ABUJA, Nigeria (VOICE OF NAIJA)-At the 8th African Union Summit, President Bola Tinubu received praise for advancing the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol.
In a statement from the Ministry of Trade and Industry, former Nigerien President Mahamadou Issoufou commended Tinubu’s administration while presenting an annual report on the protocol’s progress, which includes the completion of eight annexes.
Issoufou also highlighted Nigeria’s commitment to the AfCFTA, citing a High-Level Roundtable on its implementation, organized by the Federal Ministry of Industry, Trade, and Investment in Abuja on January 16, 2025.
The statement read: “In his address, (former) President Issoufou commended President Bola Ahmed Tinubu GCFR and the Federal Republic of Nigeria for taking steps towards implementation, including organising a round table highlighting the Protocol.
“In January 2025, Nigeria hosted the AfCFTA Secretary-General and convened a roundtable on trade in goods and services, featuring leading Nigerian FinTech innovators such as CcHUB, Norebase, Helium Health, Renda, Vendease and Bamboo. These companies shared their tech-driven business solutions, demonstrating Nigeria’s pioneering role in digital trade expansion across Africa.”
President Tinubu’s appeal for collaboration on digital trade with other African nations also received recognition.
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The statement noted, “In December 2024 during his address in Cape Town, South Africa, President Tinubu expressed his willingness to collaborate with other African countries on the digital trade agenda for the benefit of all Africans.
“This recognition further reinforces Nigeria’s role as a key driver in shaping Africa’s digital economy under the AfCFTA framework.”
The AfCFTA Digital Trade Protocol is an agreement among AfCFTA member states aimed at creating a seamless and secure digital commerce system by harmonizing digital trade regulations across the continent.
It was officially adopted at the 37th African Union Heads of State Summit, held on February 17–18, 2024.
For the protocol to take effect, at least 22 member states must ratify it.
Once ratified, these states will have up to five years to implement its provisions, covering areas such as data governance, cybersecurity, and digital payments.
The protocol’s eight annexes address key aspects of digital trade, including rules of origin for digital products, guidelines for the recognition and interoperability of digital identities across member states, and cross-border digital payments to enhance financial inclusion and facilitate digital trade.
Additional provisions within the annexes include regulations on cross-border data transfers, disclosure of source code, cybersecurity, frameworks for cooperation, and guidelines for the regulation and promotion of financial technologies.
The annexes of the AfCFTA Digital Trade Protocol were formally adopted by Ministers of Justice during the 10th Session of the Specialized Technical Committee on Justice and Legal Affairs.