Keynote Presentation by the National Information Technology Development Agency, Nigeria by Oluwaseyi Adepoju represented the Director-General at the Business Webinar Series 8.0 themed “Unlocking Potential Business, Trade, and Investment Opportunities in Africa”.

WARM WELCOME

Mission – Empower Nigeria’s youth and businesses through technology and innovation.

Impact – Positioning Nigeria as a digital leader in Africa.

Office for Nigerian Digital Innovation (ONDI):
– A specialized arm of NITDA focused on innovation and entrepreneurship.
– Supports tech startups by providing funding, mentorship, and market access.
– Drives policy frameworks like the Nigeria Startup Act to create an enabling ecosystem.

National Information Technology Development Agency (NITDA):
– Oversees Nigeria’s digital transformation.
– Develop policies and strategies to drive the growth of the digital economy.
– Facilitates IT capacity building, startup development, and digital infrastructure expansion.

AFRICA’S GLOBAL TRADE OPPORTUNITY

KEY POINTS:

• Africa’s role in the global economy is at a turning point. With a combined GDP of $3.4 trillion and a population of over 1.4 billion people, Africa is one of the fastest-growing economic regions globally. However, trade within the continent remains low at approximately 17% of total exports, compared to 68% in Europe and 58% in Asia.

• The African Continental Free Trade Area (AfCFTA) and regional bodies like ECOWAS aim to change this narrative by creating a seamless trade environment. The potential is vast: studies suggest that the AfCFTA could boost intra-African trade by over 50% by 2030.

DIGITAL INNOVATION AS A CATALYST

THE TRANSFORMATIVE POWER OF DIGITAL INNOVATION IS UNDENIABLE.

• CROSS-BORDER PAYMENT SYSTEMS
• DIGITAL IDENTITY SYSTEMS
• E-GOVERNMENT PLATFORMS

KEY SECTORS DRIVING GROWTH

FINTECH
– Example: Opay’s success with 30M+ users.
– Opportunity: SME-focused solutions for cross-border trade.

E-COMMERCE
– Example: Access to over 1 billion global customers.
– Opportunity: Market integration for artisans.

AGRICULTURE
– Example: Farmcrowdy boosting farmers’ income.
– Opportunity: Climate-smart agriculture scaling.

ENERGY
– Example: Lumos providing solar energy to SMEs and homes.
– Opportunity: Scaling renewable energy access.

CREATIVE ECONOMY
– Example: Nollywood and Afrobeats’ global reach.
– Opportunity: Regional creative hubs driving jobs and investments.

NITDA’S IMPACT

NITDA HAS BEEN INSTRUMENTAL IN FOSTERING NIGERIA’S DIGITAL ECONOMY:

• POLICY DEVELOPMENT
• CAPACITY BUILDING
• STARTUP ECOSYSTEM SUPPORT
• INFRASTRUCTURE DEVELOPMENT

STRATEGIES FOR REGIONAL INTEGRATION

TO UNLOCK AFRICA’S TRADE AND INVESTMENT POTENTIAL, WE MUST TAKE DELIBERATE STEPS

• POLICY HARMONIZATION
• DIGITAL INFRASTRUCTURE INVESTMENT
• EDUCATION AND WORKFORCE DEVELOPMENT
• PUBLIC-PRIVATE PARTNERSHIPS (PPPS)
• STARTUP ECOSYSTEM DEVELOPMENT.

THE ROLE OF FOREIGN INVESTORS

To foreign investors, Africa presents a unique opportunity for high returns and impact-driven investments. By partnering with local innovators and governments, you can access a rapidly growing consumer base and contribute to sustainable development.

CONCLUSION

Your Excellencies, ladies, and gentlemen, the journey to unlocking Africa’s potential lies in embracing innovation, fostering collaboration, and driving strategic investments. ECOWAS is not just a region of promise; it is a region of action, where deliberate policies and partnerships can transform lives and economies.

Let us take bold steps to ensure that Africa leads the digital revolution, fosters inclusive prosperity, and becomes a beacon of trade and investment.

THANK YOU

Tel: +2348168401851
Email: info@nitda.gov.ng
Address: 28, Port Harcourt Crescent, Off Gimbiya Street, P.M.B 564, Area 11 Garki, Abuja, Nigeria