President Bola Ahmed Tinubu has pledged Nigeria’s renewed determination to strengthen digital trade reforms and deepen cooperation among African nations to stimulate faster intra-Africa trade, competitive landscape and to unleash a new vista of opportunities for all African economies.
This assurance was given as the President presented Nigeria’s digital transformation approach aimed at utilising technology and innovation for deeper economic integration within the framework of the African Continental Free Trade Area (AfCFTA), highlighting digital trade as a critical enabler of sustained growth and prosperity on the continent.
President Tinubu, in a detailed outline of Nigeria’s commitment, affirmed that his administration is currently undertaking significant reforms targeted at streamlining cross-border transactions, improving digital payment systems, overhauling customs processes and creating a highly conductive and conducive operating environment for businesses in Africa.
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He asserted that these measures are intended to dismantle trade impediments and provide an enhanced level of participation in the African regional economy, particularly for small and medium-sized enterprises (SMEs) that can gain from a more streamlined and efficient market.
In the context of regional cooperation, the President reiterated the imperative of enhanced collaborative efforts among African governments, in order to facilitate the development of robust supply chains, expand market access for African producers, and raise the continent’s stake in the global trade arena.
He further underscored the significant potential of the burgeoning digital economy in Africa, for which ample opportunities abound for innovation, investment, and job creation, provided these opportunities are buttressed by coherent harmonized policies and sophisticated infrastructural development.
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President Tinubu additionally reaffirmed Nigeria’s full commitment to supporting the successful execution of the African Continental Free Trade Area, which he characterized as a game-changing instrument capable of accelerating industrialization, value addition, and ensuring the free flow of goods and services across the continent.
President Tinubu said Nigeria will tirelessly continue its collaborations with partner countries on the continent, as well as with regional organizations and private sector entities, in the endeavor to build cutting-edge digital infrastructure, foster a climate of innovation, and fortify robust regulatory structures essential for smooth e-commerce transactions.
Economic specialists have designated digital trade as one of the most dynamically expanding sectors of Africa’s economy, with projected expansion of Internet accessibility, an uptick in the usage of mobile payment platforms and e-commerce applications driving higher levels of regional integration in the ensuing years.
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The President further emphasized that Nigeria will persevere in its quest to establish itself as a premier nexus for digital trade and innovation, explaining that continued reforms will serve to enhance the competitiveness of Nigeria’s economy, while simultaneously supporting a more diversified economic structure beyond its dependence on oil.
