At WTO gathering, Oduwole seeks support for AfCFTA, digital trade

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has stressed the need for Nigeria to lead the way in digital trade and Africa’s economic growth. Speaking at the sidelines of a recent World Trade Organisation (WTO) mini-ministerial gathering to discuss trade challenges and priorities, she emphasised that Nigeria’s engagements at the World Economic Forum (WEF) were to advance the African Continental Free Trade Agreement (AfCFTA) and digital trade. Oduwole revealed that the AfCFTA digital trade protocols had been finalised and would be ratified next month in Addis Ababa.

This will ensure that African businesses are strategically positioned to leverage future opportunities. She added that digital trade is foundational to Africa’s economic growth strategy and that it would help businesses overcome traditional trade barriers and connect with partners across borders. She said Nigeria was forging new partnerships and leveraging existing relationships to amplify its influence and voice on the global stage such as joining BRICS with future aspirations to join the G20.



She said the first pillar of Nigeria’s economic agenda is attracting businesses to generate profits while the second is promoting impact investments. The third, she said, centres on sustainable development. According to her, Nigeria’s priorities at the negotiations include advocating WTO terms that facilitate digital trade and address regulatory barriers to ensure inclusive participation in the global digital economy, supporting frameworks in the WTO that enhance investment flows to drive economic growth and sustainable development in Nigeria, substantive negotiations to address food security, market access and agricultural subsidies through an agriculture agreement under the Doha Round and effective implementation of the Fisheries Subsidies Agreement to promote sustainable fishing practices and protect marine resources.

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