AfCFTA Digital Trade Protocol Gateway to Prosperity – Awolowo

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The Executive Secretary of the National Action Committee on AfCFTA, Mr. Olusegun Awolowo has said that the AfCFTA digital trade Protocol is a gateway to unprecedented prosperity if properly implemented.

The African Continental Free Trade Area (AfCFTA) agreement is aimed at enabling free flow of goods and services across the African continent to boost trade and improve the position of Africa in the global trade.

Awolowo who was speaking at a recent AfCFTA Digital Trade Protocol Workshop in Lagos,  said the workshop marked a significant milestone in Nigeria’s economic trajectory. 

The event served as a gathering point for a diverse array of thought leaders, policymakers, and industry experts, all converging to illuminate the path towards harnessing the transformative potential of digital trade within the African Continental Free Trade Area (AfCFTA) framework.

The workshop underscored the unwavering commitment of the National Action Committee to propel Nigeria to the forefront of digital trade under the AfCFTA. 

Mr. Awolowo articulated the committee’s proactive efforts in mobilizing and engaging stakeholders aimed at unlocking the myriad of opportunities embedded within the digital trade ecosystem. 

He said the AfCFTA Digital Trade Protocol should not be viewed merely as a regulatory framework but as a gateway to unprecedented prosperity, particularly for Nigerian youth, as it will  catalyze job creation and wealth generation.

The workshop featured an inclusive update on the study report, offering insights into the complex dynamics of digital trade and its extensive implications for Nigeria’s economy. 

Two panel sessions, consisting of stakeholders from various sectors, including the National Information Technology Development Agency (NITDA), Association of Telecommunications Companies of Nigeria (ATCON), Fintech Association, and key players in the private sector such as SystemSpecs, Nigerian Export Promotion Council (NEPC), Paystack, MainOne, Flutterwave, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Interswitch, among others, provided invaluable perspectives and strategic imperatives for leveraging the full potential of digital trade under AfCFTA.

A statement signed by Senior Trade Law Expert at the Nigeria AfCFTA Secretariat, Mr. Olusegun Olutayo, said the  workshop served as a platform for robust discussions, collaborative brainstorming, and actionable recommendations to chart a course towards inclusive and sustainable economic growth. Participants deliberated on strategies to leverage Nigeria’s digital prowess to enhance competitiveness, foster innovation, and deepen intra-African trade integration.

They also underscored the imperative of fostering a conducive regulatory environment, strengthening digital infrastructure, and promoting digital literacy to fully capitalize on the opportunities presented by the AfCFTA Digital Trade Protocol.

“As Nigeria embarks on this transformative journey, the National Action Committee reaffirms its steadfast commitment to driving forward the AfCFTA agenda, empowering Nigerian youth, and unlocking the vast potential of digital trade to propel the nation towards unprecedented heights of prosperity,” Awolowo said.

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