The African Union (AU) has officially designated Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AfCFTA) Digital Trade Protocol.
This endorsement comes as a recognition of the Federal Government of Nigeria's commitment to fostering digital enterprise and innovation across Africa.
During the 38th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia, Nigeria's proactive role in advancing the implementation of the AfCFTA Digital Trade Protocol, adopted in February 2024, was acknowledged.
Nigeria's Leadership in Digital Trade
In a statement issued by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, it was revealed that the AfCFTA Digital Trade Protocol aims to develop eight annexes addressing key aspects of digital trade, including:
- Rules of origin
- Digital identities
- Cross-border data transfers
- Public interest disclosures of source code
- Online safety and security
- Emerging and advanced technologies
- Financial technology (Fintech)
Progress and Impact of the AfCFTA Digital Trade Protocol
In his annual report on the progress of the AfCFTA Digital Trade Protocol, Mahamadou Issoufou, former President of Niger Republic and AU AfCFTA Champion, praised Nigeria's leadership for hosting the Digital Economy Roundtable in January 2024. He described the event as a pivotal moment in advancing the digital trade agenda.
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"No organization, region, or continent has negotiated or adopted such a comprehensive legal instrument on digital trade. This places Africa in a strong position to leverage the digital economy for innovation and job creation," Issoufou stated.
He highlighted that young Africans are at the forefront of digital innovation, particularly in mobile banking, fintech, and digital services, and that the AfCFTA Protocol on Digital Trade will provide them with the necessary framework to fully participate in Africa's digital economy.
Reflecting on the Digital Economy Roundtable in Abuja, Issoufou commended President Bola Tinubu's administration for convening the event and engaging with the AfCFTA Secretariat, emphasizing the enthusiasm of young African entrepreneurs in utilizing the AfCFTA Protocol on Digital Trade.
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Following the AU's endorsement, Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, described the AfCFTA Digital Trade Protocol as a groundbreaking initiative that will revolutionize Africa's economic development.
She stated:
"Africa has demonstrated global leadership by pioneering the first-of-its-kind AfCFTA Protocol on Digital Trade, establishing a comprehensive regulatory framework that will shape the future of digital trade on the continent."
Oduwole further emphasized that the protocol is set to:
- Create millions of jobs for Africa's rapidly growing tech-savvy youth population
- Boost the continent's GDP by billions of dollars
- Attract major investments in public digital infrastructure across Africa
With this endorsement, Nigeria is now positioned at the forefront of shaping Africa's digital economy, ensuring that the continent maximizes the opportunities within the AfCFTA Digital Trade Protocol for economic transformation and technological advancement.
