The Federal Executive Council (FEC) has approved four key policy initiatives aimed at boosting Nigeria’s intellectual property protection, digital trade, and service export capacity as part of efforts to diversify the economy.
The policies, presented by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, include the National Intellectual Property Policy and Strategy (NIPPS), ratification of the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade, establishment of a National Coordination Mechanism for Services Exports led by the National Talent Export Programme (NATEP), and implementation of the Product Authentication and Tracking System (PATS).
According to Oduwole, the approvals reflect President Bola Ahmed Tinubu’s Renewed Hope Agenda to modernise Nigeria’s industrial framework, attract investment, and position the country as a hub for innovation and knowledge-driven growth.
The NIPPS, developed with support from the World Intellectual Property Organisation (WIPO), links innovators, creators, researchers, and investors to commercialise intellectual property as tradable assets. It is expected to make Nigeria a regional hub for intellectual property protection in West and Central Africa.
The ratification of the AfCFTA Protocol on Digital Trade provides a continent-wide legal framework for e-commerce, data governance, cybersecurity, and digital consumer protection. Oduwole said the move would allow Nigeria to shape rules guiding cross-border data flows, digital taxation, and services, opening access to Africa’s $3.4 trillion digital market.
To promote service exports, FEC also approved the creation of a National Coordination Mechanism to unify programmes such as the 3 Million Tech Talent (3MTT) initiative, Outsource to Nigeria Initiative (OTNI), and TechPro4Europe.
By 2030, the mechanism is projected to create one million jobs, add $10 billion to GDP annually, train 10 million Nigerians, and attract $15 billion in investment into digital and creative industries.
Oduwole described the approvals as a milestone in driving forward-thinking reforms that align with the President’s vision of a modern, inclusive, and diversified economy.
