…our target is financial inclusion for all Nigerians – Hadejia
The federal government has intensified efforts to remove bottlenecks hindering seamless digital payments and e-commerce, with a view to expanding financial inclusion nationwide.
The initiative, being driven by the Office of the Vice President in collaboration with the Ministry of Industry, Trade, and Investment and international development partners, aims to ensure that Nigerians can transfer money and make payments conveniently using their mobile phones and other devices.
Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia, disclosed this on Tuesday in Abuja at a stakeholders’ roundtable.
He said the administration of President Bola Ahmed Tinubu is determined to reach the financially excluded through improved digital infrastructure.
According to a statement issued by Senior Special Assistant to the President on Media and Communications Office of the Vice President Stanley Nkwocha, Hadejia said, “Our target is financial inclusion for all Nigerians.
“From the Office of the Vice President’s perspective, we look at digital payment and identity as the last stumbling block in opening up e-commerce in Nigeria. Resolving these challenges will kill several birds with one stone”, Hadejia stated.
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He noted that while Nigeria already enjoys widespread mobile banking and payments, more work is needed to address issues of identity and cross-border payments that affect e-commerce and the African Continental Free Trade Agreement (AfCFTA).
“Eligible Nigerians, no matter where they are, should have access to quality, simple financial services beyond educational and poverty levels,” he added.
The Deputy Chief of Staff further observed that robust digital payment systems, as seen in countries like India, could drive not only e-commerce but trade generally.
“In a few years, the volume of transactions on digital platforms will surpass that of traditional credit cards,” he said.
Earlier, Dr. Max Mendez-Parra, Principal Research Fellow at the International Economic Development Group, ODI Global, said the organisation had been supporting the AfCFTA Secretariat in Accra and African governments, including Nigeria, in implementing digital trade protocols.
“The AfCFTA is transformative for Africa’s economy, especially Nigeria, and our work is to enhance its implementation in areas like digital trade,” he said.
Also speaking, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, represented by her Special Adviser, Patience Okala, disclosed that the AfCFTA Secretariat has introduced the “AfCFTA DG Pass” to operationalise digital identities, though still at its early stage.
Special Assistant to the President on ICT Policy, Mallam Salisu Dasuki Nakande, recalled that the project commenced two years ago with Vice President Kashim Shettima’s support, adding that the focus is now on ensuring seamless payments.
“As much as Nigerians want to trade, they need to make payments easily across the board, and there is a lot of economy to tap into there,” he said.
The roundtable, it was gathered, will enable the government to gather data and stakeholder input for regulatory, infrastructural, and legislative measures to address the long-standing challenges of digital commerce.
