By Joy Onu
Nigeria has reaffirmed its commitment to advancing Africa’s digital economy, declaring that digital trade will be a major driver of continental integration, inclusive growth and economic transformation under the African Continental Free Trade Area (AfCFTA).
According to a statement by the Head, Press and Public Relations, Federal Ministry of Industry, Trade and Investment, Obilor-Duru Augustina Okechi, the Minister of Industry, Trade and Investment, Jumoke Oduwole made the remarks while delivering the keynote address on behalf of President Bola Ahmed Tinubu at the opening of the second AfCFTA Digital Trade Forum in Lagos.
Addressing ministers of trade, policymakers, business leaders and development partners from across Africa, Oduwole described the forum as a strategic platform for translating the AfCFTA Digital Trade Protocol into practical opportunities for businesses across the continent.
Speaking on the theme, “Digital Trade for a Connected African Market,” the minister said the AfCFTA has created a market of more than 1.4 billion people with a combined Gross Domestic Product (GDP) exceeding US$3 trillion, but noted that its success would ultimately be measured by how easily African businesses can expand across borders through digital commerce.
She said digital trade is reshaping commerce by enabling entrepreneurs, innovators and service providers to access regional markets without the traditional barriers associated with 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.
Oduwole said Nigeria is leading implementation of the AfCFTA Digital Trade Protocol as Co-Champion alongside Kenya and South Africa, adding that it is the first African country to secure parliamentary approval for the protocol.
According to her, the milestone reflects Nigeria’s position as Africa’s largest digital and fintech ecosystem and demonstrates its commitment to building an integrated African Digital Single Market.
The minister highlighted key economic reforms under President Tinubu’s Renewed Hope Agenda, including improved macroeconomic stability, exchange rate reforms, stronger investor confidence and capital importation exceeding US$20 billion in 2025.
She said recent policy initiatives, including the Tax Reform Acts, the Investment and Securities Act 2025 and strengthened intellectual property protections, are creating an enabling environment for innovation, investment and digital enterprise.
Oduwole further said that the Federal Ministry of Industry, Trade and Investment had completed Africa’s first comprehensive mapping of Nigeria’s digital services ecosystem, leading to the continent’s first directory of digital services firms. She said the exercise also identified Egypt, Ghana, Kenya, Rwanda and South Africa as priority markets for the expansion of Nigerian digital service providers.
She added that Nigeria is spearheading efforts to reduce regulatory barriers through the Digital Trade Regulators’ Working Group, which is developing Guidelines on Market Entry and Investment for African Digital Service Firms to simplify licensing requirements, improve regulatory transparency and reduce the cost of expanding across African markets.
The minister said that although only five per cent of Africa’s digitally delivered services are currently traded within the continent, the figure presents enormous opportunities for businesses, investors and governments to deepen intra-African trade through harmonised regulations, stronger digital infrastructure and efficient cross-border payment systems.
Also speaking, the Secretary-General of the AfCFTA Secretariat, Wamkele Mene, commended Nigeria for hosting the second edition of the Digital Trade Forum and for its leadership in driving implementation of the Digital Trade Protocol.
He described the gathering as Africa’s foremost platform for promoting collaboration and practical implementation of digital trade, noting that the continent’s digital economy, currently valued at about US$180 billion, is projected to grow to US$712 billion by 2050, driven by expanding mobile connectivity, fintech innovation, artificial intelligence and Africa’s youthful population.
Mene urged African governments to accelerate ratification and domestication of the Digital Trade Protocol, strengthen digital infrastructure, harmonise regulations and promote greater participation of women, youths and micro, small and medium-sized enterprises in cross-border digital commerce.
Welcoming delegates, Folashade Bada Ambrose-Medebem described Lagos as Africa’s commercial and innovation hub, saying the state remains committed to partnering with governments, investors and businesses to build a seamless continental digital marketplace.
She said that digital trade presents unprecedented opportunities for entrepreneurs across Africa to access new markets and create shared prosperity.
Delivering the private sector perspective, Duplo Co-Founder and Chief Executive Officer, Yele Oyekola, called for stronger collaboration between governments and businesses to transform the AfCFTA from a policy framework into an operational reality.
He said the agreement’s next phase would be determined not by negotiations but by whether African businesses can seamlessly pay, trade, comply with regulations and scale across borders.
Using the example of a Lagos business paying a supplier in Nairobi, Oyekola noted that many cross-border transactions still pass through correspondent banks outside Africa, increasing costs and delays. He urged governments to harmonise regulatory standards and support interoperable digital infrastructure, while encouraging the private sector to build the financial and technological systems needed to enable frictionless trade.
He described the Pan-African Payment and Settlement System (PAPSS) as an important foundation for continental commerce but stressed that businesses also require integrated solutions for invoicing, compliance, reconciliation and payments to unlock the full benefits of the AfCFTA.
The two-day forum brought together government officials, trade ministers, regulators, development partners, innovators and private sector leaders to strengthen collaboration on implementing the AfCFTA Digital Trade Protocol and unlocking new opportunities for African businesses in the continent’s rapidly expanding digital economy.
