E-Business
LCCI DG says New e-commerce Group will Ensure Conducive Policy, Regulatory Environment
By Adedoyin Giwa
From improving sales volume, to facilitating automated processes in business transactions and the application of new technology, there’s no disputing the fact that ecommerce is opening up the Nigerian economy at an impressive rate.
Thriving on a digital economy platform, ecommerce boasts an incredible level of cost-efficiency of connecting sellers with buyers, which makes it a potent tool for business growth, especially for SMEs.
Interestingly, the unfolding relevance and inherent benefit of the ecommerce ecosystem is beginning to attract the interest of relevant stakeholders.
Recently, CBN Governor, Godwin Emiefiele stated that the digital space and its accompanying economic activities will further open up the Nigerian economy, drive financial inclusion and create more jobs.
According to Emiefiele, the impact is obvious for all to see, as the regulatory framework put in place by the apex bank has opened up the digital space for innovation in the Payment Service System thus driving financial inclusion and employment creation.
Few weeks after Emiefile’s comments, the Lagos Chamber of Commerce and Industry, (LCCI) announced the inauguration of an ecommerce sectoral group under its banner in conjunction with Jumia and other ecommerce players.
Among other things, the group is expected to support the development of private enterprises in various sectors of the Nigerian economy by exposing their products to a larger market.
Lagos Chamber of Commerce and Industry was established for the promotion and protection of Trade and Industry, and to represent and express the opinion of the business community on matters affecting trade and industry in Lagos, and by extension Nigeria.
Speaking on the essence of the ecommerce group, Dr. Muda Yusuf, Director General of Lagos Chamber of Commerce and Industry, explained that the pivotal role taken up by digital platforms in the Nigerian economy in recent times, necessitated the formation of the group.
“Digital platforms have been playing a major role in the issue of trade and commerce in the country, so this informed the formation of the ecommerce group in LCCI,” he stated.
The ultimate goal is to achieve a robust digital economy that will work to the benefit of all stakeholders.
On this front, the DG stated that the group will work towards attainment of a more conducive policy and regulatory environment needed for the industry to thrive for the benefit of all stakeholders.
“The beneficiaries are all the investors in that space; the government and the entire players in the economy because the whole idea is to ensure that we create a better policy and regulatory environment for that segment of the economy to thrive, grow and contribute a lot more to the Nigerian economy.”
While working with key players in the ecommerce industry was a masterstroke by LCCI, the appointment of the group Chairman was a well thought out process. At the inauguration of the group, Jumia Chairwoman and Head of Institutional Affairs, Juliet Anammah was appointed Chairman to lead the group activities.
Commenting on the appointment, Yusuf said the group felt that Juliet with her wealth of experience and position in the industry, is best suited to drive the affairs of the group towards attainment of its objectives.
“The choice was informed by the fact that she’s the chair of a major player in the industry, Jumia is a major player in the ecommerce space. And we felt that such a person is best positioned to drive this initiative by LCCI,” he stated.
The ecommerce space is gaining more relevance in Nigeria. The recent attention by stakeholders to the sector is a welcome development, and if properly managed and given adequate policy cum legislative support, will go a long way in improving the country’s economic fortunes.
Adedoyin Giwa works with PR Redline in Lagos
The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.
The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.
Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.
“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.
With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.
Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.
On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.
In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.
The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.
Federal government has plans to expand the national social register to 18.1 million names and to reach at least 70 million poor households across the country by the end of this year, according to Prof Nentawe Goshwe Yilwatda, minister, Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD).
Federal government has been distributing cash assistance to poor citizens through a program that requires verification using the National Identification Number (NIN).
The rate of poverty in the country is alarming, the minister said in an interview with Arise News, reason why the federal government plans to extend the humanitarian outreach program to target more homes. Each household receives the sum of N75,000 ($45).
Giving update on the payments, the minister said the first tranche of the conditional cash transfers were paid to five million households between October and December 2024, while the second and third tranches were paid to 2.8 million households.
“The president has directed, based on CBN’s new regulations, that before any payment is made to an individual or household, they must have a digital identity we can trace. That is the NIN number,” the Yilwatda told Arise News.
The cash transfer enabled by digital ID was launched in 2023, and last year, the federal government said around 25 million Nigerians had already benefitted from the scheme.
National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).
The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.
The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.
The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.
According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.
He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.
Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.
Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.
Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.
Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.
She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.
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