Nationwide rollout of AI and Blockchain research centers planned by Nigeria
In a significant stride towards digital innovation, Nigeria's National Blockchain Policy is actively progressing within a broader digital asset regulatory framework. This development comes as a result of a joint effort by the National Information Technology Development Agency (NITDA) and the Ministry of Communication and Digital Economy.
The policy's primary aim is to create a more secure and regulated environment for digital assets, with the passage of the Investment and Securities Act (2025) serving as a cornerstone. This legislation legally recognises cryptocurrencies (including stablecoins) as securities under Nigerian law.
The Nigerian Securities and Exchange Commission (SEC) has taken the lead in integrating blockchain-based digital assets into the national economy. They have introduced a stablecoin framework, designed to ensure investor protection and market stability. Regulatory sandboxes are being used to pilot blockchain and crypto models before full rollout, demonstrating a phased, controlled implementation approach.
The roadmap for Nigeria’s blockchain and crypto regulation involves full legal recognition of digital assets, structured licensing and oversight of crypto operators, use of regulatory sandboxes to test and refine blockchain applications in finance, and active efforts by the SEC to position Nigeria as a leading digital finance hub in Africa.
Regarding the National Information Technology Development Agency (NITDA), while specific detailed recent initiatives on blockchain from NITDA are not explicit, it is known as the key government agency responsible for IT policy implementation and digital infrastructure in Nigeria. NITDA works closely with other bodies like SEC and the Central Bank of Nigeria to support digital technology development, including blockchain.
Aristotle Onumo, the director of corporate planning and strategy at NITDA, recently announced plans to establish research hubs for artificial intelligence (AI), internet of things (IoT), blockchain, UAVs, additive manufacturing, and robotics across Nigeria's six geopolitical zones. These hubs will not only fund research in these areas but also support Nigerian startups developing products on emerging technologies.
President Bola Tinubu, in his pre-election manifesto, also promised to integrate blockchain into various sectors of the Nigerian economy. However, the specifics of these plans remain unclear at this time.
In summary, Nigeria's National Blockchain Policy is progressing under the Investment and Securities Act (2025), with a focus on financial regulatory frameworks managed by SEC and CBN. NITDA plays a crucial role in supporting digital technology development, including blockchain, and works closely with other agencies in this endeavour. As the policy continues to evolve, more details about its implementation and specific initiatives from NITDA are expected to emerge.
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- The National Blockchain Policy in Nigeria is working towards creating a secure and regulated environment for digital assets, with the Investment and Securities Act (2025) serving as a foundation.
- The Nigerian Securities and Exchange Commission (SEC) is driving the integration of blockchain-based digital assets into the national economy, having introduced a stablecoin framework for investor protection and market stability.
- Regulatory sandboxes are being employed in Nigeria to test and refine blockchain applications in finance, as part of the country's roadmap for blockchain and crypto regulation.
- The National Information Technology Development Agency (NITDA) is the key government agency responsible for IT policy implementation and digital infrastructure in Nigeria, collaborating with other bodies like SEC and the Central Bank of Nigeria for technology development, including blockchain.
- Aristotle Onumo, director of corporate planning and strategy at NITDA, has announced plans to establish research hubs for various emerging technologies, including artificial intelligence (AI), internet of things (IoT), blockchain, and robotics, to support Nigerian startups.
- President Bola Tinubu has expressed an intention to integrate blockchain into various sectors of the Nigerian economy, although specific plans are currently unclear.
