The Federal Executive Council (FEC) has approved a set of major policy reforms designed to position Nigeria as a leading digital and knowledge-driven economy in Africa.
This was disclosed in a statement issued by the State House on Saturday.
According to the statement, the measures, presented by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, are aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda and aim to diversify the economy beyond oil dependence.
The statement noted that the reforms focus on strengthening the country’s intellectual property system, deepening participation in Africa’s digital market, and boosting Nigeria’s services export capacity.
One of the approved policies, the National Intellectual Property Policy and Strategy (NIPPS), is Nigeria’s first unified framework for protecting and commercialising intellectual property rights. The release noted that the policy seeks to “connect innovators, creators, and investors to turn ideas into economic assets, transforming creativity into capital.”
It added that the framework was developed with support from the World Intellectual Property Organisation (WIPO) and contributions from over 200 stakeholders, positioning Nigeria “as a regional hub for intellectual property and innovation in West and Central Africa.”
FEC also ratified the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade, which sets continent-wide standards for e-commerce, cybersecurity, data governance, and consumer protection. The statement described the move as one that “cements Nigeria’s leadership in shaping Africa’s digital economy,” enabling the country to shift “from participation to policy-shaping leadership in Africa’s $3.4 trillion single market.” This ratification is expected to create expanded opportunities for fintech firms, creative technology companies, and e-commerce platforms.
Additionally, the Council approved the National Coordination Mechanism for Services Exports, to be led by the National Talent Export Programme (NATEP). The initiative aims to strengthen Nigeria’s global competitiveness in professional and digital services, with an ambitious goal to “create one million new jobs and contribute $10 billion annually to GDP by 2030,” according to the release.
The statement emphasised that “collectively, these three reforms signal a bold new chapter in Nigeria’s economic transformation, where ideas, data, and talent drive growth, industrialisation, and sustainable prosperity.”
The reforms are expected to roll out in phases, with stakeholder engagement sessions planned across government agencies, industry players, and the creative and technology sectors.
