FG launches report to remove payment barriers facing MSMEs in AfCFTA trade

The federal government has launched a report on cross-border digital payments and identity systems aimed at helping Micro, Small and Medium Enterprises (MSMEs) take advantage of opportunities within the $3.5 trillion African Continental Free Trade Area (AfCFTA) market.

The report, titled Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA, was unveiled on Monday in Abuja at a high-level event hosted by the Office of the Vice President in collaboration with ODI Global under the Supporting Investment and Trade in Africa (SITA) programme.

Speaking at the event, the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, described the report as timely and strategic, highlighting the coordination by the Office of the Vice President and the Federal Ministry of Industry, Trade and Investment.

He said the report builds on previous initiatives such as Nigeria’s Digital Trade Strategy and capacity-building programmes for subnational governments, adding that Nigeria is positioning itself as a key player in Africa’s evolving digital trade ecosystem.

Hadejia noted that improving cross-border payment systems and strengthening digital identity infrastructure would enable Nigerian businesses, particularly MSMEs, to participate more effectively in intra-African trade.

He added that seamless payment systems and trusted identity platforms would be essential in advancing President Bola Tinubu’s Renewed Hope Agenda, particularly in supporting the growth of small businesses and job creation.

According to him, platforms such as the Pan-African Payment and Settlement System, alongside Nigerian fintech companies including PalmPay and Moniepoint, are expected to play significant roles in expanding digital payment adoption across borders.

Also speaking, the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, said the report would help strengthen Nigeria’s MSME ecosystem by addressing longstanding challenges in cross-border payments.