During the Moonshot 2025 conference, Dr. Jumoke Oduwole, Nigeria’s Minister of Trade, Industry, and Investment, shared insights on how Nigeria is accelerating its role in commodities trading throughout Africa. She called on pivotal stakeholders, particularly Nigerian innovators and entrepreneurs, to actively contribute to the success of the African Continental Free Trade Area (AfCFTA), a landmark agreement uniting 54 African nations in trade cooperation.
“Challenges such as infrastructure deficits, complex regulations, and limited capital access are realities we face,” Oduwole acknowledged in her keynote speech. “But these obstacles are universal. Are we gaining traction despite them? Absolutely. I view every hurdle as a chance to innovate and generate sustainable returns.”
She emphasized that at the 38th African Union Heads of State Summit held in Addis Ababa, Ethiopia, in February 2025, Nigeria was appointed co-leader of digital trade under the AfCFTA framework, alongside South Africa and Kenya. This appointment underscores Nigeria’s emerging prominence as a digital trade powerhouse on the continent.
In a candid discussion with Anu Adedoyin Adasolum, CEO and co-founder of Sabi, Oduwole outlined government initiatives aimed at formalizing Nigeria’s informal trade sector, which accounts for over 40% of the country’s commodities market. Efforts include streamlining business registration processes and facilitating access to Tax Identification Numbers through automation.
“Nigeria is actively collaborating with key African partners to open doors for our tech startups and digital service providers,” she explained. “The government is laying down the infrastructure to enable seamless market entry.”
To empower small enterprises in exporting their products, the ministry recently organized a competition awarding more than 140 businesses with $20,000 grants each, coupled with a year of technical support to enhance global market penetration. This initiative was executed in partnership with the International Trade Centre (ITC) and the World Trade Organization (WTO).
Looking ahead, the Ministry of Industry, Trade, and Investment is preparing to launch a specialized program designed to support high-potential startups aiming to expand across Africa and beyond. This program will provide tailored assistance ranging from market access strategies and regulatory guidance to fostering strategic alliances.
To strengthen collaboration between technology innovators and government bodies, Minister Oduwole encouraged tech entrepreneurs to contribute data that will help shape policies and support mechanisms tailored to the digital ecosystem’s needs. “If you haven’t participated yet, please complete the national digital services survey,” she urged. “Your input is vital for us to advocate effectively on your behalf and develop impactful support programs.” You can access the survey here.
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