Here are some key points about Nigeria’s development of the indigenous blockchain, “Nigerium”
The National Information Technology Development Agency (NITDA) has announced plans to develop a homegrown blockchain, dubbed “Nigerium”, to safeguard the country’s data and ensure national security.
The idea of developing Nigerium was presented by a delegation from the University of Hertfordshire Law School.
The delegation also recommended that Nigeria establish a data embassy, a server hosted in a third-party country that would provide digital continuity and protection for the country’s data.
The development of Nigerium is expected to be a collaborative effort between NITDA and relevant stakeholders, including government agencies and private sector organizations.
On May 3, 2023, the Nigerian government approved a National Blockchain Policy for Nigeria (“Policy”).
