Nigeria is taking a decisive step in shaping its digital future with the official release of the Whitepaper on the National Blockchain Policy (NBP), a key initiative led by the Federal Ministry of Communications, Innovation and Digital Economy.
The Whitepaper, the Ministry says, lays the groundwork for a structured, inclusive and forward-looking framework to drive blockchain technology adoption across the country. It builds on the National Blockchain Strategy unveiled by the National Information Technology Development Agency (NITDA) in 2024.
Unveiling the document, Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy, says the Policy underscores Nigeria’s commitment to leveraging blockchain for economic development and digital inclusion. The Whitepaper engages blockchain experts of Nigerian heritage across the globe, along with local stakeholders spanning government, academia, civil society and the private sector, to ensure the policy is “technically robust and contextually relevant.”
The Federal Government highlights blockchain’s transformative potential across sectors such as agriculture, identity management and financial services. According to the Ministry, blockchain can reduce transaction costs by as much as 80%, a benefit with far-reaching implications for Nigeria’s digital economy.
Ministry: Blockchain can reduce transaction costs by 80%
Key focus areas outlined in the Policy include digital identity, electronic transactions, supply chain transparency, financial inclusion and governance innovation—domains the Ministry identifies as critical for national development.
The Federal Government highlights blockchain’s transformative potential across sectors such as agriculture, identity management and financial services. According to the Ministry, blockchain can reduce transaction costs by as much as 80%, a benefit with far-reaching implications for Nigeria’s digital economy.
In a move to deepen stakeholder engagement, the Ministry adopts what it describes as a “data-driven, co-creative approach,” by identifying leading Nigerian blockchain researchers worldwide. With support from generative AI and human verification processes, 21 researchers of confirmed Nigerian descent have been shortlisted. The public is invited to review and help validate the list as part of the ongoing consultation.
“This collaborative and consultative process ensures that the National Blockchain Policy aligns with our nation’s developmental goals and the realities of its digital economy,” the Whitepaper notes.
The Ministry calls on all stakeholders and the general public to review the Whitepaper and contribute to shaping the trajectory of blockchain adoption in Nigeria.
The Whitepaper is available via the Ministry’s official platforms, with public input considered vital in refining the final roadmap for blockchain deployment in Nigeria.
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