Nigeria leads Africa’s digital trade revolution, targets 10 million new jobs

• VP Shettima calls for accelerated implementation of AfCFTA Digital Protocol
• Nigeria’s fintech innovations transforming cross-border payments

By Kunle Sanni

Nigeria has been officially 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.

Vice President Kashim Shettima reaffirmed Nigeria’s commitment to leading Africa’s digital trade agenda under the African Continental Free Trade Area (AfCFTA).

Represented by the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, the Vice President announced this during the AfCFTA Digital Trade Workshop and Global Market event at the State House Conference Centre in Abuja.

The workshop, themed “Unlocking State Exports Potential,” brought together officials from federal and state governments, including Commissioners of Trade and Industry and private sector experts.

VP Shettima highlighted Nigeria’s progress in digital commerce, services, and innovation, positioning 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 said.

Nigeria’s appointment as Africa’s Digital Trade Champion follows 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 recognized at the 38th African Union Heads of State Summit, where former Niger President Mahamadou Issoufou, the AfCFTA Champion, commended President Tinubu.

VP Shettima 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.

“The AfCFTA Digital Trade Protocol aims to increase intra-African trade from 18% in 2022 to 50% by 2030,” Shettima noted.

He added that Nigeria, with over 109 million internet users and a thriving mobile economy, is poised to lead Africa’s digital commerce evolution.

The internet economy is expected to contribute 5.2% of Africa’s GDP this year, with the continent’s digital economy projected to reach $180 billion, up from $115 billion in 2020. Initiatives such as the Federal Ministry of Investment’s National Talent Export Programme, the Outsource to Nigeria Initiative, and the 3 Million Technology Talents Programme are driving this growth.

VP Shettima further noted improvements in Nigeria’s passport application system and port infrastructure to streamline trade procedures, reduce customs processing times, and enhance the country’s trade capacity in West Africa.

“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.

Minister of Youth Development Ayodele Olawande described the workshop as a welcome development and recalled that President Tinubu had approved the Nigerian Youth Investment Fund to empower young entrepreneurs and SMEs.

The Minister noted that the fund would support youth businesses in agriculture, manufacturing, textiles, the creative industry, and digital services to meet international trade standards.

“This platform and strategic partnerships will help young entrepreneurs connect with international digital trade,” he said.

Kaduna State Governor Uba Sani, represented by Deputy Governor Hadiza Balarabe, praised the Tinubu administration for strides in ICT, noting that digital trade platforms have eliminated traditional barriers and opened new regional and global market opportunities.

“We must seize this moment as a powerful catalyst for growth and development. With 65% of our population under the age of 25, Nigeria possesses the demographic advantage to become a global digital powerhouse,” the Governor stated.

Minister of Art, Culture, Tourism, and Creative Economy Barrister Hannatu Musawa commended the Vice President for championing digital trade innovations. She emphasized the importance of leveraging AfCFTA to unlock Nigeria’s potential, especially in the creative industry.

“Our ministry is committed to positioning Nigeria’s creative sector as a cornerstone of export growth under the free trade area,” Musawa said.

She highlighted the Creative Economy Development Fund as a transformative initiative to help creators turn intellectual property into bankable assets.

Comptroller General of Nigeria Customs Service Adewale Adeniyi outlined the agency’s commitment to digital trade facilitation, emphasizing the central role of export promotion in Nigeria’s economic strategy.

“Customs has established a dedicated export command in Lagos and participated in AfCFTA’s guided trade initiatives. We have deployed advanced digital solutions, including the new B’Odogwu platform to improve transparency and efficiency,” Adeniyi said.

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,” she said.

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 strategic role in shaping the future of digital commerce across the continent.”

Special Assistant to the President on Export Promotion Aliyu Bunu Sheriff noted that Nigeria’s non-oil exports exceeded $5.4 billion in 2024. “To sustain economic growth and stabilize the naira, we must transition to a production-centered economy focused on value addition,” he said.

Max Mendez-Parra, Principal Research Fellow at the Overseas Development Institute (ODI), emphasized the importance of a robust implementation strategy for AfCFTA’s Digital Trade Protocol.

British High Commission’s Department for Business and Trade Country Director Mark Smithson described AfCFTA as a game changer for Nigeria’s inclusive economic transformation, driving industrial growth and delivering prosperity.