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Lagos, Nigeria—The Lagos Chamber of Commerce and Industry (LCCI) has publicly commended the Federal Government for its recent approval of three transformative policy instruments aimed at strengthening Nigeria’s competitiveness in the global digital economy.

The LCCI views the policies as a crucial step toward accelerating the nation's transition into a knowledge-driven, innovation-led future and achieving the ambitious target of a $1 trillion economy.

Three Transformative Policy Instruments

The policies, recently approved by the Federal Executive Council (FEC), were spearheaded by the Federal Ministry of Industry, Trade, and Investment. According to a statement issued by the Director-General of LCCI, Dr. Chinyere Almona, these frameworks mark a major milestone:

1. National Intellectual Property Policy and Strategy (NIPPS): This establishes Nigeria’s first unified framework for the protection and commercialization of intellectual property, encouraging local innovation.

2. Ratification of the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade: This strategic ratification positions Nigeria as a policy-shaping leader in Africa’s digital economy by strengthening standards on e-commerce, cybersecurity, and data governance.

3. National Coordination Mechanism for Services Exports (led by NATEP): Spearheaded by the National Talent Export Programme (NATEP), this mechanism is designed to create over one million jobs and contribute significantly to Nigeria's Gross Domestic Product (GDP) through digital outsourcing and the export of professional and creative services under the AfCFTA.

Praise for Strategic Alignment

Dr. Almona praised the strategic coordination demonstrated by the ministries involved, noting that the policies address key challenges that had previously hindered Nigeria's full participation in continental trade agreements.

“The approval of these policy frameworks is a better approach towards exploring the opportunities presented by the African Continental Free Trade Area (AfCFTA), as opposed to our earlier approach of withholding our signatory status to the AfCFTA due to our lack of preparedn¹ess,” Almona stated.

She affirmed the Chamber's conviction that the three instruments will collectively enhance Nigeria's capacity to protect intellectual property, facilitate digital trade, and expand the country's global footprint in services exports.

Call for Swift and Inclusive Implementation

While commending the approvals, the LCCI boss urged the government to move swiftly beyond approval to inclusive implementation.

The Chamber called for:

• An inclusive implementation plan that actively engages critical stakeholders.

• A robust monitoring and evaluation template to ensure continuous improvement.

• Strong inter-agency coordination to guarantee that the policies deliver measurable impact across innovation, trade, and job creation.

The LCCI also offered its resources to provide required support towards the effective implementation of these reforms through robust private sector engagement and continuous policy advocacy.

The LCCI’s endorsement signals strong private sector confidence in the Federal Government’s strategy for the digital economy.