FG targets full digital business registration, 35% non-oil export by 2030

…As Africa’s e-commerce projected to hit $180b

The federal government on Wednesday, said the ongoing shift to digital trade, under the African Continental Free Trade Area (AfCFTA), presents an enormous opportunity for Nigeria, targeting full digital business registration and increase in non-oil export to 35%, by 2030.

The federal government also noted that by 2030, Africa’s e-commerce market is projected to reach $180 billion.

Digital commerce enables businesses to transcend physical borders, connecting Nigerian producers with markets across 54 African countries under AfCFTA.

The were part of the revelations at the ongoing African Continental Free Trade Area (AfCFTA), Digital Trade Workshop and Global Market, at the conference center of the State House, Abuja.

Bisoye Coker-Odusote, Director General of the National Identity Management Commission NIMC, while speaking at the event, noted that the AfCFTA, remains “the world’s largest free trade area by participating countries, encompassing over 1.3 billion people and a combined GDP of approximately $3.4 trillion.

Nigeria is also projected to see a 40% increase in digital business registrations by 2026, based on the ongoing reforms in the NIMC, which would help in curbing the Small and Medium Enterprises SME onboarding challenges.

By 2030, the full digitization of business identity verification is projected to reduce trade-related fraud by 60% and increase Nigeria’s non-oil export revenue by at least 35%.

Read also: AU endorses Nigeria as AfCFTA digital trade champion

Odusote also revealed that “over 60% of tertiary institutions would have integrated digital identity into their academic and financial administration, by 2027, thus creating a workforce better prepared for the demands of a digitalized trade environment.

“In the long term, embedding digital identity and financial inclusion education at all levels will position Nigeria as a leading exporter of digital services and skilled professionals across Africa, driving human capital growth and economic diversification.”

“The implementation of blockchain-based trade verification and AI-driven customs inspection will reduce clearance times at ports by 50% in the next five years, boosting Nigeria’s position in the World Bank’s ease of doing business ranking. Moreover, increasing digital literacy and trade-related ICT investments will create an enabling environment for businesses, ensuring that by 2035, at least 70% of Nigeria’s trade-related processes are fully digitized, cutting operational costs and making exports more competitive”, Odusote stated

The NIMC DG expressed confidence that “ in no distant future, NIN integration will be aligned with export documentation, customs procedures, and cross-border e-commerce. These developments are not only improving border security but also ensuring compliance with trade regulations, reducing delays and bottlenecks at entry points.”

She noted that the AfCFTA presents a strategic opportunity to diversify its economy beyond oil dependence, increase non-oil exports, and leverage access to a unified African market and Nigeria, as the continent’s largest economy,is positioning itself as the leader in this space.

Under the ongoing digitalization process, businesses can authenticate transactions, reduce fraud, and access regional and global financial networks more easily.

“The interoperability of the NIN with financial institutions, tax authorities, and trade facilitation agencies enhances compliance with international trade regulations while improving ease of doing business.

“This has strengthened trade financing, cross-border payments, and banking services, particularly for SMEs, which make up 90% of Nigerian businesses but often face barriers to regional markets due to complex registration processes and limited digital trade infrastructure.

“To address this, the National Identity Management Commission (NIMC) has partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to integrate digital identity solutions that simplify SME onboarding and expand access to regional payment platforms. Additionally, strengthening trade compliance and security through digital identity verification by customs authorities, tax agencies, and financial institutions can curb illicit financial flows”

In the education sector, the NIMC revealed that it is also playing a crucial role in unlocking Nigeria’s export potential by equipping citizens with the knowledge and digital skills necessary to navigate modern trade environments.

“The integration of the National Identification Number (NIN) into the Unified Tertiary Matriculation Examination (UTME) ensures that student records are uniquely verifiable, reducing identity fraud and streamlining access to higher education”.