*Our fintech innovations have transformed cross-border payments across continent, says VP Shettima*
*Calls for accelerated implementation of AfCFTA Digital Protocol*
Nigeria has officially been designated as Africa’s Digital Trade Champion, a role that could help create over 10 million new jobs across the continent by the end of 2025.
To this effect, Vice President Kashim Shettima has reaffirmed Nigeria’s commitment to leading Africa’s digital trade agenda under the African Continental Free Trade Area (AfCFTA).
The Vice President, who was represented by the Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, stated this on Wednesday during the AfCFTA Digital Trade Workshop and Global Market at the State House Conference Centre in Abuja.
The workshop, which brought together officials from the federal and state governments, including Commissioners of Trades and Industry and private sector experts, has the theme: “Unlocking State Exports Potential.”
According to VP Shettima, Nigeria’s progress in digital commerce, services, and innovation, has positioned the country as the continent’s digital trade hub.
“Our innovations in mobile payments have transformed cross-border payments, financial inclusion, and digital transactions across the continent,” he stated.
Nigeria’s appointment as Africa’s Digital Trade Champion followed President Bola Ahmed Tinubu’s December 2024 pledge in Cape Town to champion the digital trade agenda for all Africans.
This leadership role was formally recognised at the 38th African Union Heads of State Summit, where President Tinubu received a commendation from former Niger President Mahamadou Issoufou, the AfCFTA Champion.
Speaking at the two-day workshop, the Vice President also announced that Nigeria’s Ambassador to the World Trade Organization, Dr. Adamu Mohammed Abdulhamid, has been appointed chairperson of the Committee of Trade and Services Special Session, effective this month.
“The AfCFTA Digital Trade Protocol aims to increase intra-African trade from 18% in 2022 to 50% by 2030. With over 109 million internet users and a thriving mobile economy, Nigeria has the foundation to lead Africa’s digital commerce evolution,” Shettima noted.
The Internet economy is projected to contribute 5.2% of Africa’s GDP this year, with the continent’s digital economy expected to reach $180 billion, up from $115 billion in 2020.
“Initiatives such as the Federal Ministry of Investment’s National Talent Export Programme, launched by the President in September 2023, the Outsource to Nigeria Initiative backed by the Office of the Vice President, and the 3 Million Technology Talents Programme of the Ministry of Innovation and Digital Economy are leading this growth and opening up opportunities for access to high-quality Nigerian talent at a global scale,” VP Shettima said.k
He further noted that Nigeria has modernised its passport application system and invested in port infrastructure to streamline trade procedures, reducing customs processing times and enhancing the country’s ability to handle a major share of West Africa’s cargo.
“Let us move rapidly from the text of the protocol to the actuality of a digitally enabled trade as a catalyst for prosperity for all,” he added.
Also speaking, the Minister of Youth Development, Mr Ayodele Olawande, described the workshop as a welcome development, recalling that last year, President Tinubu had approved the Nigerian Youth Investment Fund to empower Nigeria’s young entrepreneurs and SMEs.
Noting that the significant approval of the Youth Investment Fund will be dedicated to supporting young Nigerians, the Minister noted that the Tinubu administration “is producing capital businesses for the young entrepreneurs engaging in agriculture, manufacturing, textile, creative industry, digital services and other export items so that they can meet the international trade standard.
“I also believe that this platform and strategic partnerships will help the youths to own their businesses to connect with the international digital trade and make Nigeria productive and globally competitive,” he added.
On his part, Kaduna State Governor, Senator Uba Sani, said a nation that fails to embrace digital trade will certainly be left behind, just as he applauded the Tinubu administration for making significant strides in the ICT sector.
The Governor, who was represented by his deputy, Dr Hadiza Balarabe, said, “Digital trade platforms have eliminated traditional trade barriers, allowing businesses, both big and small, to participate in regional and global markets like never before. Today, we are reminded of the immense potential that lies within the African Continental Free Trade Area in a world increasingly defined by interconnectivity.
“We must seize this moment, not merely as a challenge, but as a powerful catalyst for growth and development. Digital transformation stands today as the cornerstone of innovation and sustainable growth. With 65% of our population under the age of 25, Nigeria possesses the demographic advantage to become a global digital powerhouse.“
On her part, the Minister of Art, Culture, Tourism and Creative Economy, Barrister Hannatu Musawa, commended the Vice President for championing digital trade innovations, saying while Nigeria has the tools to unlock its potential in the sector, AfCFTA is an opportunity to leverage the nation’s strength, especially in the creative industry.
“As the Minister of Arts, Culture, Tourism and the Creative Economy, I believe that the creative and culture industries are not just mere expressions but are real powerful drivers of the economy. Our ministry is committed to positioning Nigeria’s creative sector as a cornerstone of export through growth under the free trade area.
“Through the Creative Economy Development Fund that was recently approved, we are pioneering a new frontier, enabling creators to transform their intellectual property into bankable assets, and I think this is a very important and formidable initiative,” the minister stated.
Also speaking, Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, outlined the agency’s commitment to digital trade facilitation at the workshop.
He emphasised the central role of export promotion in Nigeria’s current economic strategy.
“Customs has established a dedicated export command in Lagos, and they actively participated in AfCFTA’s guided trade initiatives. We have deployed advanced digital solutions, including a new platform christened B’Odogwu, intended to improve transparency and efficiency by connecting all stakeholders on a unified system,” he said.
On her part, Director General of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote, presented data on how digital identity systems will transform Nigeria’s trade landscape.
“This shift to digital trade presents an enormous opportunity for Nigeria to diversify its economy and leverage non-oil assets,” Coker-Odusote stated, projecting substantial growth in business registrations through digital channels in the coming years.
In his welcome remarks, Special Assistant to the President on ICT Policy, Dr Salihu Dasuki Nakande, said, “AU’s endorsement of Nigeria as the AfCFTA Digital Trade Champion is a testament to our country’s strategic role in shaping the future of digital commerce across the continent.
“With this endorsement, Nigeria is not just a participant—we are leading the charge in designing the frameworks, policies, and innovations that will drive Africa’s digital economy forward.”
Also, Special Assistant to the President on Export Promotion, Aliyu Bunu Sheriff, said, “In 2024, Nigeria’s non-oil exports exceeded $5.4 billion, yet this is only a fraction of our true potential. To sustain economic growth, stabilise the naira, and create jobs, we must transition from a predominantly consumption-driven economy to one centred on production and value addition.
“The European Union imports over $120 billion worth of fruits and vegetables annually. If Plateau State, which is rich in fruits and vegetables, captures just 2-5% of this, that translates to $2.4 billion to $6 billion in exports.”
Principal Research Fellow at Overseas Development Institute (ODI), Max Mendez-Parra, said, “The AfCFTA Protocol on Digital Trade certainly has the potential to advance digitally-driven industrialisation in Africa by fostering a conducive environment for digital commerce and innovation.
“To fully harness the benefits of the AfCFTA DTP and realise the opportunities it offers, Nigeria’s public and private sectors need a robust implementation strategy that would also improve domestic regulations and unlock growth in GDP, employment and digital trade.”
Also, Country Director for the British High Commission’s Department for Business and Trade in Nigeria, Mark Smithson, said, “AfCFTA is the African Union’s most ambitious regional economic channel. The AfCFTA holds the potential to be a game changer for Nigeria’s inclusive economic change, driving industrial growth, generating jobs and delivering inclusive prosperity across the continent as well as in Nigeria.”
*Stanley Nkwocha*
*Senior Special Assistant to The President on Media & Communications*
*(Office of The Vice President)*
*19th February, 2025*
Fonte: Nigerian Information Portal