FG sensitizes stakeholders on the national e-commerce strategy

The Federal Ministry of Industry, Trade and Investment (FMITI) on Wednesday trained stakeholders in the e-commerce ecosystem to fully leverage the potential of the National E-Commerce Strategy (NeCS).

FMITI Permanent Secretary, Nura Rimi, at a one-day National Sensitization Workshop in Lagos stated that NeCS would better position Nigeria in market networks.

Rimi, represented by the Director of the Department of Commodities and Exports, Kaur Irimiya, said NeCS would help Nigeria create and ensure sustainable market access for domestic non-oil goods and services to the largest network of markets.

He said the implementation of the strategy would underpin the realization of President Tinubu’s vision, acting as a catalyst for sustainable economic growth, job creation and socio-economic empowerment.

He noted that the benefits of cultivating a robust e-commerce ecosystem extend far beyond the commercial sphere.

Rimi said that in an era where technological advancements had dismantled traditional trade barriers, e-commerce was a way for Nigerian businesses to expand their horizons, penetrate new markets and strengthen their global competitiveness.

“By leveraging digital platforms and innovative technologies, Nigerian entrepreneurs and enterprises can overcome geographical limitations and open countless paths to prosperity.

“Available data has shown that the current market opportunity for e-commerce in Nigeria is over $255 billion annually, growing at a rapid rate of 25 percent annually and has attracted over $200 million in foreign investment.

“Additionally, experts in the Nigerian financial services sector estimated that the Nigerian e-commerce market was currently worth about $13 billion (approximately $4.01 trillion) in 2017 and is estimated to reach $50 billion (15, 45 trillion dollars).

“It therefore requires an enabling environment that will enable rapid evolution, drive the development of the sector and contribute significantly to economic growth,” he said.

Commissioner at the Ministry of Commerce, Cooperatives, Commerce and Investment in Lagos, Mrs. Folashade Ambrose-Medebem, said the event provided a useful mechanism for engaging the public-private sector to develop the economy through e-commerce.

Ambrose-Medebem stated that

The unprecedented impact of e-commerce as a catalyst for strengthening sustainable economic growth and development has provided a level playing field for large enterprises as well as small and medium-sized enterprises (SMEs) to operate in the global market.

She noted that as the world has evolved, innovation has become the cornerstone driving economic growth and development of nations, and e-commerce is a key element of the modern e-world.

“E-commerce has remained a true tool for sustainable economic growth and development, but this true tool as a means of market access in Nigeria has not yet been fully exploited.

“Despite the paradigm shift in the way we transact business due to the advent of the Internet, enabling change to be made from virtually anywhere, anytime, the vast majority of Nigerians are yet to embrace this revolution.

“This real tool must be improved for our dear country and the entire nation to tap the market potential of the African Continental Free Trade Area (AfCFTA).

“To bridge the gap between the producers of goods and services in our country and all other countries on the continent,” she said.

The Comptroller-General of the Nigerian Customs Service, Bashir Adeniyi, represented by Chief Superintendent Christopher Abah, urged Nigerians to harness the enormous potential of e-commerce.

This, he said, was important because trade had changed course and Customs wanted to play a key role in ensuring smooth trade in line with President Bola Tinubu’s Renewed Hope Agenda.

Emmanuel Kwaya, acting director-general of the Raw Materials Research and Development Council, said that proper implementation of NeCS will help increase market access for many SMEs.

Kwaya, represented by Oluwashola Marinho, Deputy Director of the Lagos Directorate, added that it would also increase the penetration of electronic transactions in the country as well as enhance the ease of doing business. (NAN) (www.nannews.ng)