NEPC Eyes $27tn Global E-commerce Market in New Initiative

James Emejo in Abuja

The Executive Director/Chief Executive, Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, has said the council remained committed to tapping into the $27 trillion global e-commerce market to grow and diversify the nation’s economy from crude oil as a major source of revenues.

He said NEPC was ever willing to render support to individuals and organisations that present viable option that will enhance market access for Nigerian goods and services of various sectors. 

Speaking at the launch of Agogo Africa, an innovative e-commerce platform that seeks to boost the country’s African fashion exports, among others, Yakusak said as of today, e-commerce remained one of the fastest-growing industries in the global economy with an annual growth estimate at 23 per cent and projected to hit $27 trillion by the end of the decade.                                

However, he said Agogo Africa seeks to create an innovative e-commerce platform that will connect the creative industry to the international market, especially now that more emphasis is being placed on e-commerce.

The NEPC boss also pointed out that the apparel, garment, arts and craft, cosmetics and the beauty industry have continued to make tremendous contributions to the growth of Nigeria’s Gross Domestic Product (GDP), recording over $5 billion in e-commerce transactions in 2020.

According to him, the country is currently ranked the 35th largest market for e-commerce globally and records yearly