Nigeria yet to harness opportunities in e-commerce investments - minister

Adeniyi Adebayo, minister of industry, trade and investment, has expressed the concern that Nigeria is yet to harness the opportunities in e- commerce due to inadequate investment in the e-commerce value chain.

Adebayo stated this in Abuja at the e-commerce round table session, organised by the Commodities and Export Department of his ministry.

He said the Federal Government had identified e- commerce as a major priority programme that would play critical role in the promotion of commodity trade.

He, therefore, canvassed increased investment in e-commerce to boost trade and investment in the country, saying with the approval of the African Continental Trade Agreement (AFCTA) by the Federal Government, “there is the need for robust and sustainable engagement in all spheres, especially on how to leverage e-commerce to benefit from the agreement and develop our economy.”

He noted that the new face of commodity distribution was e-commerce, adding that in spite of the evolving trends of the market globally, Nigeria has not harnessed its inherent opportunities largely due to inadequate investment in the e-commerce value chain.

“In this regard, government has identified e-commerce as a major priority programme that will play a critical role in the promotion of commodity trade, especially with the current realities of the unprecedented global pandemic.”

He added that this was why the government at all levels is committed to driving initiatives of ecommerce strategy development in line with the Federal Government’s post Covid-19 recovery plan.