The news:
- The Federal Government of Nigeria has unveiled a strategy to drive Africa’s digital trade revolution under the African Continental Free Trade Agreement (AfCFTA) framework.
- The Office of the Vice-President Kashim Shettima disclosed this on Friday, July 19, 2024, during his keynote address at a Stakeholders Summit held at the Presidential Villa, Abuja.
- The Vice President highlighted crucial aspects of the roadmap, including implementing AfCFTA’s Digital Trade Protocol and creating extensive technical talent hubs.
He said the roadmap aims to leverage trade as a driver for economic growth and continental unity in line with AfCFTA objectives.
Also, Vice-President Shettima noted that Nigeria is in position to lead the continent’s technological transformation.
“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,” he explained.
He also stressed the need for the country’s policy initiatives to meet up with those of developed economies, even as they’re enhanced to accelerated Nigeria’s growth and sustain it as the continent’s leading tech hub.
To achieve this, Shettima stated that the plan will also focus on “enhancing digital infrastructure investments, promoting disruptive innovation and entrepreneurship.”
Additionally, he called for strategic partnerships between the public and private sectors, emphasising it as a necessity for the successful implementation of the AfCFTA’s Digital Trade Protocol.
Moreover, the government assured its commitment to investment in digital infrastructure and human capital development to drive the initiative.
Admitting that the digital sector is the foundation upon which all other industries rely to survive, Shettima noted that the country can’t afford to slow down digital technologies.
“Our programmes, from the Investment in Digital and Creative Enterprises (iDICE) to the ongoing intervention to train three million technical talents (3MTT) by the Ministry of Communications, Innovation and Digital Economy, to the Outsource to Nigeria Initiative (OTNI), are lifelines in our digital economy.”
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On the country’s digital trade investment, Dr Bosun Tijjani, the Minister of Communications, Innovation and Digital Economy, said the Tinubu-led administration has been investing significantly in every aspect of the digital trade protocol to create opportunities in the country and Africa.
Last week, President Bola Tinubu launched the Guided Trade Initiative under the AfCFTA, marking a major milestone in the country’s effort to boost intra-African trade and economic diversification. The initiative is expected to unlock an estimated $50 billion in economic opportunities for Nigerian businesses.
