Nigiria’s National Blockchain Adoption Strategy

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

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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

  1. Regulatory Oversight:
    • Promote blockchain adoption while ensuring compliance with Nigerian laws.
    • Establish a Blockchain Consortium to oversee implementation and raise public awareness.
  2. Stimulate Innovation and Entrepreneurship:
    • Integrate blockchain proficiency skills into education.
    • Create a Blockchain Skills Challenge to inspire innovation.
  3. Security, Trust, and Transparency:
    • Promote blockchain as a secure transaction platform.
    • Support research on blockchain use cases for government transactions.
  4. Investment Opportunities and Job Creation:
    • Develop guidelines for investing in blockchain technologies.
    • Incentivise job creation based on blockchain solutions.
  5. 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