FG Unveils Digital Trade Plan for AfCFTA
The Federal Government has stepped up its drive to position Nigerian businesses for success in Africa’s rapidly expanding digital economy, unveiling a fresh strategy designed to help local enterprises maximise opportunities under the African Continental Free Trade Area (AfCFTA).
The initiative was announced at the 2nd AfCFTA Digital Trade Forum in Lagos, where government officials, business leaders, investors and technology experts explored ways to accelerate cross-border digital commerce and strengthen Africa’s single market.
Addressing participants, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described digital trade as a game changer for African economies, noting that technology now enables businesses to reach customers across the continent without establishing physical operations in every country.
She highlighted Nigeria’s growing digital economy as a major competitive advantage, pointing to the country’s vibrant startup ecosystem, expanding fintech industry and youthful tech talent. According to the minister, the Information and Communications Technology (ICT) sector contributes nearly 18 per cent to Nigeria’s Gross Domestic Product, while the country is home to almost one-third of Africa’s fintech companies.
Despite the progress, Oduwole acknowledged that inconsistent regulations, fragmented payment systems and varying trade policies across African countries continue to hinder seamless digital commerce.
To bridge those gaps, she said the government is implementing reforms aimed at simplifying tax processes, modernising investment regulations, strengthening intellectual property protection and updating business classification frameworks to reflect today’s digital economy. The reforms are expected to make it easier for Nigerian startups and technology companies to scale their operations across the continent.
As part of the broader strategy, the Ministry has completed Nigeria’s first comprehensive mapping of its digital services industry, creating what officials describe as Africa’s first digital services directory. The initiative identifies Egypt, Ghana, Kenya, Rwanda and South Africa as key expansion markets for Nigerian digital businesses seeking regional growth.
President Bola Tinubu, in his remarks, reaffirmed his administration’s commitment to implementing the AfCFTA Digital Trade Protocol, urging African nations to move beyond policy discussions and focus on practical measures that will unlock the full potential of intra-African trade.
He emphasised that digital innovation remains central to eliminating trade barriers, improving cross-border transactions and creating new opportunities for entrepreneurs across the continent.
Stakeholders at the forum also stressed the need for stronger collaboration among African governments to harmonise regulations, improve broadband infrastructure, strengthen cybersecurity and promote interoperable digital payment systems.
With the AfCFTA opening access to a market of more than 1.4 billion people and a combined GDP exceeding $3 trillion, the government believes its renewed digital trade agenda will boost exports, attract investment, create jobs and reinforce Nigeria’s position as one of Africa’s leading digital economies.
