The African Union (AU) has officially endorsed Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AfCFTA) Digital Trade Protocol.
This recognition comes in light of Nigeria’s impressive record in promoting digital enterprise and innovation, as disclosed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement on Monday.
AU Recognizes Nigeria’s Leadership in Digital Trade
The endorsement was made during the 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa, Ethiopia. The AU acknowledged Nigeria’s proactive role in driving the implementation of the AfCFTA Digital Trade Protocol, which was adopted in February 2024.
The protocol includes provisions covering eight key areas, such as:
- Rules of origin for digital goods and services
- Digital identities
- Cross-border data transfers
- Legal transparency in disclosing source codes
- Online safety and security
- Regulation of emerging and advanced technologies
- Financial technology (Fintech) growth
Issoufou Praises Nigeria’s Digital Economy Initiatives
In his progress report on AfCFTA’s digital trade protocol, Mahamadou Issoufou, the former President of Niger Republic and AU AfCFTA Champion, commended Nigeria for leading the charge in Africa’s digital trade agenda.
He specifically praised Nigeria’s role in convening the Digital Economy Roundtable in January, which played a pivotal role in shaping the AfCFTA’s digital trade implementation.
“No organisation, region, or continent has negotiated or adopted such a comprehensive legal instrument on digital trade, positioning the African continent to benefit from the digital economy for innovation and job creation,” Issoufou stated.
He also highlighted the growing influence of young Africans in digital innovation, particularly in mobile banking and fintech, emphasizing that the AfCFTA Protocol on Digital Trade will create an enabling environment for them to fully participate in Africa’s digital economy.
President Tinubu’s Commitment to Africa’s Digital Economy
Issoufou also commended President Bola Tinubu’s administration for organizing the Digital Economy Roundtable in Abuja, which brought together young pioneers in fintech, mobile banking, and digital trade.
“It was evident from the discussions that young people are eager to take advantage of Africa’s digital economy through the AfCFTA Protocol on Digital Trade,” Issoufou noted in his report to the AU summit.
Nigeria’s Endorsement: A Game Changer for Africa
The AU endorsement of Nigeria as the AfCFTA Digital Trade Champion is expected to accelerate Africa’s economic transformation.
Speaking at the summit, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, emphasized the significance of this achievement.
“Africa has demonstrated global leadership by pioneering the first-of-its-kind AfCFTA Protocol on Digital Trade—establishing a comprehensive regulatory framework. The Assembly of Heads of State and Government has officially designated Nigeria as AfCFTA Digital Trade Champion,” Oduwole announced.
She further highlighted that the AfCFTA Digital Trade Protocol is set to:
- Create millions of jobs for Africa’s growing tech-savvy youth
- Contribute billions of dollars to the continent’s GDP
- Attract substantial investments in public digital infrastructure across African nations
Conclusion: Nigeria Leads Africa’s Digital Trade Future
With this landmark endorsement, Nigeria is now positioned as the driving force behind Africa’s digital trade revolution. The country’s leadership in digital commerce, fintech, and innovation will be crucial in shaping Africa’s future economy, fostering cross-border digital transactions, and attracting global investments to the continent.
