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๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria /Economy & Trade

FG Inaugurates ADAPT Forum to Cut Trade Costs, Boost Digital Commerce Under AfCFTA

From ThisDay · () English

Summarized and contextualized by DistantNews.

At a glance

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  • Nigeria launched the Africa Digital Access and Public Infrastructure for Trade (ADAPT) forum to advance digital trade under the African Continental Free Trade Area (AfCFTA).
  • Nigeria is one of three pilot countries for the ADAPT framework, a joint initiative with the Tony Blair Institute for Global Change, aiming to integrate Africa's trade ecosystem digitally.
  • The initiative aligns with President Tinubu's agenda to boost economic diversification, digital transformation, and job creation by simplifying trade processes and expanding market access for MSMEs.

Nigeria has inaugurated the Africa Digital Access and Public Infrastructure for Trade (ADAPT) country implementation forum, signaling a move towards practical implementation of the AfCFTA protocol on digital trade. The nation was chosen alongside Kenya and Morocco as a pilot country for the ADAPT framework, a key initiative by the AfCFTA secretariat and the Tony Blair Institute for Global Change.

not only to participate in Africaโ€™s digital economy, but to actively shape its future

โ€” Mrs. Patience OkalaNational Coordinator/CEO of the Nigeria AfCFTA Coordination Office, speaking at the ADAPT forum inauguration.

Mrs. Patience Okala, National Coordinator/CEO of the Nigeria AfCFTA Coordination Office, stated that the forum demonstrates Nigeria's commitment to not only participating in but actively shaping Africa's digital economy. This recognition stems from Nigeria's strong digital ecosystem and its leading role in digital trade, including co-championing the AfCFTA digital trade protocol.

The ADAPT framework aims to create a unified, secure digital trade infrastructure across Africa, encompassing digital identity, customs, payments, logistics, data exchange, and trade services. As Africa transitions to AfCFTA implementation, competitiveness will increasingly depend on efficient trade practices. The forum will focus on tangible business outcomes such as simplifying trade documentation, improving border processes, enabling trusted digital identities, facilitating faster cross-border payments, and reducing the cost of doing business.

For Nigeria, the Forum will focus on delivering practical outcomes that directly impact businesses. These include simplifying trade documentation and border processes, enabling trusted digital identities for traders, facilitating faster cross-border payments, improving logistics, and reducing the cost of doing business.

โ€” Mrs. Patience OkalaNational Coordinator/CEO of the Nigeria AfCFTA Coordination Office, explaining the forum's priorities.

A primary goal is to enhance market access for Micro, Small, and Medium Enterprises (MSMEs), women-led businesses, and young entrepreneurs across the continent. This initiative directly supports President Bola Ahmed Tinubu's "Renewed Hope Agenda," emphasizing economic diversification, digital transformation, trade expansion, investment promotion, innovation, and job creation. The success of ADAPT hinges on cross-sectoral coordination among various government institutions and robust private sector collaboration.

A key priority is to expand market access for MSMEs, women-owned enterprises, youth-led businesses and innovators across the continent

โ€” Mrs. Patience OkalaNational Coordinator/CEO of the Nigeria AfCFTA Coordination Office, highlighting the initiative's focus on small businesses.
DistantNews Editorial

Originally published by ThisDay. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.