POLITICAL Economy

Tinubu Unveils Plans To Build Nigeria’s Digital Economy

by admin on | 2026-09-18 12:11:35

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Tinubu Unveils Plans To Build Nigeria’s Digital Economy

By Ahmad Sirajo Makama 

President Bola Ahmed Tinubu has declared his administration’s determination to make Nigeria a global hub for technology, finance and service companies, saying the next generation of African enterprises should be built, headquartered and scaled to the world from Nigerian soil.

The President stated this as his administration moved Nigeria’s Digital Free Zones initiative into the implementation phase, aimed at attracting global investment, creating jobs and enabling Nigerian businesses to compete internationally.

President Tinubu said the administration’s ambition transcends developing technology parks, as it seeks to position Nigeria as a base where African companies can be incorporated, financed and governed while serving markets across the continent and beyond.

He added that the initiative is also intended to create opportunities for young Nigerians in Kano, Enugu, Warri, Minna, Maiduguri, Ibadan and other parts of the country to work for global companies without having to leave their communities.

The President emphasised that the initiative is designed to make it easier for Nigerian technology and service companies to access global capital, employ Nigerians and serve international markets without relocating their businesses or intellectual property abroad.

In a statement issued on Thursday by his Spokesperson, Mr Bayo Onanuga, President Tinubu highlighted that Nigeria possesses the talent, enterprise and ambition to build companies capable of competing globally, he highlighted that government has the responsibility of creating an environment where Nigerians can realise their potential without leaving the country.

The Nigerian Leader added that the initiative would further create opportunities for more young Nigerians to work for global companies from within the country, while strengthening the domestic ecosystem of engineers, developers, designers, lawyers, accountants and other professionals supporting digital businesses.

He explained that the administration wants more of the economic value created by Nigerian talent to remain within the country through jobs, investments, professional services, intellectual property and the growth of Nigerian businesses.

In addition, the President directed the Minister of Trade and Investment, Dr Jumoke Oduwole, in her capacity as Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones, to work with the Itana Innovation project and the Committee to develop a roadmap for the full launch of the initiative within 180 days.

President Tinubu, who chairs the Presidential Steering Committee on Digital Free Zones, said the initiative is part of efforts to modernise Nigeria’s free zone framework, established more than three decades ago, to meet the demands of the digital economy.

The President noted that many promising Nigerian entrepreneurs over the years were compelled to establish their companies and intellectual property abroad to gain access to global capital and markets, a trend the administration intends to reverse.

The initiative is already taking shape through Itana, Nigeria’s first Digital Free Zone, licensed by the Nigeria Export Processing Zones Authority, NEPZA, to provide a platform for global and pan-African digital and service businesses to establish and operate from Nigeria.

The Africa Finance Corporation is backing the 500-million-dollar Itana Innovation project at Alaro City, Lagos, which will combine an enabling policy environment with an innovation campus, access to capital and other services aimed at helping African start-ups grow at scale.

The Presidential Steering Committee is expected to continue work across regulation, taxation, banking, immigration, arbitration and the digitisation of government processes within Nigeria’s free zones.

President Tinubu said the initiative would further position Nigeria to benefit from the rapid expansion of Africa’s digital economy and digitally enabled trade under the African Continental Free Trade Area.

He reaffirmed the administration’s commitment to transforming economic reforms into tangible opportunities for Nigerians, particularly through jobs, investment and the growth of globally competitive businesses.