Nigeria’s low internet penetration inimical to digital trade market – Okonjo-Iweala

The Director-General of the World Trade Organization, WTO, Ngozi Okonjo-Iweala, says Nigeria’s low internet penetration, with more than half of the population still offline, could limit the country’s ability to tap into the fast-growing global digital trade market.

Okonjo-Iweala stated this on Thursday at the launch of the Women Exporters in the Digital Economy, WEIDE, Fund in Abuja.

According to her,only 45 percent of Nigerians are connected to the internet, far below the global average of 67 percent.

“No nation can truly digitize without a steady supply of electricity and reliable, affordable internet. More than half of Nigerians remain disconnected, and this gap must be closed if we are to seize the opportunities of digital trade.

“Nigeria is one of four countries chosen for the WEIDE Fund’s 2024 rollout, alongside Jordan, Mongolia, and the Dominican Republic, after a highly competitive selection process.

“The Nigerian Export Promotion Council, NEPC, led by Executive Director Nonye Ayeni, will implement the program locally,” she said.

The WTO boss emphasised that digital trade, valued globally at US$4.25 trillion, is the fastest-growing segment of commerce, yet Africa’s share remains below 1 percent.

The former Nigeria’s Minister of Finance urged inter-ministerial collaboration among the Ministries of Communications, Industry, and Power to close the connectivity gap, improve infrastructure, and empower women to compete globally.

Nigeria’s low internet penetration inimical to digital trade market – Okonjo-Iweala