The Federal Government (FG) has moved to deepen Nigeria’s participation in the continental economy with the launch of a new report focused on cross-border digital payments and identity systems.
Titled “Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA,” the report is designed to help Micro, Small and Medium Enterprises (MSMEs) access opportunities within the $3.5 trillion African Continental Free Trade Area (AfCFTA) market.
Ibrahim Hadejia, Deputy Chief of Staff to the President, unveiled the report on Monday. It was developed by the Office of the Vice President in partnership with ODI Global under the Supporting Investment and Trade in Africa (SITA) programme.
Hadejia described the report as a key step towards strengthening Nigeria’s digital trade ecosystem, noting that it aligns with the country’s broader Digital Trade Strategy.
He stressed that Nigeria must modernise how small businesses carry out cross-border transactions if it hopes to take a leading role in AfCFTA implementation.
A major recommendation of the report is the adoption of the Pan-African Payment and Settlement System (PAPSS).
However, he pointed out that homegrown fintech platforms such as PalmPay and Moniepoint would be critical in driving widespread usage, given their growing customer base.
He added that intra-African trade would increasingly be powered by small businesses, provided they are supported with the right digital tools.
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He also reaffirmed the government’s commitment to addressing persistent challenges around logistics, identity verification and trust.
Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs, said Nigeria is now better positioned to formalise cross-border trade, which has long been dominated by informal and inefficient systems.
According to him, the Bank Verification Number (BVN) and National Identification Number (NIN) frameworks are providing a secure foundation for digital transactions across borders.
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Similarly, Salihu Dasuki, Special Assistant to the President on ICT Policy, disclosed that the government has developed a new framework to accelerate cross-border payments, in line with President Bola Tinubu’s Renewed Hope Agenda.
Also speaking, Shuda Ahmed, Special Assistant to the President on Project Support, underscored the importance of the initiative, noting that MSMEs cannot scale across Africa without seamless and affordable payment systems.
The launch attracted key stakeholders, including representatives from the AfCFTA Secretariat, NITDA, NIMC, FCCPC, ODI Global, and several MSME advocacy groups.
The FG reiterated its commitment to strengthening regulation and infrastructure, positioning Nigeria as a leading force in African trade while ensuring the benefits of growth are widely shared.
