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, following the impressive record of the Federal Government in promoting digital enterprise and innovation.
The 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa, Ethiopia, recognised Nigeria’s proactive role in advancing the implementation of the digital trade protocol adopted in February 2024.
The protocol features an agenda to develop eight annexes covering critical areas, including 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, former president of Niger Republic and AU AfCFTA champion Mahamadou Issoufou lauded Nigeria’s leadership for convening the Digital Economy Roundtable in January.
He noted that the gathering was pivotal in driving the digital trade agenda forward.
”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,” former President Issoufou said.
The former Nigerien leader observed that young Africans are leaders in digital innovation, particularly in mobile banking and other digitally enabled services.
”The AfCFTA Protocol on Digital Trade will establish a conducive environment for these young people to fully participate in Africa’s digital economy,” he added.
Reflecting on the Digital Economy Roundtable in Abuja, Issoufou commended President Bola Tinubu and his administration for convening the event and inviting the AfCFTA Secretariat to participate.
”The Roundtable was attended by young pioneers in Fintech, mobile banking and other areas of the digital economy.
”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,” the former Niger president said in his progress report to the 38th Assembly.
On the significance of the AU endorsement of Nigeria, Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, told the summit:
“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. The AfCFTA Digital Trade Protocol is a game changer in advancing Africa’s economic development. It is set to create millions of jobs for Africa’s growing, tech-savvy youth, contribute billions to the continent’s GDP and attract substantial investments for public digital infrastructure across African nations.”