Intent on fully exploiting the advantages inherent in the African Continental Free Trade Agreement (AfCFTA), the federal government unveiled a comprehensive strategy on Friday for Nigeria to lead Africa’s digital trade revolution within the framework of the agreement.
The strategy is part of the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration, aimed at harnessing trade as a catalyst for economic growth and continental cohesion in line with AfCFTA objectives.
In this regard, Vice President Kashim Shettima stated that Nigeria is uniquely positioned to spearhead the continent’s technological transformation.
He made this observation while delivering the keynote address at the Stakeholders Summit themed “Digital Trade in Africa: The Renewed Hope Strategy,” held at the Banquet Hall of the Presidential Villa in Abuja.
“We are in a vantage position because we are the continent’s largest ICT hub. As such, we must lead the way in this unique wave of the Industrial Revolution.
“Our collaboration must prioritize comparing our policy initiatives with those of developed economies and fine-tuning them to sustain our position and accelerate our growth,” the Vice President stated.
Shettima outlined key components of the roadmap, including the implementation of AfCFTA’s Digital Trade Protocol and the development of expansive technical talent hubs.
According to him, the plan 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.”
The Vice President stressed the need for strong synergy between the public and private sectors in implementing AfCFTA’s Digital Trade Protocol. He assured that the federal government remains committed to investing in digital infrastructure and human capital development to drive the process.
He continued: “Our collaboration must prioritize comparing our policy initiatives with those of developed economies and fine-tuning them to sustain our position and accelerate our growth. Digital technologies, which underpin all other sectors, hold the nation together, and we cannot afford to slow down.
“Our programs, from the Investment in Digital and Creative Enterprises (iDICE) to the ongoing initiative to train 3 million technical talents by the Ministry of Communications, Innovation, and Digital Economy, to the Outsource to Nigeria Initiative (OTNI), are vital to our digital economy.
“They offer us an avenue not only to maximize our potential but also to commit to adopting the Digital Trade Protocol within AfCFTA,” Shettima further explained.
Earlier, Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijjani, noted that the Tinubu administration is investing significantly in every aspect of the digital trade protocol, aiming to harness opportunities both within Nigeria and across the continent.
He explained that through innovative policies and programs such as the 3 Million Technical Talent (3MTT) program, data protection policy, and increased investments in digital infrastructure, the administration is preparing the country’s young population for current and future opportunities.
Emphasizing the importance of technology in trading across the continent, Dr. Tijjani said the opportunities within the single market are unprecedented and can be best harnessed through effective collaboration and networking facilitated by digital technology.
In his welcome address, the Special Assistant to the President on ICT Policy, Dr. Salihu Dasuki Nakande, thanked President Tinubu and Vice President Shettima for their commitment and dedication to the Renewed Hope Agenda, which he said has laid a solid foundation for the country’s digital transformation journey.
He said their continuous support has fostered discourse on digital transformation, which will lead to a prosperous Nigeria.
Quoting the Vice President from his address at the World Economic Forum in Davos earlier this year, Dr. Nakande said, “Looking ahead, there is a need for speed and cohesion among African countries. The idea of AfCFTA must be revived, and there is no hope in waiting. We must act swiftly and together to ensure that the AfCFTA succeeds.
“We will explore how the digital economy and AfCFTA can transform Nigerian trade, boost economic growth, support livelihoods, and improve the lives of our citizens.”
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According to him, Nigeria is projected to become a $1 trillion economy by 2026. To achieve this, a digital economy is essential. He noted that the next step in Nigeria’s digital future is regional integration, aligning with the African Union’s Digital Transformation Strategy for Africa, supported by the Digital Protocol.
On his part, the Head of Prosperity at the British Deputy High Commission, Mr. Kris Kamponi, stated that the United Kingdom is a proud champion of open, free, and fair trade, noting its positive impact on the UK economy.
He said the Digital Trade in Africa initiative is crucial for addressing issues related to growing prosperity in Africa.
In her presentation, Senior Research Officer at ODI, Dr. Prachi Agarwal, commended Nigeria for its visionary approach and leadership in prioritizing digital trade, pledging the organization’s commitment to supporting the operationalization of AfCFTA.
She said ODI firmly believes in the transformative potential of digital technology, especially in unlocking market opportunities through the AfCFTA framework; hence, its resolve to partner with stakeholders in this project.
