The Federal Government has launched a report aimed at unlocking opportunities for Micro, Small and Medium Enterprises (MSMEs) to access the $3.5 trillion African Continental Free Trade Area market through improved digital trade systems.
The report, titled Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA, was unveiled in Abuja by the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.
The initiative was hosted by the Office of the Vice President in collaboration with ODI Global under the Supporting Investment and Trade in Africa (SITA) programme.
Hadejia described the report as timely and strategic, noting that Nigeria is positioning itself as a leader in shaping the digital trade agenda across Africa.
He said enabling seamless cross-border transactions for businesses, especially SMEs, is critical to unlocking trade, fostering economic growth, and creating jobs.
According to him, efficient payment systems supported by trusted digital identity frameworks will be key to realising the Renewed Hope vision of President Bola Ahmed Tinubu for Nigerian MSMEs.
He added that platforms such as the Pan-African Payment and Settlement System, alongside Nigerian fintech firms like PalmPay and Moniepoint, will play a vital role in driving adoption of cross-border digital payments.
Hadejia assured that the government remains committed to strengthening infrastructure, regulatory frameworks, and partnerships to support Nigeria’s leadership in digital trade.
Also speaking, the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, said the report would significantly strengthen the MSME ecosystem.
He noted that cross-border payments in Africa have historically been inefficient and informal but said innovations such as the Bank Verification Number and National Identification Number systems are transforming the landscape.
Special Assistant to the President on ICT Policy, Salihu Dasuki, disclosed that frameworks are being developed to fast-track seamless cross-border payments for MSMEs.
Similarly, Special Assistant to the President on Project Support, Shuda Ahmed, emphasised that affordable and efficient payment systems are essential for MSMEs to scale beyond domestic markets.
The event was attended by stakeholders including representatives of AfCFTA, the National Information Technology Development Agency, National Identity Management Commission, and the Federal Competition and Consumer Protection Commission.
By Deji Elumoye
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