News Highlights:
- NITDA DG Kashifu Inuwa urged collaboration among industry leaders, government officials, and experts to explore Blockchain technology’s potential
- Inuwa praised Lagos State’s plan to tokenise real estate, emphasizing the need for clear regulations and infrastructure to support a tokenised economy.
The Director General of National Information Technology Development Agency (NITDA), Kashifu Inuwa, has urged industry leaders, government officials, and experts to collaborate in exploring Blockchain technology’s potential for asset management and economic growth in Nigeria.
Digital TimesNG reports that Inuwa made this appeal during the Tokenised Economic Conference 2024, organized by Cyberchain, BAZE University, and NITDA.
Inuwa highlighted Blockchain’s ability to transform asset management by converting physical and digital assets into digital tokens, making them easier to trade, increasing liquidity, and enhancing transparency.
He emphasized how tokenisation could improve sectors like real estate, agriculture, oil and gas, and bonds by reducing inefficiencies and boosting investment.
Inuwa praised Lagos State’s plan to tokenise real estate as a bold step that other states could follow, and stressed the need for clear regulations and infrastructure to support a tokenised economy in Nigeria.
He noted that NITDA, through the National Blockchain Policy, is actively promoting the adoption of Blockchain technology across various sectors to unlock Nigeria’s economic potential.
Dr. Emomotimi Agama, the Director General of the Securities and Exchange Commission, also spoke, noting that tokenisation breaks down barriers, making investments in areas like real estate and art accessible to more people, allowing for broader financial participation.
“Through tokenisation, these highly qualified assets become more accessible to a broader audience, democratizing wealth and enabling more inclusive financial participation,” Inuwa said.
