Nigeria’s National Information Technology Development Agency (NITDA) has announced that it would restructure the country’s National Blockchain Policy Steering Committee (NBP-SC).
According to a report from local media outlet Punch, Kashifu Inuwa, NITDA’s Director-General, represented by Oladejo Olawunmi, the Director of IT Infrastructure Solutions, made this announcement at a three-day workshop in Abuja focused on implementing the country’s Blockchain Policy.
Olawunmi reportedly stated,
“We realized there was a need to infuse some more members into the committee to ensure that we have full membership from the public and private sector to prevent anything that had occurred in the past.”
The NBP-SC was originally formed on May 3, 2023, and includes members from government, academia, the private sector, and the blockchain industry.
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The revised committee will include experts from various sectors to ensure comprehensive input.
Olawunmi explained that the committee’s review aims to keep up with the latest blockchain developments and expand its application by engaging more stakeholders. He also noted that this move is expected to encourage widespread adoption and successful policy execution. In his words:
“This review is part of efforts to incorporate new emerging technologies and economic realities, expanding its reach to land registration, health, and education sectors.”
“Presently, we are still at the development stage of blockchain usage in Nigeria, and because of that, many people are not aware of its benefits. They think it is just about crypto alone, but it is vast. Blockchain can be used in any industry, like supply chain management, to ensure that the right products get to the consumer.”
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Blockchain technology provides secure and transparent payment options, helping businesses cut costs, improve cash flow, and offer quicker transactions for consumers. The country hopes to capitalize on this to boost economic activity and growth as more Nigerians adopt the technology.
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