Olasunkanmi Ibrahim | WBN NEWS AFRICA | May 1, 2025

Part IV in a series of Digital Trade in Nigeria
Nigeria’s government is laying the groundwork for a thriving digital economy. The 2022 Nigeria Startup Act offers a fresh approach to innovation, giving tech startups tax holidays, incentives, and regulatory sandboxes to test new ideas. These policies are fueling investor confidence and encouraging tech entrepreneurship across the nation.

Meanwhile, the Nigeria Data Protection Regulation (NDPR) ensures responsible handling of digital data—a critical element for cross-border e-commerce. Financial policies from the Central Bank of Nigeria are streamlining digital payment systems, improving financial inclusion, and reducing transaction friction for consumers and businesses alike.

These efforts are beginning to bear fruit. Nigeria’s fintech and e-commerce startups are expanding their footprints and attracting significant foreign direct investment. In a rapidly evolving digital landscape, robust policy frameworks give Nigeria the credibility needed to compete on a global stage.

If sustained, these strategic moves could make Nigeria not just a participant, but a leader, in Africa’s digital economy.

Tags:
#Nigeria Policy #Digital Economy #Fintech Startup #Regulation Growth

Olasunkanmi Ibrahim, MBA, is a Corporate & Commercial Attorney with expertise in commercial transactions, corporate governance, sustainability, and international development, and is connected to global reporting initiatives contributing insight at the intersection of law, development, and international impact. Connect with him here on Linkedin.

Sources:
Nigeria Startup Act 2022, Central Bank of Nigeria, Nigeria Data Protection Regulation, African Continental Free Trade Area (AfCFTA), National Digital Economy Policy and Strategy (NDEPS) 2020–2030

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