Nigeria pushes digital trade agenda as AfCFTA leaders eye $3trn African market

•Reforms have strengthened investor confidence –Oduwole

By Uche Usim

Nigeria has intensified efforts to position itself as the gateway for Africa’s digital economy, with government officials and African trade leaders calling for faster implementation of the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol to unlock a market of over 1.4 billion people with a combined GDP exceeding $3 trillion.

The call was made at the second edition of the AfCFTA Digital Trade Forum 2026, held yesterday at the National Theatre in Lagos under the theme, “Digital Trade for a Connected African Market.”

Speaking at the opening ceremony, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said Africa’s future competitiveness will depend on how quickly governments create an enabling environment for businesses to trade seamlessly across borders using digital platforms.

She noted that while the AfCFTA agreement had laid the foundation for continental integration, its real success would depend on the ability of businesses to expand beyond national borders without regulatory or payment barriers.

“When we talk about trade, we often think about ports, highways, rail corridors and shipping routes. Those investments remain essential, but trade is changing.

“Today, a software developer in Lagos can serve a client in Nairobi. A business in Kigali can collaborate with partners in Accra without establishing a physical presence”, she said.

She described digital trade as one of Africa’s biggest economic opportunities, saying it would enable businesses to reach new markets, create jobs and drive inclusive growth.

According to the minister, Nigeria accepted the role of Co-Champion of the AfCFTA Digital Trade Protocol because of its belief that digital commerce will accelerate Africa’s economic integration.

“The AfCFTA has created a market of more than 1.4 billion people with a combined GDP of over $3 trillion. Digital trade presents a huge opportunity to rapidly leverage this agreement,” she added.

Oduwole highlighted recent reforms by the Tinubu administration aimed at improving Nigeria’s investment climate, including exchange rate unification, tax reforms, a new Investment and Securities Act and stronger intellectual property protection.

She said the reforms have helped restore investor confidence, noting that capital importation exceeded $20 billion in 2025, compared to less than $4 billion three years earlier.

“Collectively, these reforms make it easier to build a digital services company in Nigeria, protect innovation and scale across Africa,” she stated.

The minister disclosed that Nigeria’s ICT sector now contributes nearly 18 per cent to the country’s Gross Domestic Product, while the country hosts about 28 per cent of Africa’s fintech companies.

She also revealed that the Federal Ministry of Industry, Trade and Investment had mapped Nigeria’s digital services ecosystem and produced Africa’s first directory of digital services firms, identifying Egypt, Ghana, Kenya, Rwanda and South Africa as priority expansion markets for Nigerian businesses.

To ease cross-border operations, Oduwole said Nigeria is leading a Digital Trade Regulators’ Working Group that is developing common guidelines on market entry, licensing and investment procedures for digital businesses across participating African countries.

She noted that only five per cent of Africa’s digitally delivered services are currently traded within the continent, describing the figure as evidence of enormous untapped opportunities.

Secretary-General of the AfCFTA Secretariat, Wamkele Mene, said Africa has entered a defining moment in its economic integration journey, stressing that digital trade is already transforming commerce across the continent.

He commended Nigeria for taking a leadership role in implementing the Digital Trade Protocol, describing it as Africa’s largest technology and fintech ecosystem and the first country to secure parliamentary approval for the protocol’s ratification.

“Digital trade is not a distant dream in Africa. It is happening right now, and it is rewriting what is possible for our people,” Mene said.

He said Africa’s digital economy is currently valued at about $180 billion, representing 5.2 per cent of the continent’s GDP, and is projected to grow to $712 billion by 2050.

Highlighting the continent’s strengths, Mene said Africa accounts for about 70 per cent of global mobile money transaction value, possesses abundant critical minerals needed for the digital economy and is home to the world’s youngest population.

He, however, warned that inadequate internet access, fragmented regulations, high data costs, cybersecurity concerns and limited digital skills continue to hinder cross-border digital trade.

“These are not reasons for despair; they are the work ahead of us,” he said.

The AfCFTA chief announced that the Secretariat has launched several initiatives to drive implementation of the protocol, including the Africa Digital Access and Public Infrastructure for Trade (ADAPT) programme, which is being piloted in Nigeria, Kenya and Morocco.

He also highlighted the AfCFTA Digital Inclusion and Entrepreneurship Programme (ADIEP), launched in partnership with Google to provide digital trade and artificial intelligence training for 7,500 small businesses across 19 African countries.

Mene urged African governments to ratify and domesticate the Digital Trade Protocol, integrate digital trade into national development strategies and work closely with the private sector to build a seamless continental digital market.

Earlier, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, described Lagos as the commercial and digital gateway to Africa, saying the state was well positioned to drive the continent’s digital trade revolution.

Using the story of a Lagos-based leather bag maker who now sells products across Africa through digital platforms, she illustrated how technology is breaking down traditional trade barriers.

“The Digital Trade Protocol now gives that market its nervous system,” she said. “When we harmonise those rules, we collapse distance.”

She added that Lagos would continue to partner governments, investors and technology firms to create a business-friendly environment capable of supporting Africa’s emerging digital economy.

Participants at the forum agreed that effective implementation of the Digital Trade Protocol would be critical to increasing intra-African trade, attracting investment, empowering young entrepreneurs and positioning Africa as a major player in the global digital economy.