The Federal Government has inaugurated the Steering Committee for the National Digital Invoicing and Financial Optimisation Strategy (NDIFS), with Minister of Industry, Trade and Investment, Jumoke Oduwole, emphasizing the need to establish a national corridor that can transform verified invoices into affordable working capital.
Approved by President Bola Tinubu, the strategy aims to move beyond digitising compliance to tackle cash-flow constraints faced by businesses, particularly small and medium-sized enterprises (SMEs). Oduwole noted that delayed cash conversion hampers production, weakens suppliers, and limits export opportunities.
She explained that the NDIFS seeks to create a “national receivables-finance corridor” supported by four interconnected components: a trusted digital rail for authentic invoices, a legal framework ensuring enforceability and collateral certainty, a financing rail involving banks and fintechs, and a market rail comprising exporters, manufacturers, and supplier networks.
The committee’s draft terms of reference include advising on direction and sequencing, reviewing the implementation roadmap, identifying policy and regulatory measures, promoting institutional alignment, managing delivery risks, and supporting stakeholder engagement.
Oduwole directed the secretariat to design a controlled 90-day pilot involving selected exporters and value chains, with measurable outcomes. She stressed that success must be assessed by tangible economic results such as verified receivables, financing unlocked, SME participation, and improvements in production and export performance.
