Nigeria Overhauls Blockchain Policy Committee with New Experts

Nigeria’s National Information Technology Development Agency (NITDA) has restructured the National Blockchain Policy Steering Committee (NBP-SC) to reevaluate the policies guiding the implementation of the National Blockchain Policy.

Kashifu Inuwa, the Director-General of NITDA, made the announcement through Oladejo Olawunmi, the Director of IT Infrastructure Solutions at NITDA, during a three-day co-creation workshop in Abuja on Tuesday, May 21. The workshop focused on implementing the National Blockchain Policy.

Inuwa highlighted that the review aims to keep pace with blockchain innovations and broaden its reach by involving additional stakeholders, facilitating comprehensive adoption, and ensuring successful execution.

He emphasized that the review is part of efforts to integrate new emerging technologies and respond to economic realities, extending blockchain applications to sectors such as land registration, health, and education.

“Currently, we are still in the early stages of blockchain adoption in Nigeria, and many people are unaware of its benefits. They often associate it solely with cryptocurrency, but its applications are extensive. Blockchain can be utilized in various industries, including supply chain management, to ensure products reach consumers accurately.”

By providing secure and transparent payment options, businesses can reduce costs, improve cash flow, and offer consumers faster and more convenient transactions. This fosters increased economic activity and growth, as Nigerians gradually embrace the technology.

The committee, initially established on May 3, 2023, includes members from government agencies, institutions, the private sector, academia, and the blockchain industry. However, the Director-General has not disclosed the specific reasons for its reformation a year later.

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