Nigiria’s National Blockchain Adoption Strategy
January 2023
Strategies and Action Plans
The National Blockchain Adoption Strategy outlines a comprehensive framework for integrating blockchain technology into Nigeria’s public and private sectors.
Vision and Mission
Vision: Use blockchain technology as a platform for the transition into a digital economy.
Mission: Drive the government’s adoption of blockchain technology to support efficiency, transparency, and productivity.
Key Initiatives
- Establishment of Nigeria Blockchain Consortium:
- Objectives: Drive initiatives, apply blockchain in public sector processes, and support blockchain activities.
- Activities: Support research, create a flexible regulatory environment, actively support adoption, and promote legal certainty.
- Regulation and Legal Framework:
- Objective: Establish a conducive regulatory environment that balances innovation and security.
- Approach: Implement principle-based and technology-neutral regulations, and protect all stakeholders.
- National Digital Identity Framework:
- Objective: Promote a national digital identification system to enhance government services’ digital accessibility.
- Current Efforts: Harmonisation of biometric and identification systems, involving multiple government institutions and private sector partnerships.
- Blockchain Digital Literacy and Awareness:
- Objective: Develop digital literacy in blockchain technology among citizens to support a digital economy.
- Implementation: Integrate blockchain skills into educational curricula and promote awareness through industry engagement.
- Blockchain Business Incentives:
- Objective: Foster new business models and job creation through blockchain adoption.
- Incentives: Government-funded programs for SMEs and start-ups, and promote “Made in Nigeria” blockchain solutions.
- National Blockchain Sandbox:
- Objective: Provide a secure environment for testing blockchain innovations without regulatory breaches.
- Support: Lower entry barriers and support by key regulators such as NITDA, CBN, FIRS, SEC, and NDIC.
Strategic Objectives
- Regulatory Oversight:
- Promote blockchain adoption while ensuring compliance with Nigerian laws.
- Establish a Blockchain Consortium to oversee implementation and raise public awareness.
- Stimulate Innovation and Entrepreneurship:
- Integrate blockchain proficiency skills into education.
- Create a Blockchain Skills Challenge to inspire innovation.
- Security, Trust, and Transparency:
- Promote blockchain as a secure transaction platform.
- Support research on blockchain use cases for government transactions.
- Investment Opportunities and Job Creation:
- Develop guidelines for investing in blockchain technologies.
- Incentivise job creation based on blockchain solutions.
- Governance:
- Deploy blockchain technologies in government institutions to increase efficiency.
- Promote success stories of blockchain integration in the public sector.
Key Stakeholders
Successful implementation involves various stakeholders, including:
- Federal Ministry of Communication and Digital Economy
- National Information Technology Development Agency (NITDA)
- Central Bank of Nigeria (CBN)
- Nigeria Deposit Insurance Corporation (NDIC)
- Securities and Exchange Commission (SEC)
- State Governments and Federal Capital Territory Administration (FCTA)
- Relevant Blockchain User Groups and Technology Associations