The Federal Executive Council (FEC) has approved three major policy frameworks aimed at accelerating Nigeria’s transition into a digital, innovation-driven and globally competitive economy. The approval marks a strategic step in the Federal Government’s efforts to diversify the nation’s economic base beyond oil and strengthen the country’s position in emerging global markets.
According to a statement issued by the State House over the weekend, the new policies were presented by the Minister of Industry, Trade and Investment, Jumoke Oduwole, and are aligned with President Bola Tinubu’s Renewed Hope Agenda for sustainable economic expansion and inclusive growth.
The policies focus on three key areas:
- Strengthening Nigeria’s Intellectual Property System – to protect innovators, creators and investors, while fostering commercialization of research outputs and creative works.
- Unlocking Opportunities in Digital Trade – by establishing a regulatory environment that enables secure, accessible, and borderless digital transactions across sectors.
- Expanding Nigeria’s Services Export Capabilities – to increase the country’s participation in the global knowledge economy, particularly in technology, finance, creative industries, outsourcing and professional services.
In the statement, the State House noted that the policy initiatives are expected to open new pathways for job creation, foreign exchange earnings and private sector investment.
“The policies are designed to strengthen Nigeria’s intellectual property ecosystem, unlock opportunities in digital trade, and expand the country’s footprint in the global services export market,” the statement said.
The move comes at a time when digital trade and knowledge-based services are among the fastest-growing contributors to global GDP, with developing economies tapping into technology-enabled export markets to boost revenue and drive innovation.
Analysts say the successful implementation of the approved policies will require coordinated collaboration between government agencies, the private sector, and international partners. However, with Nigeria’s expanding tech ecosystem and its growing population of young digital talent, the country is positioned to benefit significantly from the renewed focus on innovation-led growth.
