Lagos CANEX: minister says over $500M in deals under discussion, but none confirmed signed

Nigeria's Minister of Industry, Trade and Investment, Jumoke Oduwole, said Nigerian entrepreneurs were discussing proposed transactions worth more than US$500 million at the Creative Africa Nexus (CANEX) WKND 2026 in Lagos. She gave the figure in opening remarks on November 5, after visiting deal rooms co-curated by her ministry and the African Export-Import Bank (Afreximbank).

Figure covers deals under negotiation, not completed financing

The figure describes business under negotiation. Her remarks did not identify the proposed transactions, name their counterparties, or specify how much had been signed or disbursed. The event's Deal Room lets entrepreneurs present projects to financiers, and the official CANEX website describes it as a platform for entrepreneurs to access financing.

Event runs November 5–8; vice-president urges Africa to monetise creativity

CANEX WKND 2026 runs from November 5 to 8 at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, under the theme "One People, United in Culture, Creating for the World." It is hosted by the Federal Government of Nigeria and organised by Afreximbank through its CANEX programme. Vice-President Kashim Shettima, opening the event on Thursday, challenged African countries to turn their growing global cultural influence into sustainable economic wealth, while Lagos Governor Babajide Sanwo-Olu said hosting the event was further recognition of Lagos as a major centre of Africa's creative economy.

Afreximbank raises creative financing commitment to $2 billion

Afreximbank has raised its creative financing commitment from $500 million to $2 billion, according to event coverage, and the gathering drew about 17,000 registrations. A high-level conversation on November 6, "One Market, One Culture: Building the Creative Economy of Global Africa," examined how to convert African culture's global influence into stronger creative businesses, exports and investment, with Nobel laureate Wole Soyinka among the speakers; a major concert follows on November 7.

(Sources: Okay News; Radio Nigeria (FRCN); CANEX coverage. Photo: file photo of the National Theatre, Lagos — the Wole Soyinka Centre for Cultural and Creative Arts, the event venue.)