By Boluwatife Oshadiya| June 9, 2026
Key Points
- Afreximbank says it has invested $83 billion in Nigeria since inception
- Lagos will host the next Intra-African Trade Fair under the AfCFTA framework
- Federal Government plans a $500 million upgrade of Lagos airport infrastructure
Main Story
African Export-Import Bank (Afreximbank) says it has committed approximately $83 billion to Nigeria since its establishment, reinforcing the country’s position as one of the lender’s largest investment destinations and strengthening Lagos’ ambitions to become Africa’s leading trade and investment gateway.
The disclosure was made at the Invest Lagos 3.0 Summit, themed “Lagos: Business Gateway to Africa,” where policymakers, investors and development finance institutions discussed strategies to accelerate industrialisation, infrastructure development and regional trade integration.
Speaking on behalf of Afreximbank Executive Vice-President Kanayo Awani, Director of Trade Facilitation and Investment Promotion, Dr. Gainmore Zanamwe, said the bank’s support for Nigeria reflects its confidence in the country’s economic potential and strategic role within the African Continental Free Trade Area (AfCFTA).
The announcement comes as Lagos secures hosting rights for the next Intra-African Trade Fair (IATF), one of Africa’s largest trade and investment events. Previous editions of the fair generated billions of dollars in trade and investment deals across the continent.
Afreximbank highlighted investments in industrial parks, special economic zones and large-scale projects, including support for the Dangote Refinery, as examples of how targeted financing can boost manufacturing capacity, job creation and export competitiveness.
The Minister of Aviation and Aerospace Development, Festus Keyamo, also announced plans to modernise the Murtala Muhammed International Airport through a $500 million investment programme, alongside a proposed rail connection linking the airport to Lagos’ transport network.
What’s Being Said
“Lagos is in that position of a gateway to Africa,” said Dr. Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion, Afreximbank.
“Lagos is indeed the gateway to the African market,” said Wamkele Mene, Secretary-General of the AfCFTA Secretariat, noting that intra-African trade has reached approximately $230 billion.
“Lagos is not simply a city of potential. It is a city of proof,” said Shirley Botchwey, Secretary-General of the Commonwealth.
What’s Next
- Lagos is expected to begin preparations for hosting the next Intra-African Trade Fair.
- Afreximbank is likely to expand financing for industrial parks and special economic zones across strategic Nigerian locations.
- The Federal Government will move forward with plans to modernise Murtala Muhammed International Airport and improve multimodal connectivity.
The Bottom Line: Lagos is increasingly positioning itself as the commercial gateway to Africa at a time when the AfCFTA is reshaping continental trade. Continued investment in infrastructure and industrial capacity will determine whether the city can convert that strategic advantage into sustained economic growth.
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