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$5 Billion Investment Drive: FG Launches Digital Trade Desk

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Digital Trade Desk
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In pursuit of a $5 billion investment drive, the Federal Government has today, launched the Technology Export and Digital Trade Desk.

This is aimed at attracting investments of up to $5 billion into the Nigerian tech sector.

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, who announced this  said the initiative was launched in collaboration with the Federal Ministry of Industry, Trade and Investment.

In line with the 5th Pillar of the Ministry’s strategic blueprint, it represents an opportunity to promote Nigerian technology export and the launch of the digital Trade Desk provides, the minister said,

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“With a bold vision, the initiative seeks to increase the technology sector’s contribution to Nigeria’s GDP from the current 14–18% to 21% within the next three years.

“Additionally, the Desk aims to amplify annual funding for Nigerian startups, scaling up from $1 billion to $5 billion over the same period, thereby fostering innovation, entrepreneurship, and global competitiveness,” he said.

According to him, the establishment of the Digital Trade Desk which would provide a comprehensive suite of programmes, partnerships, and policy-driven interventions, also aligns with Nigeria’s ambition to improve its position in the Economic Complexity Index (ECI), showcasing the country’s commitment to diversifying its trade and advancing its position in the global digital economy.

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READ ALSO: How Digital Technologies Can Increase Job Opportunities, Reduce Poverty

The ECI is a ranking system that assesses a country’s productive knowledge and the complexity and diversity of its exports.

Countries with a high ECI have a range of specialised capabilities and can produce a wide variety of complex products.

Nigeria’s ECI in 2022 was -1.67, placing it in 127th rank out of 133 countries.

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Tijani said the efforts also form a critical component of President Bola Tinubu’s overarching goal of achieving a $1 trillion Nigerian economy, underpinned by innovation, investment, and international trade.

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