The Federal Government is stepping up efforts to boost trade and investment by leveraging technology, following a meeting between the Minister of Industry, Trade and Investment, Jumoke Oduwole and the Minister of Communications, Innovation and Digital Economy, Bosun Tijani.
The meeting held at the Federal Ministry of Industry, Trade and Investment in Abuja was initiated by Oduwole to explore areas of collaboration between the two ministries to achieve economic growth.
Oduwole, who emphasised the importance of digital innovation in modern commerce and investment, expressed confidence about the collaboration.
“It is gratifying to collaborate with a sister ministry that can help drive our goals of improved international trade and increased foreign direct investment,” she told the crowd.
She outlined key areas of potential collaboration, including the National E-Commerce Policy and Strategy (NEPS 2023–2027), the National Talent Export Programme (NATEP), leadership in the African Continental Free Trade Area (AfCFTA), technology exports, digital trade desks, and efforts to drive service export growth and diversification.
“International trade and investment is a big agenda for us. We are scaling up where we can be globally competitive,” Oduwole emphasized.
“We are scaling up digital infrastructure in both the public and private sectors, and we are growing support for startups,” she added.
Oduwole further noted that Nigeria has established itself as a leader in trade within Africa.
“Trading in Africa is a must for us, and so we must advance digital trade in Africa,” she stressed.
In his speech, the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, underscored the government’s commitment to promoting prosperity through technology.
“The main objective of the current administration led by President Bola Ahmed Tinubu is to promote prosperity through technology. The partnership with the Federal Ministry of Industry, Trade and Investment is a step in the right direction,” he said.
Tijani underscored the impact of technology on economic growth, stating, “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.”
“Trade and investment are crucial to our ministry as we aim to attract billion-dollar investments into the nation,” he continued.
To achieve this, we need the right environment, talent, infrastructure and policies.
Tijani also highlighted Nigeria’s ability to leverage its large youth population to become a global leader in exporting talent.
“Nigeria has a comparative advantage over developed countries in addressing the global digital talent shortage. We believe Nigeria can become a net exporter of talent,” he stressed.
He revealed that three million youths have already been trained in technology skills, adding, “Our goal is not only to train them but also to ensure they are gainfully employed.”
The ministers also urged investors to look into Nigeria’s trade mission in the US and urged the private sector to take advantage of commercial opportunities made possible by both ministries.
“Great nations excel not just because they produce technology but because they export it. This is how we envision Nigeria,” Tijani concluded.
The two ministries’ partnership seeks to improve Nigeria’s economic growth and competitiveness in the global market by coordinating technology with trade and investment agendas.
