Nigeria Targets $3.4 Trillion AfCFTA Opportunities to Boost Tech Startups

23 Jan 2025

Dr. Bosun Tijani, Nigeria's Minister of Communications, Innovation, and Digital Economy, has highlighted the nation's strategic plans to leverage on the $3.4 trillion market opportunities available through the African Continental Free Trade Area (AfCFTA).

Speaking after a high-level roundtable discussing Nigeria's strategies for implementing AfCFTA protocols, Dr. Tijani expressed his pleasure in collaborating with fellow ministers, including Dr. Doris Uzoka-Anite, Minister of Trade and Investment, and Senator John Owan Enoh, Minister of State for Industry, during the visit of AfCFTA Secretary-General Wamkele Mene.

Dr. Tijani highlighted the transformative opportunities presented by AfCFTA, emphasizing, "With a population exceeding 1.4 billion and a total GDP surpassing $3.4 trillion, the African Continental Free Trade Area is a gateway for Nigerian enterprises and tech startups to thrive."

The Minister noted that the discussions at the event reflected Nigeria's commitment to leading efforts that ensure AfCFTA fosters economic growth and shared prosperity across Africa.

Following the roundtable, Dr. Tijani engaged with representatives from seven prominent tech startups, including Moni (YC W22), Vendease Africa, Co-Creation Hub (CCHUB), Renda Africa, Norebase, Helium Health, and Bamboo. The aim was to identify ways the Ministry could assist in their growth and success.

"We had an enlightening dialogue, and I am eager to collaborate on various initiatives that will enhance the overall tech startup ecosystem," the Minister stated.

Through these initiatives, the Nigerian government aims to create a supportive environment for technology innovation while harnessing the opportunities presented by the AfCFTA to benefit local businesses and bolster the economy.

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