Nigerian national blockchain policy gets government approval
Nigeria's federal executive council has approved the national policy on blockchain to help the country develop a regulatory framework to govern the adoption of the technology. Nigeria, known to be one of the world’s most curious nations about Cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The Federal Ministry of Communications and Digital Economy (FMCDE), in the announcement, cited a report from PricewaterhouseCoopers (PwC), which predicts that the widespread adoption of blockchain technology across various industries could potentially contribute $1.76 trillion to the global gross domestic product by 2030, representing 1.4% of the world's GDP. The National Blockchain Policy for Nigeria was developed by the FMCDE through stakeholder consultations...