‘Nigeria Has Chance of Becoming Rallying-point for Africa’s Digital Trade’

Raheem Akingbolu

Nigeria has been described by the Chief Economist of the African Export-Import Bank (Afreximbank), Dr. Yemi Kale, as a natural frontrunner in the Africa’s transition towards technology-driven commerce under the African Continental Free Trade Area (AfCFTA).  

Speaking in Abuja recently at the inauguration of the Africa Trade Center (ATC) in Abuja, with the theme; “Unlocking Nigeria’s Trade and Investment Potential Through Digital Innovation and the Abuja Africa Trade Centre (AATC),” Kale pointed out that Nigeria is strategically positioned to lead the continent’s emerging digital trade revolution.

While stating that digital transformation was critical to unlocking trade and investment potential under the African Continental Free Trade Area (AfCFTA), Kale said the AfCFTA had created the world’s largest new trading bloc, representing a unified market of over 1.3 billion people and a combined GDP of more than 3.4 trillion dollars.

 “This integration goes beyond a symbolic milestone. It is a strategic platform capable of redefining how African economies produce, trade and compete in a rapidly changing global economy. The AfCFTA presents a unique once-in-a-generation opportunity to expand and strengthen regional value chains,” Kale said

Also speaking at the vent, the manager of real estate and administration at Afreximbank, Oluwaseun Alabi, said ATC is a key tool for transforming trade across the continent.