By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    Bola Ahmed Tinubu
    Tinubu Condoles with India over Tragic Train Crash
    June 3, 2023
    Pauline Tallen
    Ex-Minister Pauline Tallen Opens Up on EFCC Interrogation
    June 3, 2023
    Tinubu meets Ibori, Wike, Makinde in Aso Villa
    June 2, 2023
    Nigeria Braces for Nationwide Strike as NLC Demands Reversal of Fuel Subsidy Removal
    June 2, 2023
    Femi Gbajabiamila
    Chief of Staff Appointment: Gbajabiamila Expresses Thanks to President Tinubu
    June 2, 2023
  • Entertainment
    EntertainmentShow More
    Arsenal Superstar, Bukayo Saka Visits Lagos
    June 1, 2023
    Spotify Data reveals Nigerian Gen Z’s unwavering love for mellow music
    May 30, 2023
    Inauguration: Twitter Disables Osinbajo’s Verification Badge
    May 29, 2023
    Emir of Kano, Ado Bayero Booed at Inauguration Ground
    May 29, 2023
    Nollywood actress Juliana Olayode Issues Public Apology to Funke Akindele
    May 27, 2023
  • Business & Economy
    Business & EconomyShow More
    Oluwayemisi Olorunshola
    Wema Bank Plc Announces Oluwayemisi Olorunshola as New Board Chairman
    June 1, 2023
    Central Bank of Nigeria (CBN)
    CBN Sets the Record Straight, Denies Reports of Naira Devaluation
    June 1, 2023
    FIRS: Nigeria’s Tax-to-GDP Ratio Surges to 10.86% As At 2021
    May 31, 2023
    Zenith Bank Plc Receives Best Corporate Governance Award for Fourth Consecutive Year
    May 31, 2023
    L-R: Non-Executive Director, NASCON Allied Industries Plc, Knut Ulvmoen; Executive Director Commercial, NASCON Allied Industries Plc, Fatima Aliko-Dangote; Non-Executive Director, NASCON Allied Industries Plc, Olakunle Alake; Independent Non-Executive Director, NASCON Allied Industries Plc; Prof. Chris Ogbechie; Chairperson, NASCON Allied Industries Plc, 'Yemisi Ayeni; Acting Managing Director, NASCON Allied Industries Plc, Thabo Mabe; Non-Executive Director, NASCON Allied Industries Plc, Abdu Dantata; Non-Executive Director, NASCON Allied Industries Plc, Fatima Wali-Abdurrahman; and Non-Executive Director, NASCON Allied Industries Plc, Sada Ladan-Baki, at the 2022 Annual General Meeting (AGM) of NASCON Allied Industries Plc, in Lagos on Friday, May 26, 2023.
    NASCON Allied Industries Plc Reports Stellar Growth, Surging Profit After Tax by 84% in 2022
    May 28, 2023
  • Sport
    SportShow More
    Europa League Final: UEFA Charges Mourinho for Referee Abuse
    June 3, 2023
    Victor Osimhen Clinches Best Striker Award for 2022/23 Serie A Season
    June 2, 2023
    Forbes Ranks Real Madrid World’s Most Valuable Football Team [FULL LIST]
    June 2, 2023
    Sevilla Beat Roma on Penalties to Win 7th Europa League Title
    June 1, 2023
    U-20 World Cup: Nigeria Advance to Quarter-Final After Defeating Argentina 2-0
    June 1, 2023
  • Tech
    TechShow More
    NITDA, CISCO Collaborate to Bridge Nigeria’s Digital Skills Gap
    May 21, 2023
    NITDA Launches 4th Edition of Service Charter, iServe Emblem to Enhance Service Delivery
    May 13, 2023
    Elon Musk Announces Linda Yaccarino as CEO of Twitter
    May 12, 2023
    NCC
    NCC clarifies spending report, denies incurring N17bn deficit
    April 25, 2023
    NCC
    NCC-CSIRT Warns Nigerians of Increasing WhatsApp Account Hacking, Recommends 2FA
    April 4, 2023
Reading: FG Launches Blockchain Technology Policy, Sets Up National Implementation Committee
Share
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Tech

FG Launches Blockchain Technology Policy, Sets Up National Implementation Committee

Muhammad A. Aliyu By Muhammad A. Aliyu Published May 17, 2023
Share
5 Min Read
SHARE

In a move aimed at embracing emerging technologies and harnessing their benefits, the Federal Government of Nigeria has unveiled a National Policy on Blockchain Technology.

To oversee the implementation of this policy, an Implementation & Steering Committee has been inaugurated.

The launch of the policy was led by Professor Isa Ali Ibrahim (Pantami), the Minister of Communications and Digital Economy, who emphasized the importance of blockchain technology in positioning Nigeria as a global leader in the blockchain ecosystem.

He highlighted that the journey of blockchain technology in Nigeria officially began on November 28th, 2019, when President Muhammadu Buhari unveiled and launched the National Digital Economy Policy & Strategy (NDEPS) for a Digital Nigeria.

- Advertisement -

Professor Pantami explained that the seventh pillar of the NDEPS, titled “Digital Society & Emerging Technologies,” is now making significant progress, with blockchain technology being one of the key emerging technologies driving this progress.

He noted, “In order to implement the seventh pillar, we had to develop other policies, including Policy on Artificial Intelligence and Robotics which brought about the establishment of the first-ever National Centre for Artificial Intelligence and Robotics (NCAIR) in Africa, sited here in Abuja. Also, in our efforts to implement the policy, particularly pillar number seven, we developed the National Blockchain Policy for Nigeria.”

The Minister emphasized the significance of blockchain technology to Nigeria’s Digital Economy drive, stating that the Fourth Industrial Revolution has not marginalized the African continent.

He highlighted that Nigeria, along with at least two other African countries, is actively participating in the revolution, which he described as an extension of the third revolution.

The Fourth Industrial Revolution has introduced disruptive technologies such as blockchain, artificial intelligence, robotics, cloud and quantum computing, virtual and augmented reality, autonomous vehicles, biotechnology, 5G, and cybersecurity.

Nigeria’s involvement in these emerging technologies further solidifies its position as a key player in Africa’s technological advancement and the leading startup hub on the continent.

Professor Pantami praised the innovative achievements of Nigerian tech entrepreneurs, citing their exploits as proof of the country’s position.

Regarding the National Blockchain Policy, Professor Pantami confirmed that the policy had been approved on May 3rd, 2023, making all components and types of blockchain technology legal in Nigeria. Prior to the approval, the policy underwent scrutiny by 56 stakeholders and institutions.

Professor Pantami explained, “This policy is to provide an enabling environment for your teeming young population who are mostly digital natives to partake in critical thinking, identify complex problems, come up with solutions for implementation of adoption in Nigeria or any parts of the world.”

Kashifu Inuwa Abdullah, the Director-General of the National Information Technology Development Agency (NITDA), welcomed guests to the launch event and expressed his enthusiasm for Nigeria’s progress toward becoming a digital nation where citizens have access to the latest technology, skills, and a conducive environment to innovate in the realm of blockchain technology.

Inuwa emphasized that the policy represents a significant leap forward and an opportunity to create an enabling environment through investments in talent, technology access, and domestication.

Citing PricewaterhouseCoopers (PWC), Inuwa stated that blockchain technology is projected to add $1.76 trillion to the global GDP by 2030, and Nigeria aims to position itself to benefit from this growth.

“If the policy is implemented, Nigeria can gain up to $4 billion,” Inuwa added.

The launch event also included the inauguration of the National Blockchain Policy Implementation/Steering Committee and celebrated the graduation of 32,022 individuals who underwent training in blockchain technology.

Minister Pantami, who inaugurated the committee, presented certificates to some of the beneficiaries and highlighted that this action aims to build upon the Federal Government’s ongoing initiative.

The committee consists of 29 members, representing critical sectors of the economy.

As part of the ceremony, graduates shared their success stories and expressed their gratitude to the Federal Government, the Ministry of Communications and Digital Economy, NITDA, and the facilitators for providing them with the opportunity to be trained in blockchain technology.

TAGGED: FG
Share This Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Bola Ahmed Tinubu
Tinubu Condoles with India over Tragic Train Crash
News
Pauline Tallen
Ex-Minister Pauline Tallen Opens Up on EFCC Interrogation
News
Europa League Final: UEFA Charges Mourinho for Referee Abuse
Sports
Victor Osimhen Clinches Best Striker Award for 2022/23 Serie A Season
Sports
Emurgo Africa Set to Unveil Africa’s First State of Web 3.0 in Africa Report
Featured
- Advertisement -

You Might Also Like

News

Subsidy Removal: FG, NLC Meeting Ends in Deadlock

May 31, 2023
News

FG Declares Public Holiday for President-elect Tinubu’s May 29 Inauguration

May 26, 2023
Tech

NITDA, CISCO Collaborate to Bridge Nigeria’s Digital Skills Gap

May 21, 2023
Tech

NITDA Launches 4th Edition of Service Charter, iServe Emblem to Enhance Service Delivery

May 13, 2023
Previous Next
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2022 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?