Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, recently announced plans to develop a new National Blockchain Policy, sparking a mix of excitement and concern within the tech community. The existing National Blockchain Policy, approved in 2023, took years to develop and involved numerous stakeholders. Chimezie Chuta, Chairman of the Nigeria National Blockchain Policy Implementation Steering Committee, raised concerns about the potential discontinuation of the current policy, suggesting that it could be updated instead.
The current policy aimed to position Nigeria as a leader in blockchain innovation across Africa, focusing on areas like digital identity, supply chain transparency, financial inclusion, and regulatory clarity. It established a governance structure through the implementation steering committee, which had begun work in 2024. Tijani’s new direction, outlined in a white paper, covers similar ground, emphasizing the potential of blockchain in enhancing financial inclusion, supply chain management, and digital identity solutions.
While some in the blockchain ecosystem view Tijani’s approach as a positive step towards a more inclusive and locally relevant policy, others like Senator Ihenyen see it as an opportunity to build upon the existing strategy. Ihenyen believes that the Minister intends to continue where the previous administration left off, with a focus on research, public-private partnerships, and inclusive policy-making. He also noted that the existing document was issued by a different agency, suggesting that a ministerial-level policy could drive further development and adoption of blockchain technology in Nigeria.
Despite the mixed reactions, Tijani’s commitment to advancing technological innovation in Nigeria is clear. His efforts to regulate and adopt emerging technologies, from AI to blockchain, demonstrate a strong desire to position the country at the forefront of digital transformation. As the new National Blockchain Policy unfolds, industry stakeholders stand ready to support the Minister’s vision and contribute to shaping the future of blockchain technology in Nigeria.
