Policy Brief & Alerts

The global trade ecosystem is undergoing a profound transformation characterised by rising protectionism, disruption, and strategic realignment of global supply chains, as well as the weakening of multilateral institutions. Central to this policy shift is the resurgence of the United States “America First” trade policy advanced by the current U.S. administration. The April 2nd announcement by President Donald Trump saw every single country assigned a new, higher tariff rate, as every product imported into the U.S. will be charged an extra 10% tariff. While most of the U.S. trading partners will pay 10% tariffs, most countries were assigned even higher “reciprocal” rates. However, a dramatic change of policy occurred when the U.S. administration announced that countries that had not retaliated against the tariff would receive a reprieve and only face a blanket U.S. tariff of 10% until July 2025. These measures intensify Trump’s “America First” trade policy and signal a decisive shift toward deeper protectionism, reshoring, and economic nationalism

Data governance refers to the technical, policy and regulatory frameworks designed for the management, processing, and security of data in the digital ecosystem. With effective data governance in place, data availability, reliability, and consistency are guaranteed. Given its potential as the resource that drives global digitalisation and economic development, data is figuratively described as “the new oil”, which must be strategically commoditised for value to be derived from it. The commoditisation of data necessitates a reliable data governance to make it retain its value as an invaluable asset, enabling it to drive innovation, boost economic growth, and foster societal development. In addition, effective data governance mechanisms are expected to integrate safeguards against data-related harms/threats that may result from the usage and processing of data.

Key messages
• Nigeria's exports are recovering from the COVID-19 crisis, but they remain heavily
reliant on raw products, particularly oil and gas, which account for over 80% of export
earnings.
• The country faces challenges in trade competitiveness, including low product
diversification, limited value addition, and inefficiencies in logistics and
infrastructure.
• Stabilizing the national currency and broadening the tax base are crucial for
improving Nigeria’s macroeconomic environment and reducing vulnerability to external
shocks.
• Simplifying trade procedures, improving road quality, and expanding shipping and
logistics services can ease the movement of goods and lower business costs.

AUTHORS

Anthony Okon; Chukwuka Onyekwena ; Bilkis Ceesay and Isatou Jallow 
 

This policy brief was prepared by the participants during a training on Trade Competitiveness and Regional Value Chain Analysis, held in Banjul (The Gambia) from 23 to 27 September 2024.

In Africa, the digital economy, which refers to all economic activities facilitated by digital technologies and big data, is booming. This is a result of digital technology’s capability to transform economies and societies, influencing how we work, live, and interact. Africa’s digital economy is a boost to the continent’s economy. International Finance Corporation (2020) reveals that Africa’s digital economy grew from $100 billion to $115 billion, representing a 15% increase between 2019 and 2020. It further projects that Africa’s digital economy has the potential to contribute $180 billion and $712 billion to the continent’s gross domestic product (GDP) by 2025 and 2050, respectively.

The role of data, in the public and private sectors, is central to informing strategy, shaping decision and policy-making, creating value, driving innovation, sustaining profit-making and promoting economic development.

This Brief was written by Kunle Balogun

Public procurement is an important component of governance, as it comprises purchases by a government to ensure quality and efficient public service delivery. The public procurement process requires technical competence in various areas, including financial, legal, administrative, sector-specific knowledge, and an understanding of local and global supply chains from where the public goods and services will be sourced. In this regard, the human resource system and skill development programs, often referred to as human development, are part of extensive public procurement reforms. Appiah (2011) argued that the effective application of procurement regulations requires a well-trained workforce, and human resource development initiatives must be periodic and consistent, given the constant evolution in the budgeting system or political and economic environments.

Read more via  Brookings