The National Information Technology Development Agency (NITDA) is set to join forces with the World Bank and World Trade Organization (WTO) to improve digital trade and cross-border data services in the country.
Disclosing this in a statement, NITDA’s Director General, Mal. Kashifu Inuwa noted that the collaboration aims to leverage technology for economic growth and diversification, aligning with the government’s priorities.
According to him, a key focus of the partnership is developing a robust regulatory framework. NITDA is streamlining existing regulations and establishing a National Public Key Infrastructure (PKI) to secure electronic signatures. Additionally, a comprehensive digital economy bill is in the works, encompassing the electronic signature framework and other regulations.
Recognizing the potential of blockchain technology, NITDA is crafting a broader policy focused on smart contracts. This will enhance the security and efficiency of digital transactions.
Nigeria’s Data Strategy aims to strike a balance between data protection and open data access. This will foster innovation and data-driven decision-making across the country.
NITDA welcomes collaboration with individuals, organizations, and experts to refine and implement these initiatives. This collaborative approach will optimize Nigeria’s digital landscape.
The World Bank is actively involved, conducting a digital trade regulatory gap analysis and offering support to propel digital trade and cross-border data services in Nigeria.
Speaking earlier on behalf of the delegation from the World Bank and the World Trade Organisation, Mr. Aleksandar Stojanov shared their initial findings from the digital trade regulatory gap analysis conducted by the World Bank on the continent, particularly in Nigeria and how regulations can play a critical role in enhancing it.
He however gave assurances of the World Bank’s eagerness to collaborate and support NITDA in propelling digital trade and cross-border data services.
Overall, this partnership signals Nigeria’s commitment to harnessing the power of digital technologies for a more robust and diversified economy.