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Nigeria’s federal government has revealed that the country plans to lead Africa’s digital trade revolution within the framework of the African Continental Free Trade Agreement (AfCFTA).
The initiative is in line with the Renewed Hope Agenda of President Bola Tinubu’s administration to harness trade as a catalyst for economic growth and continental cohesion in line with AfCFTA objectives.
Speaking on the plans, Vice President Kashim Shettima said Nigeria is better placed to spearhead the continent’s technological transformation.
Shettima said this while delivering the keynote address during a Stakeholders Summit with the theme, ‘Digital Trade in Africa: The Renewed Hope Strategy’, held at the Banquet Hall of the State House, Abuja.
He said: “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.
“Our collaboration must prioritise comparisons of our policy initiatives to those of developed economies and fine-tune them to sustain our place and fast-track our growth.”
The Vice President outlined key components of the roadmap to include implementation of AfCFTA’s Digital Trade Protocol and the development of expansive technical talent hubs.
The plan, according to him, also focuses “on enhancing digital infrastructure investments, promoting disruptive innovation and entrepreneurship, and ensuring the alignment of multiple government agencies to support digital trade initiatives.”
Shettima emphasised the need for strong synergy between the public and private sectors in implementing the AfCFTA’s Digital Trade Protocol, just as he assured that the federal government remains committed to investing in digital infrastructure and human capital development to drive the process.
He said, “Our collaboration must prioritise comparisons of our policy initiatives to those of developed economies and fine-tune them to sustain our place and fast-track our growth. For a sector upon which all others rely to survive, digital technologies hold the nation together, and we cannot afford to slow down.
“Our programmes, from the Investment in Digital and Creative Enterprises (iDICE) to the ongoing intervention to train three million technical talents by the Ministry of Communications, Innovation and Digital Economy, to the Outsource to Nigeria Initiative (OTNI), are lifelines in our digital economy.
“They offer us an avenue to not only maximise our potential but also commit to the adoption of the Digital Trade Protocol within AfCFTA.”
Earlier in his speech, Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijjani, said the Tinubu administration was investing significantly in every aspect of the digital trade protocol, with a view to harnessing opportunities in the country and continent at large.
Similarly, the Head of Prosperity, British Deputy High Commission, Mr. Kris Kamponi, said the United Kingdom is keen to open, free and fair trade, noting that it has positively impacted the UK economy.
