The Minister of Communications and Digital Economy, Prof Isa Pantami, has officially established the National Committee responsible for implementing Nigeria’s National Blockchain Policy. This move comes as the Federal Government aims to drive the adoption and utilization of emerging technologies in the country. The committee consists of representatives from 29 institutions spanning the public and private sectors, including academia.
In a ceremony held in Abuja, the graduation of 32,022 Nigerians from the Federal Government’s Blockchain Technology training program was also celebrated. This training initiative was designed to equip citizens with the necessary skills to support the implementation of the National Blockchain Policy. The policy itself was approved by President Muhammadu Buhari on May 3, who subsequently directed relevant regulatory bodies to develop instruments to govern the deployment of blockchain technology across various sectors of the economy. These regulatory bodies include the National Information Technology Development Agency, the Central Bank of Nigeria, the National Universities Commission, the Securities and Exchange Commission, and the Nigerian Communications Commission.
Minister Pantami emphasized that the Blockchain policy is a vital component of the National Digital Economy Policy and Strategy for a Digital Nigeria. It is aligned with the seventh pillar of this strategy, which focuses on “Digital Society & Emerging Technologies.” The minister also highlighted the importance of technology to the nation’s digital economy drive, particularly in the context of the fourth industrial revolution.
The fourth industrial revolution encompasses disruptive technologies such as Blockchain, Artificial Intelligence (AI), Robotics, Cloud & Quantum Computing, Virtual & Augmented Reality, Autonomous Vehicles, Biotechnology, 5G, and Cybersecurity. Nigeria is actively participating in this revolution and aims to leverage these technologies for economic growth, improved government services, job creation, innovation, and citizen engagement.
The successful implementation of the National Blockchain Policy will provide a comprehensive framework for integrating the technology into various sectors of the economy. This will foster the growth of indigenous talent in Blockchain Technology, promote innovation, and enhance public trust in governance. The policy is expected to address crucial issues related to governance, security, interoperability, regulatory compliance, accountability, and transparency.
This latest development brings the number of policies initiated and implemented under Minister Pantami’s leadership to 21. The establishment of the National Blockchain Policy and the accompanying committee underscores the government’s commitment to fostering a robust and globally competitive ecosystem in Nigeria’s emerging technology sector.
This move aligns with the government’s broader agenda to drive digital transformation, promote innovation, and position the country as a key player in the fourth industrial revolution.