The Federal Government has unveiled a new report on cross-border digital payments and identity, aimed at unlocking trade opportunities for Micro, Small and Medium Enterprises (MSMEs) within Africa’s $3.5 trillion market under the African Continental Free Trade Area.

The report, presented in Abuja by the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, was developed by the Office of the Vice President in collaboration with ODI Global.

Hadejia said the initiative strengthens Nigeria’s leadership in digital trade and builds on key efforts such as the country’s Digital Trade Strategy. He stressed that seamless cross-border transactions and trusted digital identity systems are essential for boosting trade, creating jobs, and advancing President Bola Ahmed Tinubu’s Renewed Hope agenda.

The report highlights the importance of the Pan-African Payment and Settlement System and the role of fintech firms like PalmPay and Moniepoint in driving adoption.

Government officials noted that improved digital infrastructure and identity systems, including BVN and NIN, will help MSMEs overcome barriers to cross-border trade. They also emphasized the need to address trust, logistics, and regulatory challenges to fully realize AfCFTA’s potential.

Stakeholders at the event agreed that empowering small businesses through digital trade will be critical to expanding intra-African commerce and driving economic growth.