The African Union (AU) has officially designated Nigeria as the Digital Trade Champion under the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol, citing the country\u2019s leadership in digital enterprise and innovation.<\/p>\n\n\n\n
The endorsement came at the 38th Ordinary Session of the Assembly of Heads of State and Government, which concluded on Sunday in Addis Ababa. <\/p>\n\n\n\n
Nigeria\u2019s proactive role in advancing the digital trade protocol, adopted in February 2024, was a key factor in the decision.<\/p>\n\n\n\n
The AfCFTA Digital Trade Protocol encompasses eight annexes covering crucial areas such as rules of origin, digital identities, cross-border data transfers, online safety, and financial technology. <\/p>\n\n\n\n
The protocol is expected to provide a robust framework for Africa\u2019s digital economy.<\/p>\n\n\n\n
According to a statement issued on Monday by Special Adviser to the President on Information and Strategy, Bayo Onanuga, former President of Niger Republic and AU AfCFTA Champion, Mahamadou Issoufou, praised Nigeria\u2019s leadership, particularly for convening the Digital Economy Roundtable in January.<\/p>\n\n\n\n
\u201cNo 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,\u201d Issoufou said in his progress report to the AU Assembly.<\/p>\n\n\n\n
He also highlighted Africa\u2019s growing influence in digital innovation, particularly in mobile banking and financial technology, and noted that the protocol would create an enabling environment for young African entrepreneurs.<\/p>\n\n\n\n
\u201cThe AfCFTA Protocol on Digital Trade will establish a conducive environment for these young people to fully participate in Africa\u2019s digital economy,\u201d Issoufou added.<\/p>\n\n\n\n
Reflecting on the roundtable in Abuja, he commended President Bola Tinubu and his administration for facilitating discussions with key stakeholders.<\/p>\n\n\n\n
\u201cThe 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\u2019s digital economy through the AfCFTA Protocol on Digital Trade\u201d, he said.<\/p>\n\n\n\n
Speaking at the AU summit, Nigeria\u2019s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the AU\u2019s endorsement as a milestone in Africa\u2019s economic development.<\/p>\n\n\n\n
\u201cAfrica has demonstrated global leadership by pioneering the first-of-its-kind AfCFTA Protocol on Digital Trade\u2014establishing a comprehensive regulatory framework,\u201d Dr. Oduwole stated.<\/p>\n\n\n\n
She emphasized that the protocol is a \u201cgame changer\u201d for the continent, predicting that it would generate millions of jobs, contribute billions to Africa\u2019s GDP, and attract significant investments in digital infrastructure.<\/p>\n\n\n\n
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The African Union (AU) has officially designated Nigeria as the Digital Trade Champion under the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol, citing the country\u2019s leadership in digital<\/p>\n","protected":false},"author":1,"featured_media":13886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":144},"categories":[31],"tags":[],"class_list":["post-13885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","yoast_head":"\n