Nigeria has the foundation to lead the evolution of digital commerce across the African continent, according to Kashim Shettima, Vice President of Nigeria.
Shettima said this while speaking at the two-day workshop of AfCFTA Digital Trade Workshop and Global Market.
Shettima, represented by Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment at the workshop themed, “Unlocking State Exports Potential” brought together officials from the Federal and State Governments.
According to VP Shettima, AfCFTA Digital Trade Protocol aims to increase intra-African trade from 18% in 2022 to 50% by 2030, and will be driven by Nigeria’s over 109 million internet users, and a thriving mobile economy.
According to the VP, Nigeria has experienced immense growth in digital commerce services and innovation. “Our innovations in mobile payments have transformed cross-border payments, financial inclusion, and digital transactions across the continent.”
VP: Nigeria, Africa’s Digital Trade Champion, to lead charge for digital commerce
At the workshop, the VP also announced that Nigeria has been named Africa’s Digital Trade Champion, a role which is expected to create over 10 million new jobs across the continent by the end of 2025.
This leadership role was formally recognised at the 38th African Union Heads of State Summit, where President Tinubu received a commendation from former Niger President Mahamadou Issoufou, the AfCFTA Champion.This appointment followed President Bola Ahmed Tinubu’s pledge to champion digital payments for all Africans in Cape Town.
According to the VP, Nigeria has experienced immense growth in digital commerce services and innovation. “Our innovations in mobile payments have transformed cross-border payments, financial inclusion, and digital transactions across the continent.”
He noted that the internet economy is projected to contribute 5.2% of Africa’s GDP this year, with the continent’s digital economy expected to reach $180 billion, up from $115 billion in 2020.
“Initiatives such as the Federal Ministry of Investment’s National Talent Export Programme, launched by the President in September 2023, the Outsource to Nigeria Initiative backed by the Office of the Vice President, and the 3 Million Technology Talents Programme of the Ministry of Innovation and Digital Economy are leading this growth and opening up opportunities for access to high-quality Nigerian talent at a global scale,” Shettima said.
He further noted that Nigeria has modernised its passport application system and invested in port infrastructure to streamline trade procedures, reducing customs processing time, and enhancing the country’s ability to handle a major share of West Africa’s cargo.
“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.
Shettima also announced that Dr. Adamu Mohammed Abdulhamid, Nigeria’s Ambassador to the World Trade Organisation, has been appointed chairperson of the Committee of Trade and Services Special Session, effective this month.
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