Nigeria’s participation in the Digital Cooperation Organization (DCO) is expected to boost digital trade, innovation, and economic growth after the body unveiled its Model Digital Economy Agreement (MDEA) during its inaugural session.
The agreement, described as an interoperable rulebook for digital trade, covers 12 key policy areas, including cross-border data flows, e-transactions, cybersecurity, artificial intelligence, payments, and small business inclusion.
“If adopted and implemented, the MDEA can enable an estimated $2.1 billion in additional intra-DCO digital trade annually — just in digitally delivered services,” the DCO said in a statement on Monday.
The DCO, with headquarters in Riyadh, Saudi Arabia, has 16 member states spanning Africa, Asia, the Middle East, and Europe. Nigeria joined as a founding member in 2021. Officials say the framework will allow Nigerian fintechs, startups, and SMEs to scale across borders while attracting foreign investment into the country’s fast-growing tech ecosystem.
