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 follows the Federal Government of Nigeria’s commendable efforts in promoting digital enterprise and innovation.
During the 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded recently in Addis Ababa, Ethiopia, Nigeria’s proactive role in advancing the implementation of the digital trade protocol, adopted in February 2024, was acknowledged.
In a statement signed by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, it was revealed that the protocol aims to develop eight annexes covering key areas such as rules of origin, digital identities, cross-border data transfers, legitimate public interest reasons for disclosing source code, online safety and security, emerging and advanced technologies, and financial technology.
Progress of the AfCFTA’s Digital Trade Protocol
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 praised Nigeria’s leadership for organizing the Digital Economy Roundtable in January. He highlighted the event’s pivotal role in advancing the digital trade agenda.
“No organization, region, or continent has negotiated or adopted such a comprehensive legal instrument on digital trade. This positions the African continent to benefit from the digital economy for innovation and job creation,” Issoufou stated.
He also noted that young Africans are at the forefront of digital innovation, particularly in mobile banking and other digital services.
“The AfCFTA Protocol on Digital Trade will create an environment conducive for these young people to fully participate in Africa’s digital economy,” Issoufou added.
What you should know
- 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. The discussions revealed that young people are eager to leverage Africa’s digital economy through the AfCFTA Protocol on Digital Trade,” he mentioned in his progress report to the 38th Assembly.
- Regarding the AU’s endorsement of Nigeria, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, stated: “Africa has demonstrated global leadership by pioneering the first-of-its-kind AfCFTA Protocol on Digital Trade—establishing a comprehensive regulatory framework.
She said the Assembly of Heads of State and Government has officially designated Nigeria as AfCFTA Digital Trade Champion, adding that the AfCFTA Digital Trade Protocol is a game-changer in advancing Africa’s economic development.
Oduwole noted that 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.
