By Chukwuma Umeorah
Nigeria has hosted the first AfCFTA Digital Trade Protocol Hackathon aimed at harnessing innovation and technology to address trade bottlenecks and unlock the potential of the informal sector under the African Continental Free Trade Area (AfCFTA).
The event formed a key highlight of the 2025 Science of Trade (SOT) Conference held in Lagos, drawing participation from researchers, tech innovators, and trade experts to craft science-based solutions to Nigeria’s trade challenges.
Senior Trade Expert at the Nigerian AfCFTA Coordination Office, Olusegun Olutayo, highlighted the hackathon’s goal of fostering homegrown innovations to address persistent trade bottlenecks such as logistics, infrastructure, documentation, and product certification. “This is about creating an ecosystem where science and innovation solve real trade problems, from informal market access to SME financing and payment systems,” Olutayo said.
He emphasized that the hackathon, the first of its kind in Africa, aimed at addressing seven key trade challenges, including the digital divide affecting over 600 million unbanked Africans.
“We’re no longer just talking policy; we’re executing,” Olutayo noted, pointing to a dedicated budget for research and development to scale solutions from the hackathon, including a grand prize for winning innovations.
“One of the core tools supporting Nigeria’s AfCFTA agenda is the Pan-African Payment and Settlement System (PAPSS), which enables cross-border transactions in local currencies. “Why must I convert Naira to Dollars before trading with Ghana? PAPSS eliminates that hurdle,” Olutayo said.
The conference also explored Nigeria’s shifting trade priorities. While Europe and China remain major partners, Olutayo argued that AfCFTA offered a compelling alternative through preferential tariffs and reduced transaction costs.