Addis Ababa: The African Union (AU) has endorsed Nigeria as the Digital Trade Champion for the continent under the Africa Continental Free Trade Area (AfCFTA) Digital Trade protocol. The endorsement is a recognition of the Federal Government’s efforts in promoting digital enterprise and innovation, as stated by Mr. Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy.
According to News Agency of Nigeria, the 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa, Ethiopia, acknowledged Nigeria’s proactive role in advancing the digital trade protocol adopted in February 2024. This protocol includes an agenda to develop eight annexes: rules of origin, digital identities, cross-border data transfers, legitimate and legal public interest reasons for disclosing source code, online safety and security, emerging and advanced technologies, and financial technology.
In his annual report on the progress of the AfCFTA’s 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. He noted that the event was crucial in propelling the digital trade agenda forward. Issoufou highlighted that the African continent now stands to benefit significantly from the digital economy for innovation and job creation, thanks to this comprehensive legal instrument on digital trade.
The former Nigerien leader also pointed out the prominent role of young Africans in digital innovation, especially in mobile banking and other digitally enabled services. He emphasized that the AfCFTA Protocol on Digital Trade would create an enabling environment for these young innovators to fully participate in Africa’s digital economy.
Reflecting on the Digital Economy Roundtable in Abuja, Issoufou commended the Tinubu-led administration for organizing the event and involving the AfCFTA Secretariat. The roundtable gathered young pioneers in fintech, mobile banking, and other digital economy sectors. Issoufou observed that the discussions revealed a strong eagerness among young people to leverage Africa’s digital economy through the AfCFTA Protocol on Digital Trade.
Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, informed the summit that Africa had demonstrated global leadership by pioneering the AfCFTA Protocol on Digital Trade, establishing a comprehensive regulatory framework. She remarked that the AfCFTA Digital Trade Protocol is set to revolutionize Africa’s economic development by creating millions of jobs for the continent’s tech-savvy youth, contributing billions to Africa’s GDP, and attracting significant investments in public digital infrastructure across African nations.