National Blockchain Policy approved by the Nigerian Government

The National Blockchain Policy has been given a positive response by the Federal Government under President Muhammadu Buhari’s administration.

The Minister of Communications and Digital Economy, Prof Isa Pantami, made this known after the week’s Federal Executive Council meeting in Abuja.

Pantami said the new policy was a product of consultations with 56 institutions and personalities whose end goal is to institutionalize blockchain technology in Nigeria’s economy and security sectors.

He noted that the Security Council has directed regulatory bodies to liaise with the National Information Technology Development Agency to come up with regulatory instruments in all sectors.⁣

Wednesday’s approval underlines the potential opportunities of blockchain technology even as studies predict that blockchain would add $1.76tn to the global GDP by 2030.⁣

The establishment of a national steering council to be coordinated by NITDA is also part of the approval.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: