FG Tasks Digital Invoicing Committee on Affordable Working Capital
Dike Onwuamaeze The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has tasked members of the newly inaugurated steering committee of the National Digital Invoicing and Financial Optimisation Strategy
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has tasked the newly formed steering committee of the National Digital Invoicing and Financial Optimisation Strategy (NDIFS) to transform Nigeria's receivables-finance corridor into affordable working capital for key stakeholders such as exporters, manufacturers, and agro-processors.
The committee, co-chaired by Aig-Imoukhuede and Dr. Zaach Adedeji, was established following President Bola Ahmed Tinubu's approval of the NDIFS and the creation of this committee. During the committee's inaugural meeting in Abuja, Oduwole emphasized the importance of addressing cash constraints faced by SMEs, which could hinder their production and export capabilities.
She explained that if NDIFS ends with digitized compliance but leaves businesses cash-starved, it would merely have achieved compliance without transforming enterprises. Oduwole urged the committee to deliver a disciplined execution of the strategy, with a focus on six integrated pillars and a phased implementation roadmap. She highlighted four essential rails for the operation of NDIFS: trusted digital, sound legal, financial, and market rails.
To ensure the success of the committee, Oduwole suggested five disciplines: designing for financeability, building interoperability, protecting trust, starting with real transactions, and assigning clear ownership and timelines to every action.
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