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.

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Highlights

1) Mobilising diverse climate finance resources and investments to support Africa’s energy transition will address the continent’s energy access challenges.
2) Sustainable governance is critical to driving climate policy initiatives and projects, which cost approximately $2.8 trillion from 2020 to 2030. Furthermore, there is a $200-$400 billion climate funding gap in Africa from feasible debt swaps with the continent losing up to 15 per cent of its GDP per capita annually to climate change.
3) Infrastructure governance can drive innovation and climate action, potentially unlocking significant climate finance and investments for Africa’s energy transition.
4)  A set of crucial policy considerations for unlocking finance climate goals sustainably. A series of vital policy considerations, including the establishment of robust legal regulatory frameworks, are essential for achieving climate goals and unlocking sustainable finance.

Authors: Oluseyi Aladesanmi, Evelyn Dan Epelle, Priscilla Airohi-Alikor

Artificial Intelligence (AI) is transforming industries, governance, and societies, offering immense benefits in efficiency and economic growth. Although AI continues to impact various sectors globally by driving innovation, it also raises complex regulatory challenges. The rapid advancement of AI raises significant ethical, social, and economic risks, including data privacy violations, job displacement, and bias in decision-making. Thus, there is an urgent need for effective AI regulation as governments and international bodies grapple with balancing innovation with safeguards to protect individuals and society.

Authors: Uche Anyamele Ph.D, Tikristini Olawale and Onyinye Onuh