Nigeria attracted attention at the public forum of the World Trade Organisation (WTO), when it showcased the ongoing Silicon Valley project.
With this, Nigeria, can reap the opportunities of digital trade which only require an adequate ecosystem, starting with good connectivity.
Other elements, such as skills, logistics and payments systems, and an enabling policy framework are very necessary.
Praises, applause and encomiums have been showered on the Digital Entrepreneurship Village ‘Silicon Valley’ project at the Public forum of World Trade Organisation (WTO), in Geneva, Switzerland.
Director General, WTO, Dr. Ngozi Okonjo-Iweala, expressed delight and excitement over the Silicon Valley project currently being built in Nigeria.
Okonjo-Iweala, commended the Governor of Ondo State, Oluwarotimi Akeredolu, for attracting such an impact focused project to his state.
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Digital Trade Grows At 8% Per Year
Describing digital trade as the future, Okonjo-Iweala said, digitally delivered service is the fastest growing segment of trade. It is growing at 8% per year, faster than growth in goods trade and even service trade.
She noted that reaping the opportunities of digital trade requires an adequate ecosystem, starting with good connectivity and encompassing other elements, such as sufficient skills, logistics and payments systems, and an enabling policy framework.
Okonjo-Iweala said climate change had the potential to shift comparative advantages and change the pattern of trade, particularly in sectors like agriculture.
Our Goal Is To Produce Resilient And Successful Entrepreneurs
President, Africa’s Young Entrepreneurs (A.Y.E), Dr. Summy Smart Francis, appreciated the WTO leadership and entire team for giving A.Y.E the opportunity to showcase the Entrepreneurship Village project to the world.
Also, Francis stated that the project’s overarching goal is to create an environment where entrepreneurs can learn, grow and thrive.
According to him, the project aims at producing resilient and successful entrepreneurs who will play a key role in eradicating poverty, creating jobs, driving economic development and addressing the many challenges facing Africa.
He explained that the entrepreneurship village project was a creative, innovation, technology and business green campus that provided a complete ecosystem for businesses, MSME’s and startups.
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“It aims to create an enabling environment for learning, leadership, lifestyle, and legacy.
“The primary objectives of the entrepreneurship village also aligns with the United Nations Sustainable Development Goals and the African Union Agenda 2063.
“This alignment involves developing human capital, fostering innovation and technology, promoting community development, creating employment, eradicating poverty, and nurturing entrepreneurship.
“Importantly, it places a special focus on empowering women, persons with disabilities and the fast-growing youth,” Francis said.
