By: Amadi Vincent Uzoma
The Nigeria Export Promotion Council (NEPC) said the country’s e-commerce value has increased from $675.68 million in 2022 to $9.02 billion in 2023. Managing Director and CEO The council’s executive officer, Mrs Nonye Ayeni, disclosed this during a day-long awareness workshop on the implementation of the developed national e-commerce strategy organized by the Federal Ministry of Industry, Trade and Investment (FMITI) in Kaduna yesterday.
Mrs. Nonye noted that the country is the 38th largest e-commerce market before Pakistan and after Finland, with an expected annual growth rate of 12% from 2021 to 2025. Represented by the State Coordinator of NEPC, Kabir Yusuf, the DG said the workshop was important and timely, especially for Small and Medium Enterprises (SMEs) that export capital in large numbers in the export supply chain but lack the necessary knowledge.
of e-commerce.
While describing e-commerce as a powerful tool for growth and sustainable development in Nigeria, she noted that it has the potential to open up new opportunities, create jobs, and increase accessibility reach both local and global markets.
She urged participants to harness the power of e-commerce to promote innovation, entrepreneurship, and economic prosperity. Director, Department of Raw Materials and Exports, FMTI, Kaura Irimiya, represented by Ahmed Abdul, said the workshop aimed to harness the transformative power of digital trade as a catalyst for progress and economic development, mainly in an era where technological advances are disrupting traditional technologies Customs barriers. He said: “Available data shows that the current market opportunity for e-commerce in Nigeria exceeds 255 billion naira per annum, growing rapidly at 25% per annum and has attracted over 200 million dollars of foreign investment.
Furthermore, Commissioner of the Ministry of Business Innovation and Technology, Patience Fakai, represented by the Permanent Secretary of the Ministry, Dr.Yusuf Saleh, said that the COVID-19 pandemic has accelerated the transition process global to digital commerce.
