Nigerium: Inside NITDA’s Plan to Build Nigeria’s Indigenous Blockchain Network

An exploration of Nigeria’s plans to develop an indigenous blockchain network, Nigerium, its implications for national security, and the potential benefits for the country.

Points

• Nigeria plans to develop an indigenous blockchain, Nigerium.
• The initiative aims to protect national data and promote security.
• The project highlights Nigeria’s commitment to leveraging emerging technologies.

The National Information Technology Development Agency （NITDA） has disclosed Nigeria’s intention to develop a blockchain branded “Nigerium.” According to the revelation by Kashifu Inuwa Abdullahi, NITDA’s Director-General, the indigenous blockchain is necessary to protect the country’s data and promote national security. The move comes in response to the control of prominent blockchain technologies by foreign developers who may not prioritize Nigeria’s interests.

Strategic Importance of Nigerium

Nigeria has made significant moves to leverage emerging technologies like blockchain in recent times. In May 2023, the Federal Ministry of Communications and Digital Economy announced a national blockchain policy to facilitate the development of the Nigerian digital economy and enable citizens to have more confidence in digital platforms. Subsequently, an implementation and steering committee of blockchain experts was set up.

Recent Developments

In August 2023, NITDA Chief Kashifu Inuwa Abdullahi announced that the certificate of the National Youth Service Corps of Nigeria would now be issued and certified on blockchain technology. This initiative aims to minimize the risk of forgery and enhance the integrity of national documentation.

The Need for Nigerium

The development of an indigenous blockchain （Nigerium） is a significant step in implementing the national blockchain policy. Nigerian authorities are also addressing crypto usage and adoption in the country, despite advancements in blockchain regulation. This includes legal disputes with Binance and the implementation of value-added-tax （VAT） on transactions by prominent crypto exchanges like KuCoin.

Future Prospects

The Nigerium blockchain project was proposed by a delegation from the University of Hertfordshire Law School, led by Chanu Kuppuswamy. The delegation emphasized the potential risks of relying on foreign-made blockchains and the benefits of a homegrown blockchain that aligns with Nigeria’s laws and regulations. The proposed project aims to improve national security and the safety of citizens’ data.

Conclusion

The Nigerium project, if approved, will be a collaborative effort between NITDA and stakeholders, including government agencies and private sector organizations. This initiative highlights Nigeria’s commitment to leveraging blockchain technology for national security and economic development.

解説

• National Security: Developing an indigenous blockchain helps protect national data and promotes security, reducing reliance on foreign technologies.
• Blockchain Adoption: Nigeria’s proactive approach to blockchain adoption and regulation sets a precedent for other countries looking to leverage emerging technologies.
• Collaborative Efforts: The collaboration between government and private sector organizations is crucial for the successful implementation of the Nigerium project.