FG Unveils National Blockchain Policy, Inaugurates Steering Committee

Newsbeat Editor May 17, 2023

0 112 1 minute read

Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami has launched the National Blockchain Policy.

The Minister also inaugurated the National Blockchain Implementation and Steering Committee.

Head, Corporate Affairs and External Relations of NITDA, Hadiza Umar, said in a statement, said that as Nigeria moves into a more technology-driven world, Blockchain has emerged as a transformative force that offers unique benefits to various sectors.

She disclosed that the National Blockchain Policy for Nigeria has identified talent development, innovation, and adoption as the key areas to harness the potential of Blockchain Technology in Nigeria.

“The Policy aims to grow domestic talent in Blockchain solutions development, foster innovation, and catalyse the adoption and use of Blockchain Technology,” she said.

Umar stated that the National Information Technology Development Agency (NITDA) has been at the forefront of driving and facilitating the spread and use of blockchain technology, through its various activities including capacity development, and awareness carried out during the Blockchain Day at the Digital Nigeria Day celebration, in October 2022.

According to her, the Agency trained over 30,000 young Nigerians in the field of Blockchain for the development of a skilled and knowledgeable workforce in the industry, noting that this will equip the Nigerian youths with the ability to utilise Blockchain Technology in developing innovative solutions for National challenges.

She said that it was in keeping with this trajectory that the Federal Executive Council (FEC) approved the National Blockchain Policy for Nigeria on 3rd May 2023 to ensure that Nigerians benefit from the potential of Blockchain technology while ensuring responsible use and avoiding its perils.

ALSO READ NCC Cautions Against Sale, Use Of Non-Type Approved Devices

The implementation of the National Blockchain Policy for Nigeria would provide the following benefits among others to the Country:

Improve Transparency and Accountability in different sectors of the Digital Economy
Increase Efficiency in various adoption areas
Enhance Security in transactions
Increase Financial Inclusion in Nigeria
Create significant job opportunities across different sectors of the Digital Economy.