Nigeria to Lead Digital Trade, Unlock $712 Billion Market

Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment, stated that Nigeria is ready to champion digital trade to unlock a market potential of $712 billion.

This announcement was made during the second edition of the AfCFTA Digital Trade Forum held in Lagos. Oduwole emphasized that digital trade can create new pathways for African businesses to grow and compete in exports.

She highlighted Nigeria's commitment to building a truly integrated African digital single market, reflecting the nation's role in the AfCFTA, which encompasses a market of 1.4 billion people with a combined GDP of $3 trillion. Oduwole acknowledged the significant opportunities presented by digital trade and stressed the importance of enabling businesses to reach new customers beyond national borders.

Wamkele Mene, the Secretary-General of the AfCFTA Secretariat, affirmed that digital trade is not a distant dream for Africa but a present opportunity that can benefit often overlooked groups, including women and youth in rural communities.