By Becky Momodu
Nigeria has reaffirmed its commitment to driving Africa’s digital economy, declaring that digital trade will play a pivotal role in accelerating continental integration, inclusive growth and economic transformation under the African Continental Free Trade Area (AfCFTA).
The Minister of Industry, Trade and Investment, Jumoke Oduwole, made the declaration while delivering a keynote address on behalf of Bola Ahmed Tinubu at the opening of the second AfCFTA Digital Trade Forum held at the National Theatre in Lagos.
Speaking on the theme, “Digital Trade for a Connected African Market,” Oduwole described the forum as a critical platform for translating the AfCFTA Digital Trade Protocol into practical opportunities for businesses across the continent.
Mrs Oduwole noted that while the AfCFTA has created a market of more than 1.4 billion people with a combined Gross Domestic Product exceeding $3 trillion, its success will depend on how easily African businesses can expand across borders through digital commerce.
She said digital trade is reshaping commerce by allowing entrepreneurs, innovators and service providers to access regional markets without the traditional barriers of physical presence.
“Africa already has the talent. Our task now is to create the conditions for that talent to serve a continental market,” she said.
The Minister highlighted Nigeria’s role as co-champion of the AfCFTA Digital Trade Protocol alongside Kenya and South Africa, noting that Nigeria is also the first country to secure parliamentary approval for the protocol.
She said the achievement reflects the country’s position as Africa’s largest digital and fintech ecosystem and its commitment to building an integrated African Digital Single Market.
Oduwole also outlined the Federal Government’s economic reforms under the Renewed Hope Agenda, citing improvements in macroeconomic stability, exchange rate reforms, stronger investor confidence and capital importation that exceeded $20 billion in 2025. According to her, recent reforms, including the Tax Reform Acts, the Investment and Securities Act 2025 and stronger intellectual property protections, are designed to stimulate innovation and attract investment into the digital economy.
The Minister disclosed that the ministry had completed Africa’s first comprehensive mapping of Nigeria’s digital services ecosystem, producing the continent’s first directory of digital services firms and identifying priority expansion markets such as Egypt, Ghana, Kenya, Rwanda and South Africa.
She added that Nigeria is spearheading efforts to reduce regulatory barriers through the Digital Trade Regulators’ Working Group, which is developing guidelines aimed at simplifying licensing requirements, improving transparency and reducing the cost of expanding digital businesses across African markets.
Also speaking at the opening ceremony, Wamkele Mene commended Nigeria for hosting the forum and for its leadership in implementing the Digital Trade Protocol.
He described the gathering as Africa’s foremost platform for promoting collaboration and practical implementation of digital trade.
Mene said Africa’s digital economy, currently valued at about $180 billion, is projected to grow to $712 billion by 2050, driven by expanding mobile connectivity, fintech innovation, artificial intelligence and the continent’s youthful population.
He urged African governments to accelerate ratification of the Digital Trade Protocol, strengthen digital infrastructure, harmonise regulations and promote greater participation of women, youth and micro, small and medium-sized enterprises in cross-border digital commerce.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Bada Ambrose-Medebem, welcomed delegates to Lagos, describing the state as Africa’s commercial and innovation hub and reaffirming its readiness to partner with governments, businesses and investors to build a seamless continental digital marketplace.
Providing the private sector perspective, Yele Oyekola called for stronger collaboration between governments and businesses to transform the AfCFTA from a policy framework into an operational reality.
He stressed the need for interoperable digital infrastructure and harmonised regulations to enable African businesses to pay, trade, comply and scale across borders more efficiently.
The two-day forum brought together government officials, regulators, private sector leaders, innovators and development partners to deepen collaboration on implementing the AfCFTA Digital Trade Protocol and unlocking new opportunities for businesses across Africa’s rapidly expanding digital economy.