The Nigerian Office for Trade Negotiations, Federal Ministry of Industry, Trade and Investment of the Government of Nigeria and the Digital Trade Network, on Wednesday announced, that the Ministry has asked the Network to collaborate with it as it seeks to increase its capacity to foster Nigeria’s participation in the digital economy both nationally and internationally.
Initially, the collaboration is expected to explore areas such as: How digital technology can foster the ability of micro, small and medium sized businesses (MSMEs) to increase their share in national economic life and their export potential.
It will also explore, What national policies can leverage digital entrepreneurship to reach Nigeria’s objectives in sustainable development particularly for young people and remote rural and underserved urban communities, in areas such as: Increasing financial inclusion by leveraging mobile financial services for the 50% of Nigerians that currently are not bankable; Accelerating reduction of the “digital divide” that affects approximately 75% of Nigerians;
Others are; Boosting the capacity and trust of SMEs selling online within Nigeria, and exporting from Nigeria, given the country’s already vibrant online commerce market; and Fostering investment in youth and job creation that leverages the digital economy
According to Ambassador Chiedu Osakwe, Chief Trade Negotiator of Nigeria: “As Africa’s largest economy with a rapidly growing services sector, we know that a focus on a digital Nigeria is a choice for the future, and that the regulatory and trade rules we adopt to do that have an important role to play. We look forward to working with the Digital Trade Network and its global private sector network to take the best ideas from around the world to move us forward, faster.”
Also speaking, Nick Ashton-Hart, Geneva Representative of the Digital Trade Network, said: “DTN is really honoured to work with Nigeria as it continues to lead from the front of African states leveraging digital technologies to create a better life for its people.”
The Nigerian Office for Trade Negotiations is mandated to lead Nigeria’s trade negotiations and to ensure that the results of Nigeria’s trade negotiations contribute to the growth and modernization of the Nigerian economy and job creation.
The Digital Trade Network is a global network of business associations and companies dedicated to helping the world trade community better understand how to apply digital technologies for sustainable economic development. It is the private sector voice dedicated to the Geneva diplomatic community for digital trade policy.