The World Bank has promised to work with the Federal Government to improve data services, a major step towards enhancing Nigeria’s standing in global trade, especially in digital services. This report came in after the international banking institution’s research revealed regulatory shortcomings in the nation’s digital trading industry.
Mr. Aleksandar Stojanov, who leads a team from the World Bank and the World Trade Organisation (WTO), presented the preliminary findings of a digital trade regulatory gap analysis done across Africa, with a focus on Nigeria.
Speaking in Abuja on Monday, he stated the importance of strong rules in promoting digital trade. He also stated that the World Bank is ready to help Nigeria advance digital trade and cross-border data services through the National Information Technology Development Agency (NITDA).
An earlier report by the United Nations Economic Commission for Africa emphasised the need for Nigeria to ease limitations on digital trade and services. The Economic Commission for Africa’s African Trade Policy Centre launched a digital trade regulatory integration project in late 2020. This report recommends eliminating digital trade barriers and increasing network openness to foster integration.
NITDA’s Director General, Kashifu Inuwa, recognised the World Bank’s involvement and explained the agency’s strategic intentions, which are included in the newly developed Strategic Roadmap and Action Plan (SRAP) 2.0 for 2024–2027.
“We started with recrafting our Strategic Roadmap and Action Plan 2.0 for 2024-2027, which has eight strategic pillars, among which are strengthening policy implementation and legal framework and what we need to put in place to make sure we create an enabling environment for the digital economy and digital trade,” he noted.
Inuwa highlighted major regulatory developments, noting that NITDA is in the final phases of building a national public key infrastructure (PKI) to support the country’s electronic signature system.
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