The country is investing in digital infrastructure and talent development, aiming to unlock new economic growth opportunities
Nigeria is positioning itself to lead the continent in digital commerce within the African Continental Free Trade Area (AfCFTA) framework. Already, the country's digital economy has transformed the way millions of citizens shop, bank, and communicate, reshaping the nation's trade landscape and unlocking new pathways for economic growth.
The AfCFTA aims to harmonize digital trade rules and principles, ensuring a streamlined, secure, and inclusive digital trading environment to enhance digital trade within Africa and its engagement with the world. Some key provisions of the digital protocol are market access, data governance, and consumer trust.
Nigeria recently unveiled a comprehensive strategy focusing on enhancing digital infrastructure investments, promoting disruptive innovation and entrepreneurship, and ensuring the alignment of multiple government agencies to support digital trade initiatives.
Key components of the roadmap include the AfCFTA's Digital Trade Protocol implementation and the development of expansive technical talent hubs. "We are in a vantage position because we are the continent's largest ICT hub, and as such, we must lead the way to the future of this peculiar wave of the industrial revolution," Kashim Shettima, Nigeria's vice president, affirmed at a recent gathering of experts in Abuja to brainstorm on the road ahead for digital commerce in Africa.
Nigeria has also invested in Digital and Creative Enterprises (iDICE) designed to promote investment in technology and creative ecosystems as part of measures to maximize its potentials and commit to the Digital Trade Protocol full implementation.
It has set up a program to train 3 million young technical talents while implementing the Outsource to Nigeria Initiative (OTNI) that looks to produce millions of job opportunities and grow Nigeria's Business Process Outsourcing (BPO) and IT-enabled services sector.
Officials see these initiatives as critical to the country's digital economy to enable it to lead Africa's digital commerce. "They offer us an avenue to not only maximize our potentials but also commit to the adoption of the Digital Trade Protocol within AfCFTA," Shettima said.
The Abuja meeting of experts explored how the digital economy and AfCFTA can transform Nigerian trade, boost economic growth, and support livelihoods.
The Abuja meeting of experts explored how the digital economy and AfCFTA can transform Nigerian trade, boost economic growth, and support livelihoods.
They discussed effective strategies for leveraging digital technologies to boost economic growth and support livelihoods, fostering collaboration among stakeholders to drive digital and economic advancement.
They made recommendations for policy frameworks and infrastructure investments as well as shared best practices and success stories from other African countries to inform Nigeria's digital trade initiatives.
However, they cautioned that the implementation of the Digital Trade Protocol will require the coordination of multiple agencies of the government in the country and the alignment with current and the development of new policies and strategies.
Experts also say that dialogue within the government and with the private sector is essential to make a success of the implementation of all these initiatives and maximize their impact on the Nigerian economy, citizens, and enhance the nation's digital trade within the AFCFTA framework.
Kashifu Inuwa, head of Nigeria's Information Technology Development Agency, believes the country can solidify its leadership position if its effort is complemented by cyber resilience. "We need to build cyber resilience, increase our cyber posture and use it as a playbook to expand it to other African countries," he said.
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Kris Kamponi, head of Prosperity at the British Deputy High Commission, expressed his amazement at the rapid access to goods in Lagos, highlighting the efficiency of Nigeria's digital market. He stressed the need to build trust in the process.
"I was amazed when I arrived here in Lagos, I could have access to practically anything I needed almost the same day. If not, the next day," Mr. Kamponi told Africa Renewal.
The AfCFTA creates a single market for goods and services, establishes a unified customs union, and facilitates the free movement of investments, business travelers, and trade.
The agreement seeks to provide broader and deeper economic integration across Africa, attract investment, boost trade, create better jobs, reduce poverty, and increase shared prosperity.
