Integrating trade and technology is critical to digital development, with far-reaching implications for economic growth, job creation, and global competitiveness. By combining trade policies with technological innovation, countries can unlock new markets, improve productivity, and enhance service delivery.

The Minister of Trade and Investment, Jumoke Oduwole, met with the Minister of Communication, Innovation, and Digital Economy, Bosun Tijani. According to a January 16 press release from the Ministry of Communications, they discussed collaborative strategies to boost Nigeria’s economy and enhance its global competitiveness. The meeting focused on leveraging technological innovation to strengthen trade policies, attract foreign investment, and expand international trade.

Minister Oduwole emphasized the role of digital innovation in advancing trade, highlighting that “International trade and investment is a big agenda for us. We are scaling up where we can be globally competitive.”

Bosun Tijani aligned the collaboration with the Tinubu administration’s focus on driving economic prosperity through technology, noting that “Modern day technology is a key enabler for any economy. If you increase investment in technology by 10%, it can produce a 25% increase in GDP. "

According to Minister Oduwale, areas of collaboration include the National E-Commerce Policy (NEPS 2023-2027), the National Talent Export Programme (NATEP), leadership in AfCFTA, and efforts to diversify service exports.

Both ministers urged the private sector to seize opportunities provided by their ministries and highlighted Nigeria’s trade mission in the U.S. as a platform for prospective investors.

According to the National Bureau of Statistics (NBS), the digital economy contributed 13.12% to Nigeria’s GDP in Q1 2024. This underscores the sector’s growing importance as a driver of economic transformation. Strengthening collaboration between the Ministry of Trade and Investment and the Ministry of Communication, Innovation, and Digital Economy could amplify this momentum, fostering innovation, attracting foreign investment, and enhancing Nigeria's competitiveness in the global digital market.

Hikmatu Bilali