The Nigerian government has introduced the $5 Billion Technology Export and Digital Trade Desk, an initiative aimed at strengthening the country’s tech sector, driving innovation, and fostering international competitiveness. The project, launched by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, in collaboration with the Federal Ministry of Industry, Trade, and Investment, sets ambitious goals for the nation’s tech ecosystem.
According to Dr. Tijani, the Trade Desk seeks to increase Nigeria’s technology sector’s contribution to GDP from the current 14–18% to 21% within the next three years. A major objective of this initiative is to scale up annual funding for Nigerian startups from $1 billion to $5 billion within the same period. By offering targeted support to local tech companies, the Desk aims to enhance their ability to compete in African and global markets, fostering innovation and entrepreneurship. This move is part of the ministry’s broader strategy to improve the contribution of information communication technology (ICT) to the Nigerian economy, further solidifying the country’s position in the global digital economy.
Advancing Nigeria’s Economic Complexity and Trade Diversification
The Technology Export and Digital Trade Desk aligns with Nigeria’s ambition to improve its ranking on the Economic Complexity Index (ECI), a system that evaluates a country’s productive knowledge and the diversity of its exports. In 2022, Nigeria ranked 127th out of 133 countries, with an ECI score of -1.67. By promoting technology exports and diversifying trade, the initiative seeks to develop Nigeria’s specialized capabilities and boost the production of complex, high-value goods.
The initiative also supports President Bola Tinubu’s vision of achieving a $1 trillion Nigerian economy through innovation, investment, and international trade. To achieve this, the Trade Desk provides a comprehensive suite of programs, partnerships, and policy-driven interventions designed to empower Nigeria’s tech companies and create a strong foundation for growth.
Dr. Tijani emphasized that trade, as the fifth pillar of the ministry’s strategic blueprint, offers Nigeria a golden opportunity to showcase its technology on the global stage while advancing its digital economy. With the creation of this platform, Nigeria is poised to make significant strides in achieving economic diversification, attracting investments, and amplifying the impact of its tech sector on both local and international scales.
Nigeria once a top destination for investments slipped to the second position in a recent report by Africa: The Big Deal. Nigeria secured slightly over $400 million in funding, trailing behind Kenya, which attracted $638 million. Start-ups in Africa raised $2.2b in 2024 in equity, debt and grants.
