Nigeria has unveiled its inaugural Blockchain Policy Whitepaper, establishing a strategic framework to foster financial inclusion, enhance supply chain transparency, and position the country as a global leader in the digital economy.
Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, emphasized that this initiative marks a significant shift toward harnessing emerging technologies for inclusive economic growth. He highlighted that the policy aims to create a structured, inclusive, and forward-looking approach to blockchain adoption across various sectors.
“The approach ensures our blockchain policy is technically robust, locally relevant, and broadly supported — reflecting the realities and aspirations of Nigerians,” said Tijani.
Tijani noted that the whitepaper, ‘Co-creating a Roadmap for Blockchain in Nigeria,’ underscores the importance of inclusivity, public trust, and innovation in shaping a policy aligned with national aspirations.
The document highlights blockchain’s transformative potential in financial services, agriculture, and digital identity. With estimates suggesting blockchain could reduce transaction costs by up to 80% and generate over $1.76 trillion in global economic impact by 2030, Nigeria aims to capitalize on these opportunities.
In agriculture, blockchain is expected to improve supply chain transparency, while in financial services, it promises broader access for underserved communities. The policy also prioritizes secure, tamper-proof digital identities to address identification challenges nationwide.
Building on the 2024 National Blockchain Strategy developed by the National Information Technology Development Agency, the whitepaper integrates insights from leading Nigerian blockchain experts worldwide. A novel methodology combining generative AI and human verification was used to identify top researchers of Nigerian descent, ensuring the policy reflects both global expertise and local realities.
“By crowd-sourcing validation and encouraging diverse participation, we aim to foster innovation and ensure the sustainable implementation of blockchain solutions,” said Tijani.
