Spread the news

 Federal Government has disclosed that the current e-commerce spending in Nigeria is estimated at $13billion yearly.
The Permanent Secretary in the Federal Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige
who stated this in Abuja at the Second National E-commerce Roundtable Session in Nigeria, said e-commerce is projected to rise to about $75billion in revenue per annum by 2025.
Ngige, represented by the Director, Commodities and Export Department in the Ministry, Mr. Suleiman Audu, said e-commerce has grown from 14% in 2019 to 17% in 2020, adding that the COVID-19 pandemic has turned global attention to the importance of e-commerce in the conduct of businesses.
She, therefore, said her ministry was passionate about the growing Investment opportunities in the e-commerce value chain, which are capable of contributing significantly to the country’s Gross Domestic Product(GDP).
She added that e-commerce provides an alternative to sustain businesses and preserve millions of jobs in the face of COVID-19 pandemic.
The permanent Secretary further noted that the benefits of e-commerce to the nation’s economy, Ngige said: “This encouraging trend has attracted the entrance of payment providers into e-commerce market.
According to her, “In addition, the demand for electronic transactions has attracted payment  facilitators from Europe and Asia, who are now investing in Nigerian electronic infrastructure projects.”
She further pointed out that the event would provide opportunity for critical stakeholders to develop strategic framework that would improve the performance of the e-commerce sub-sector in the country.
She noted that the Federal Ministry of Industry Trade and Investment has prioritised e-commerce as a major programme that would play a critical role in the promotion of commodity trade especially, with the current realities of the unprecedented global pandemic.
In view of the cross-cutting nature of e-commerce, Ngige said her ministry was open to collaborate with any organisation that would support the development of the e–commerce ecosystem in Nigeria.
She also expressed optimism that the stakeholders engagement would provide a new frontier for e–commerce businesses to thrive in Nigeria as a tool for the diversification of the nation’s economy.
In his remarks, the Director, Commodities and Export Department CED, in the Federal Ministry of Industry,Trade and Investment, Mr. Suleiman Audu underscored the need to support government’s efforts to develop the economy, reduce over-dependence on the oil sector by focusing on the development of non-oil commodity sector to enhance productivity, create jobs and ensure sustainability in revenue generation.
Audu was represented by Deputy Director, CED, Mr. Kaura Irimiya
said one of the thriving and promising markets globally is the e-commerce market, with estimated global sales of over $29 trillion.
He lamented that in spite of the growing opportunities in the e-commerce, Nigeria has not been able to explore it’s enormous potential.
“This could be largely due to inadequate investments in the e–commerce value chain, coupled with inadequate information on the opportunities in the sector and the inability of government to provide the required enabling environment,” he explained.
Audu said the deliberations and far-reaching recommendations of the stakeholders engagement would guide policymakers, regulators and other players in the e–commerce ecosystem in line with international best practices.

FOR INFORMATIONAL PURPOSES ONLY. The content of this Website is made available by the Nigerian Pilot Newspaper Publisher. This Website seeks to facilitate the dissemination of informative, with engaging, and constructive news about events in Nigerian, Africa, and Globally as they happen. The “Distributor” of this Information are the Nigerian Pilot Newspaper and Nigerian Pilot Tv brands of Dom Communication, LLC.

DISCLAIMER: FAKE NEWS PUBLICATION. This Website NigPilot collects information from several Independent Reporters and may contain unauthenticated and/or copyrighted materials the utilization of which has not generally been explicitly approved or authorized by the copyright proprietor. NigPilot with concern to increase in misleading social media publications, please report any Fake, False, or Misleading News to info@nigpilot.ng for immediate action.

FAIR USE NOTICE. In accordance with THE LAW, the material on this Website is included for informational and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond “fair use,” you must obtain permission from the copyright owner or Nigerian Pilot WEBMASTER. For Nigerian Pilot Newspaper Advert Rates Click Here!

The post e-commerce spending in Nigeria stood at $13bn -FG -NigPilot appeared first on The Nigerian Pilot News.

Click to rate this post!
[Total: 0 Average: 0]

Spread the news
CONTACT US : support@melodyinter.com
Previous article3.7m jobs in offing as FG launches youth employment plan -NigPilot
Next articleWhy’s my chicken and egg so expensive? Blame it on their feed and rearing charges, say farmers’ group


Please enter your comment!
Please enter your name here