How Nigeria, others lag behind in global digital export –Okonjo-Iweala

*Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, highlights how Nigeria and other countries can benefit from regional and global trade and investment, leveraging the African Continental Free Trade Area’s increasingly integrated market of 1.4billion consumers and entrepreneurs to promote growth of the technology ecosystem

Isola Moses | ConsumerConnect

The African continent currently lags behind in global export of digitally delivered services to other economies of the world.

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), who stated this said that the promising continent yet accounted for less than 1 percent of global export of digitally delivered services export 2021.

Okonjo-Iweala disclosed this statistic at the virtual First National Digital Economy Conference, organised by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

The programme had the theme, “Promoting A Vibrant Digital Economy; A Catalyst For Economic Growth”.

Stressing that the young population are digitally savvy, the WTO Chief stated that Nigeria and Africa still have a chance to grow through digitalisation and join the league of digitised economies, according to report.

She said: “We must do more to develop the tech sector, this goes beyond digital infrastructure. There is a lot beyond regulation, the government can do more to facilitate the growth of the tech industry.

“Nigeria can also benefit from regional and global trade and investment leveraging the African Continental Free Trade Area (ACFTA) increasingly integrated market of 1.4billion consumers and entrepreneurs as well as market.”

Okonjo-Iweala also stated: “The business to business opportunities are substantial. African countries can attract new investments and become new hubs.

“The WTO is currently working with the world bank to see if we can help build capacity for African countries in digitisation.  We will continue to provide a forum for an inclusive and constructive engagement on the digital economy so that everyone has the tools in participating and benefiting from digital trade.”

Earlier, Ide John Udeagbala, National President of NACCIMA, said the conference was targeted at encouraging the government to come up with policies that will build on existing laws and promote the growth of the technology ecosystem in Nigeria.

Udeagbala also urged the government to establish digital hubs in the six geo-political zones to give opportunities to the rural areas, promote start-ups, encourage innovations in the industry and discover tech savvy that abound in the country.

NACIMMA as well noted that the conference was aimed at identifying the opportunities that exist in the technology.