Blockchain Policy Dialogue By NITDA & SiBAN

As blockchain innovation surges across the continent, the importance of dialogue that brings together key players cannot be overstated. These conversations among stakeholders play a pivotal role in shaping the trajectory of innovation, particularly in the African context. The collaborative event between the National Information Technology Development Agency (NITDA) and the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) which took place on August 9, 2023 exemplified this.

Themed “Driving Sustainable Economic Growth and Development through the Adoption of Blockchain Technology”, the event served as a great illustration of the importance of stakeholders’ discussions in fostering advancements that can steer the course of Africa’s blockchain and technological journey.

Executive Perspectives on Nigeria’s Economic Growth and Technological Advancement

At the stakeholders’ dialogue, key executives shared comprehensive viewpoints, expanding on the potential trajectory of blockchain’s role in Nigeria’s economic growth and technological evolution. The President of SIBAN, Mr. Iwuno Obinna shared his conviction about the transformative power that lies in equipping Nigeria’s youth with blockchain expertise, stating that it has the potential to significantly raise the country’s Gross Domestic Product (GDP) through blockchain-driven initiatives. He speculated that it could lead to an annual revenue upsurge of up to $6 billion.

This perspective was in synergy with the insights by the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE who had earlier shared the importance of harnessing the potential of blockchain technology for Nigeria’s economic advancement. His address highlighted the agency’s commitment to driving innovation and collaboration in the blockchain space, underpinning its role as a catalyst for technological growth.

Overall, the discourse emphasized the benefits of integrating blockchain technology across various sectors of the economy to foster economic growth and development.

Collaboration Is The Way Forward

The event drove home a vital point: the need for collaboration is crucial in pushing forward the adoption of blockchain tech and unlocking the nation’s potential on the global blockchain scene.