Minister for Communications in Nigeria adopts Blockchain into the nation's digital Innovation program

Minister for Communications in Nigeria adopts Blockchain into the nation’s digital Innovation program

Nigeria is planning on building technological centres all over the country and for this reason, they plan to adopt the blockchain technology.

It was reported that the country’s Communications Minister, Pantami Isa spoke on the nation’s interest in blockchain as a novel technology during the Digital Africa conference held on Wednesday.

He said the country is planning on opening innovation centres around the nation which will focus on protocols relating to capacity building in fields like blockchain, artificial intelligence, amongst others.

He also said the strategy for National Blockchain Adoption has been developed in the bid to link blockchain technology and the digital economy and encourage innovation in the nation.

Around October 2020, the National Information Technology Development Agency- NITDA produced a draft containing a six point agenda about the strategy framework for the new blockchain technology.

Head of NITDA, Inuwa Kashifu while speaking at the conference said Nigeria could spearhead the growth of blockchain and Artificial Intelligence in Africa. In a statement made in November, 2020, he also said there is a possibility of making revenue of about $10 billion from blockchain in Nigeria by 2030.

Communications ministry headed by Pantami mandated all citizens to link their phone numbers to their national Identity data and this caused some contention in the country.

The minister addressed issues regarding safety of data and privacy issues but did not say whether or not blockchain will be utilized in securing the national identity data.

Around February, Yemi Osinbajo, the country’s vice president said blockchain and crypto will become game changers for the financial scenery of the nation. Shortly after Osinbajo’s remark, the Central Bank of Nigeria (CBN) placed a ban on financial firms, preventing them from providing services related to cryptocurrencies.


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