The African Union (AU) has officially recognized Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AfCFTA) Digital Trade Protocol. This landmark endorsement comes in light of Nigeria’s significant efforts to enhance digital enterprise and innovation within its borders.
The announcement was made during the 38th Ordinary Session of the Assembly of Heads of State and Government, recently concluded in Addis Ababa, Ethiopia. Nigeria’s proactive approach to implementing the digital trade protocol, which was adopted in February 2024, was highlighted during the assembly.
Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, stated that the protocol aims to create eight annexes that will address essential areas such as rules of origin, digital identities, cross-border data transfers, and online safety, among others. This comprehensive framework is set to bolster Nigeria’s digital economy and position the continent for greater participation in the global digital marketplace.
Former President of Niger Republic and AU AfCFTA Champion, Mahamadou Issoufou, commended Nigeria’s leadership for hosting the Digital Economy Roundtable in January. He emphasized the event’s critical role in furthering the digital trade agenda and noted that Africa is poised to benefit from a robust digital economy driven by innovation and job creation.
Issoufou also pointed out that young Africans are leading the way in digital innovation, especially in sectors like mobile banking. He stated, “The AfCFTA Protocol on Digital Trade will create an environment conducive for these young people to fully participate in Africa’s digital economy.”
Dr. Jumoke Oduwole, the Minister of Industry, Trade and Investment, affirmed Africa’s global leadership in pioneering the AfCFTA Protocol on Digital Trade. She described the protocol as a transformative initiative that is expected to generate millions of jobs, significantly boost the continent’s GDP, and attract considerable investments in public digital infrastructure.
The endorsement of Nigeria as the AfCFTA Digital Trade Champion marks a pivotal moment for the nation and the continent, reinforcing a commitment to harnessing digital opportunities for economic growth.
This news piece is brought to you by Newspot Nigeria.
Source: Nairametrics
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