Nigeria plans to develop new blockchain policy, again

Bosun Tijani, Nigeria’s minister of communications and digital economy, has itemized the Nigerian government’s plans to develop a blockchain policy. 

According to him, the policy will provide a structural roadmap to drive blockchain adoption in the country. 

The details 

• In a white paper released by the Ministry of Communications, Innovation and Digital Economy and shared on social media by Tijani, the government hopes blockchain technology can advance financial inclusion and digital identity. 
• The ministry added that the proposed policy seeks to build on rather than discard the previous blockchain strategy put in place by the National Information Technology Development Agency (NITDA). 
• To identify 21 Nigerian-based researchers, the ministry employed data analysis enhanced by artificial intelligence (AI) and some human input. 
• It also asked for submissions from the public in suggesting more stakeholders in the Nigerian blockchain ecosystem to join its research efforts. 

Key quote 

• Tijani posted on social media: 

“This Policy aims to provide a structured, inclusive, and forward-looking framework for Blockchain adoption in Nigeria. The inclusive approach ensures that Nigeria’s Blockchain policy is not only technically sound, but also locally relevant, with broad-based support that reflects the realities and aspirations of our nation.” 

Some context 

• In 2023, NITDA announced the approval and establishment of a national blockchain policy. 
• The 32-page document’s aim was to improve transparency, efficiency, security and financial inclusion in different sectors of the Nigerian economy. 
• In addition, the agency kicked off the implementation of the launch in a public ceremony chaired by Nigeria’s former minister of communications and digital economy, Alli Isa Pantami. 
• Shortly after, NITDA set up a committee to implement the provisions of the document, but the committee was disbanded and reconstituted a year later for no obvious reason. 
• Last year, the agency again itemized plans to establish AI and blockchain hubs in several cities in the country and the launch of an indigenous blockchain dubbed Nigerium. 
• To date, there have been little to no signs to indicate the implementation of any of these plans and projects. 

Reactions 

• The news of the Ministry’s plans to launch a fresh blockchain policy has been met with mostly skeptical reactions from Nigerians. 
• CEO of the online tech education platform DABA, Chris Ani, expressed displeasure in response to Tijani’s announcement with NITDA’s press release announcing the launch of a blockchain policy in 2023. 
• In addition, Njoku Emmanuel, founder of the now-defunct blockchain payments startup Lazerpay, expressed skepticism about the initiative, arguing that Nigeria faces more urgent challenges, including the persistent lack of stable electricity.

• Others, such as X user Samuel Ayodele, have applauded the minister for the decision to launch the policy and suggested adjustments and improvements to the ministry’s approach.