In a groundbreaking move, the Nigerian government has officially approved the use of blockchain technology across the country.
The announcement was made by the Federal Executive Council following the approval of the National Policy on Blockchain by the Federal Ministry of Communications and Digital Economy.
The policy will provide the necessary regulatory frameworks for the adoption of blockchain technology in various sectors of the economy.
It is expected that relevant agencies will now develop appropriate usage and regulatory frameworks to ensure the smooth implementation of the policy.
To oversee the implementation of the new National Policy on Blockchain, a Steering Committee has been established, which will be led by the National Information Technology Development Agency (NITDA) and include all relevant government agencies.
The committee will work towards ensuring the effective integration of blockchain technology into the country’s economy.
According to HM Isa Pantami, the Federal Minister of Communications and Digital Economy, this latest policy is the 23rd National Policy developed by the Ministry, highlighting the government’s commitment to advancing the country’s digital economy.
The adoption of blockchain technology in Nigeria is expected to have a significant impact on the country’s economy, particularly in sectors such as finance, healthcare, and agriculture.
With this new policy in place, Nigeria is poised to become a leader in blockchain adoption and innovation on the African continent.
