National Blockchain Policy Launch
NCC
Federal Government Launches National Policy on Blockchain Technology for Nigeria, Inaugurates Implementation and Steering Committee, Graduates 32,022 Nigerians.
In a significant move towards technological advancement and economic growth, Nigeria’s Minister of Communications & Digital Economy, Professor Isa Ali Ibrahim (Pantami), has launched the National Committee for the implementation of the National Blockchain Policy. This momentous event took place on Tuesday, 16th May 2023, following the approval and directive of President Muhammadu Buhari at the Federal Executive Council Meeting held on Wednesday, 3rd May 2023.
President Buhari, recognizing the transformative potential of blockchain technology, directed several regulatory bodies, including the National Information Technology Development Agency (NITDA), the Central Bank of Nigeria (CBN), the National Universities Commission (NUC), the Securities and Exchange Commission (SEC), and the Nigerian Communications Commission (NCC), to develop regulatory instruments for the deployment of blockchain technology across various sectors of the economy. The President further urged all relevant government agencies and stakeholders to swiftly implement the policy, with the goal of creating a blockchain-powered economy that fosters innovation, growth, and prosperity for all Nigerians.
The National Blockchain Policy, spearheaded by Professor Pantami, aligns with President Buhari’s agenda of economic diversification and aims to strengthen Nigeria’s digital economy. It serves as a comprehensive roadmap for the country’s adoption and utilization of this emerging technology.
The successful implementation of the policy will have far-reaching effects on the Nigerian economy. By integrating blockchain technology into various sectors, the policy will nurture local talent in blockchain solution development, fostering a robust and globally competitive ecosystem. It will address critical issues such as governance, security, interoperability, regulatory compliance, accountability, and transparency. The widespread adoption of blockchain technology will fuel innovation, improve government services, generate job opportunities, drive economic growth, enhance public trust in governance, and promote citizen engagement.
The National Committee responsible for implementing the policy comprises twenty-nine institutions from the public and private sectors, including academia. This diverse membership ensures a broad range of perspectives and expertise to guide the effective integration of blockchain technology across Nigeria.
In a parallel effort to equip Nigerian citizens with the necessary skills to drive the implementation of the policy, the Federal Government organized a Blockchain Technology training program. The training was a resounding success, with a staggering thirty-two thousand and twenty-two Nigerians graduating from the program. The graduation ceremony, held as a hybrid event, was attended by high-ranking government officials, industry leaders, and innovators.
With the introduction of the National Policy on Blockchain Technology for Nigeria, Professor Pantami has now overseen the development of twenty-one policies aimed at driving Nigeria’s technological advancement and economic growth. His visionary leadership and commitment to digital transformation have laid a solid foundation for the country’s future prosperity.
As Nigeria embraces blockchain technology, it joins the ranks of forward-thinking nations leveraging this transformative innovation to propel their economies forward. With the support of the government, regulatory bodies, and a highly skilled workforce, Nigeria is poised to become a hub for blockchain development and adoption in Africa.
The launch of the National Blockchain Policy marks a significant milestone in Nigeria’s journey towards a digital future. It symbolizes the nation’s determination to harness the potential of blockchain technology for the benefit of its citizens, the economy, and the broader society. As the policy takes root and blockchain applications become increasingly integrated into the fabric of Nigerian society, the country is poised to thrive in the global digital landscape.
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