In a bid to enhance its digital economy and expand the global footprint of its technology sector, the Federal Government of Nigeria has launched the Technology Export and Digital Trade Desk.
This initiative, led by the Ministry of Communications, Innovation, and Digital Economy in collaboration with the Federal Ministry of Industry, Trade and Investment, is designed to increase the contribution of technology to Nigeria’s GDP while enhancing the country’s place in the global digital economy.
Speaking on the development, Dr Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, described it as a big step towards empowering local technology companies. “This initiative provides bespoke support to Nigerian tech firms, enabling them to access and compete in markets across Africa and beyond,” he explained.
Key Objectives and Vision
The Trade Desk aims to raise the technology sector’s contribution to Nigeria’s GDP from its current 14–18% to 21% within three years. It also seeks to step up funding for Nigerian startups, targeting an increase from $1 billion annually to $5 billion. “This is more than just a desk; it is a strategic platform to drive innovation, foster entrepreneurship, and position Nigeria as a global leader in digital trade,” Tijani stated.
Again, the initiative is aligned with Nigeria’s vision to climb the Economic Complexity Index (ECI), which measures the sophistication of a country’s export capabilities. Though being Africa’s largest economy, Nigeria currently ranks 127th on the ECI, pointing to the need for policies that diversify its export portfolio.
Nigeria’s digital economy has contributed 19.78% to the nation’s GDP in the second quarter of 2024. This growth has been bolstered by the expansion of broadband penetration, which stood at 43.5% in 2024, and the rollout of 5G technology in 2022. With over 164 million internet users and 225.88 million active mobile lines, Nigeria remains Africa’s largest mobile market.
Dr Tijani noted the importance of these developments: “Our goal is to leverage these advancements to enhance productivity and achieve the President’s vision of a $1 trillion Nigerian economy.” He added that the Desk’s comprehensive programs and partnerships will promote Nigerian technology exports while encouraging digital trade under frameworks like the African Continental Free Trade Area (AfCFTA).
Challenges and Opportunities
Even though there’s been progress, Nigeria encounters challenges in securing startup funding and diversifying its exports. In 2024, Nigerian startups raised just over $400 million, falling behind Kenya, which attracted $638 million.
However, deals such as Moove’s $110 million Series B round and Moniepoint’s $110 million Series C round show the sector’s potential.
The Minister highlighted the need for structured support to maximise this prospect. “We are focused on creating an enabling environment for Nigerian tech companies to thrive globally, and this Desk is a testament to that commitment,” he said.
To operationalise this initiative, a white paper titled Growing the Contribution of the Technology Ecosystem to Nigeria’s GDP – A Case for the Technology Export and Digital Trade Desk has been released, detailing the roadmap for implementation. Stakeholders and the public have been invited to review and provide feedback.
In Dr Tijani’s words, “This is not just about improving numbers; it’s about unlocking opportunities for Nigerians and positioning our country as a digital powerhouse.”
With this initiative, Nigeria aims to strengthen its domestic technology sector and also become a top player in Africa’s digital economy, bringing about sustainable growth and global competitiveness.
