The African Export–Import Bank (Afreximbank) has committed $83 billion in investments to Nigeria since its inception, with a substantial portion channelled into Lagos, which has now secured hosting rights for the next Intra-African Trade Fair.
The announcement was made by Mr. Kanayo Awani, Afreximbank Executive Vice-President, at the Invest Lagos 3.0 Summit, themed “Lagos Business Gateway to Africa.” The summit brought together government officials, investors, and development partners to explore opportunities in infrastructure financing, industrialisation, and regional trade under the African Continental Free Trade Area (AfCFTA).
Awani, represented by Dr. Gainmore Zanamwe, Director of Trade, Facilitation and Investment Promotion at Afreximbank, highlighted that the upcoming trade fair is expected to attract major investment deals across the continent. He reiterated the bank’s commitment to investments that support industrial growth and economic transformation, citing industrial parks and special economic zones that reduce barriers to investment through roads, power, and transport infrastructure.
He noted that projects in Benin and Gabon demonstrate how industrial investments create jobs and enhance local value addition, positioning Lagos as a strategic gateway to African markets. Afreximbank’s backing of the Dangote Refinery was also cited as an example of investment-driven industrial development.
AfCFTA Secretary-General Wamkele Mene emphasized Lagos’ strategic importance in African commerce, noting that 50 African countries are implementing AfCFTA and intra-African trade has reached $230 billion. He said Nigeria now counts Africa as its largest export destination, highlighting the benefits of continental economic integration.
Commonwealth Secretary-General Shirley Botchwey praised Lagos as a hub of trust, talent, stability, and long-term growth, urging governments and businesses to convert opportunities into jobs, infrastructure, innovation, and inclusive development.
Minister of Aviation and Aerospace Development Festus Keyamo said Lagos remains Nigeria’s main aviation gateway, handling 67% of international passenger traffic, and highlighted government investments of $500 million to modernize Murtala Muhammed International Airport with plans for a new rail line in partnership with Lagos State.
The summit reinforced Lagos’ ambition to attract global capital, deepen regional trade, and strengthen its position as a leading business and investment destination in Africa.
