Nigeria has begun reassessing its blockchain technology policy, aiming to strengthen its position as a leader in African blockchain development.
On July 17, Chimesie Chuta, Chairman of the steering committee, announced via X (formerly Twitter) that the committee has started its review of the National Blockchain Policy.
Updating the Blockchain Policy
The National Information Technology Development Agency (NITDA) restructured the National Blockchain Policy Steering Committee (NBPSC) on May 21 during a three–day workshop in Abuja. This workshop was aimed at re-evaluating and improving the regulatory framework for Nigeria’s blockchain strategy.
Kashifu Inuwa, NITDA’s Director–General, noted that the committee’s new structure will leverage the expertise of blockchain professionals and thought leaders. Their input is expected to be crucial in shaping a comprehensive strategy for implementing the National Blockchain Policy.
The review seeks to incorporate the latest technologies and adapt to changing economic conditions. It will broaden the policy’s scope to include sectors like land registration, healthcare, and education, with the goal of benefiting both the public and private sectors in Nigeria.
Summary Review: Nigeria’s review of its blockchain technology policy marks a significant step toward enhancing its role in African blockchain development. By reassessing and updating the National Blockchain Policy, Nigeria aims to integrate advanced technologies and adapt to evolving economic needs. The involvement of blockchain experts and thought leaders in this process will help ensure that the policy effectively addresses key areas such as land registration, healthcare, and education. This initiative is set to positively impact both the public and private sectors, reinforcing Nigeria’s commitment to being a leader in blockchain innovation.
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