Nigeria has announced a sweeping new blueprint aimed at positioning Africa as a global leader in high-value services and digital trade. The declaration was made by the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, during her keynote address at the Trade in Services for Development Conference in Geneva on December 3, 2025.
Addressing global policymakers, financial institutions, and trade experts, Dr. Oduwole highlighted Nigeria’s strategic drive to reshape Africa’s services landscape and build long-term economic resilience. She noted that the future of sustainable development lies in digital, creative and knowledge-based services—sectors she described as the backbone of modern economies.
In her remarks, Dr. Oduwole emphasised Nigeria’s leadership in pushing for regional and international reforms that enable developing countries to thrive in the rapidly expanding digital services market.
According to her, “the economic development of any country can be measured by the robustness of their services sectors and by their levels of trade in services.”
She revealed that the services sector now accounts for 58% of Nigeria’s GDP and provides over 45% of formal employment, underscoring its critical role in national development.
Dr. Oduwole commended the World Trade Organization (WTO) and World Bank for the 2024 Trade in Services for Development Initiative, describing it as a vital platform for empowering developing economies. However, she stressed the urgent need to unlock Africa’s untapped potential—pointing out that the continent still contributes only 2% of global services trade, while Nigeria’s services exports remain below 10% of its total export basket.
The Minister also highlighted Africa’s vulnerability to global disruptions, noting the sharp decline in services exports from US$124 billion in 2019 to US$82.7 billion in 2020 during the COVID-19 pandemic, before a rebound to US$150 billion in 2023. She called for greater diversification away from travel and tourism, sectors that are highly sensitive to global shocks.
Outlining Nigeria’s recent reforms, Dr. Oduwole cited the country’s updated National Intellectual Property Policy, which strengthens the protection and commercialisation of innovative and creative works. She also underscored Nigeria’s leadership within the African Continental Free Trade Area (AfCFTA), especially its role as co-Champion of the Protocol on Digital Trade.
She explained that African nations are building a continental services market through sector liberalisation and harmonised regulatory frameworks. Nigeria, she added, has played a pivotal role in establishing a Regulators’ Working Group to expand market access and deepen cooperation on digitally delivered services.
Just last week, Nigeria hosted an ECOWAS Expert Meeting that launched five major regional initiatives, including a new E-Commerce Strategy, an E-Trade Reform Tracker, and a Regional Trade-in-Services Programme to integrate West Africa more deeply into global value chains.
Calling for coordinated global action, Dr. Oduwole presented three key recommendations:
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A holistic approach linking services trade with intellectual property and digital policy.
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Stronger early-stage collaboration between governments and the private sector.
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A globally recognised system for classifying and measuring digital services.
She noted, “Since our designation as co-Champion on digital trade, we have seen enormous value in engaging the private sector to develop bespoke legal and regulatory frameworks that support digital services to scale.”
Dr. Oduwole reaffirmed Nigeria’s commitment to the WTO’s Trade in Services for Development Initiative, acknowledging the leadership of WTO Director-General Dr. Ngozi Okonjo-Iweala. She concluded with a pledge to work with the WTO, World Bank, and other partners to shape an effective global measurement system for digital services.
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