Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has applauded the Federal Executive Council’s (FEC) over the recent approval of three policy instruments designed to strengthen Nigeria’s competitiveness in the global digital economy and accelerate the country’s transition into a knowledge-driven, innovation-led future.
Almona said the approval of the policy frameworks is a better approach towards exploring the opportunities presented by the African Continental Free Trade Agreement (AfCFTA) as opposed to the country’s earlier approach of withholding signatory status from the AfCFTA due to the country’s lack of preparedness.
The approved policies, the National Intellectual Property Policy and Strategy (NIPPS), the ratification of the AfCFTA Protocol on Digital Trade and the National Coordination Mechanism for Services Exports led by the National Talent Export Programme (NATEP).
She said these marked a major milestone in Nigeria’s pursuit of inclusive, technology-enabled growth and would help the country in its ambitious goal to achieve a $1 trillion economy.
She said the National Coordination Mechanism for Services Exports could create over a million jobs and contribute significantly to Nigeria’s GDP through digital outsourcing and export of professional and creative services under the AfCFTA.
Commending the Federal Ministry of Industry, Trade, and Investment (FMITI)’s efforts in pushing the policies for presidential approval, she said its strategic coordination and innovation have seen the policies come to life, adding that such forward-looking initiatives must be encouraged.
She was convinced that the three instruments would collectively enhance Nigeria’s capacity to protect intellectual property, facilitate digital trade and expand the country’s global footprint in services exports.
The NIPPS establishes Nigeria’s first unified framework for the protection and commercialisation of intellectual property, while the AfCFTA Digital Trade Protocol positions Nigeria as a policy-shaping leader in Africa’s emerging digital economy through strengthened standards on e-commerce, cybersecurity and data governance.
Beyond the approvals, the LCCI boss said, there is an urgent need for an inclusive implementation plan that engages critical stakeholders, a robust monitoring and evaluation template that guarantees a culture of continuous improvement.
