra-African Trade Fair was expected to attract major trade and investment deals across the continent.
Awani, who was represented by Dr Gainmore Zanamwe, Director, Trade, Facilitation and Investment promotion, Afreximbank, said that the bank remained committed to investments that support industrialisation and economic transformation across Africa.
He reiterated Afreximbank’s decision to support the initiative, adding, “we did not need to think twice.”
Awani said that the bank developed industrial parks and special economic zones to reduce investment barriers through the provision of roads, power and transport infrastructure.
According to him, projects in Benin and Gabon have shown how industrial investments can boost local value addition and create jobs.
“Lagos is in that position of a gateway to Africa,” he said.
Awani also highlighted Afreximbank’s support for the Dangote Refinery, saying it reflects the impact of investment-led industrial development.
In his speech, the AfCFTA Secretary-General, Wamkele Mene, stated that Lagos occupies a strategic position in African commerce and industrialisation.
“Lagos is indeed the gateway to the African market,” Mene said.
He noted that 50 African countries were already implementing the AfCFTA and that intra-African trade had reached 230 billion dollars.
According to him, Nigeria now counts Africa as its largest export destination, a development he said underscores the benefits of continental economic integration.
Mene announced that Lagos would host the next Intra-African Trade Fair, expected to attract major trade and investment transactions.
In her remarks, the Commonwealth Secretary-General, Shirley Botchwey, said that investors increasingly seek markets that offer trust, talent, stability and long-term growth.
“That is why Lagos matters,” she said.
Botchwey stated that Lagos serves as a commercial engine, logistics hub and cultural powerhouse that reflects Africa’s economic potential.
She urged governments and businesses to translate opportunities into jobs, infrastructure, innovation and inclusive growth.
“Lagos is not simply a city of potential. It is a city of proof,” she said.
The summit, which had the theme, “Lagos Business Gateway to Africa”, brought together government leaders, investors and development partners to explore opportunities in infrastructure financing, industrialisation and regional trade under the African Continental Free Trade Area (AfCFTA).
GIK/APA