Nigeria is making significant strides in the field of blockchain technology with the restructuring of the National Blockchain Policy Steering Committee (NBPSC) by the National Information Technology Development Agency (NITDA).
The NBPSC’s restructuring, announced by NITDA’s Director-General Kashifu Inuwa, aims to develop a comprehensive strategy for effectively implementing the National Blockchain Policy. Kashifu has been actively leading this initiative with great effort and commitment.
The process of reassessing the policies guiding the implementation of the Nigeria Blockchain Technology Policy commenced on July 17 and is expected to last for three days. This is a crucial step in Nigeria’s blockchain journey as it aspires to take a leading position in African blockchain development.
The National Blockchain Policy Steering Committee will focus on identifying and leveraging the expertise of experienced professionals and renowned thought leaders in the blockchain industry to develop a strategy that ensures the successful implementation of the National Blockchain Policy.
Since its approval in May 2023, the National Blockchain Policy has been widely celebrated as a game-changer in the Nigerian blockchain and fintech sectors. It aims to develop a blockchain-driven economic framework that facilitates trusted transactions, seamless data sharing, and efficient value exchange across individuals, businesses, and government agencies.
The reassessment of the National Blockchain Policy will expand its scope to include other sectors such as land registration, healthcare, and education, with potential far-reaching impacts on Nigeria’s public and private sectors, creating a more conducive environment for businesses to thrive.
The Nigerian government has demonstrated a keen interest in blockchain technology with several initiatives aimed at promoting its adoption and implementation. One such project is the establishment of specialized research hubs dedicated to cutting-edge technologies like blockchain and artificial intelligence across Nigeria’s six geopolitical zones.
Additionally, NITDA plans to develop a homegrown blockchain ecosystem known as “Nigerium” to maintain data control and strengthen national security. However, stakeholders have stressed the need to leverage indigenous talent, address fundamental infrastructure and policy obstacles, and ensure a truly homegrown solution for the project’s success.
Under the leadership of Kashifu Halilu, the Nigerian government is committed to promoting the adoption and implementation of blockchain technology in the country by supporting the National Blockchain Policy Steering Committee.
