Economy

FG To Promote Digital Economy, Inclusive Development

Minister of finance, budget and national planning, Zainab Ahmed has stated that the federal government would promote industrial digital economy, inclusive and economic development.

This was announced on Tuesday by Zainab Ahmed at the West Africa Business Forum, themed; “Empowering women and youths to spur Africa’s transformation agenda” in Lagos.

She noted that inclusive economic development is a core element of the African Union Agenda 2063 and the United Nations sustainable development goals (SDGs) agenda.

“In Nigeria, Micro, Small and Medium Enterprises (MSMEs) represent up to 90 per cent of manufacturing and 80 percent of trade,” Ahmed said.

“Our national strategy includes an MSME aggregation programme to promote specialization and increase productivity, and also an MSME connection to e-commerce platforms and other emerging technologies.

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“By leveraging these digital technologies, Nigeria hopes to create alternative routes to markets for MSMEs, within Nigeria and beyond, and to support production clusters in manufacturing and agriculture.

“It is, therefore, expedient to promote an industrial digital economy, sustainable and inclusive economic development.”

Ahmed also said that the federal government will leverage the opportunities provided by the African Continental Free Trade Area (AfCFTA) agreement to improve export capacities of both formal and informal service suppliers.

“We are hopeful that the forum will be an effective avenue for empowering women and youth entrepreneurs and addressing the unemployment challenges that we have in the African region.

“The AfCFTA offers the continent’s youth and women greater opportunities to be players in regional value chain development,” she added.

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