The FG has approved the National Blockchain Policy.
The National Blockchain Policy was approved by the Federal Government of Nigeria on Wednesday in Abuja.
This was revealed following this week’s Federal Executive Council meeting, which was presided over by President Major General Muhammadu Buhari (retd.) at the State House in Abuja. The Minister of Communications and Digital Economy is Prof. Isa Pantami.
The new policy, according to Pantami, is the result of discussions with 56 institutions and individuals with a view to institutionalizing blockchain technology in Nigeria’s security and economic sectors. The national blockchain policy for Nigeria was adopted today by the Federal Government of Nigeria.
This policy was developed after collaboration with our stakeholders, and 56 institutions and individuals took part in its conceptualization, development, and review.
?”With the approval of the national blockchain policy for Nigeria today, we can safely say that blockchain technology with all of its components and types have been institutionalized in the country,” the Minister said.
He mentioned that the National Information Technology Development Agency has been instructed to work with regulatory authorities to develop regulatory instruments in all areas by the Security Council.
The clearance on Wednesday highlights the potential benefits of blockchain technology even though studies estimate that by 2030, blockchain would increase the global GDP by $1.76 trillion.? ?
The decision also includes the creation of a national steering council that will be managed by NITDA.
