With the advent of emerging technologies which are disrupting the existing traditional processes by revolutionizing the way people interact and transact businesses, the Director General of the National Information Technology Development Agency, Kashifu Inuwa CCIE has said that Blockchain technology supports the digital transformation agenda of the Agency and will facilitate the development of Nigeria into a Digital Economy.

The DG who was represented by the Agency’s Director, Information Technology Infrastructure Solutions department, Dr Usman Gambo Abdullalhi at the Abuja Blockchain and Crypto-Assets Conference/Exhibition 2021 held at Sheraton Hotel, Abuja where he delivered a keynote address stated that Blockchain Technology acquaints people with vast opportunities and help overcome challenges.

According to the DG, Blockchain is an emerging technology that provides a secured distributive ledger platform for seamless transactions which can lead to new opportunities that can benefit industries through greater transparency, enhanced security and easier traceability.

He said NITDA, through its Strategic Roadmap and Action Plan (SRAP) is committed to promoting emerging technologies with the purpose of building a healthy and enviable IT ecosystem.

Inuwa however expressed concerns on the need to enforce regulations that will protect citizens and ensure fair markets without stifling innovation as the Agency’s commitment to implementing regulatory instruments and implementation strategies will drive adoption of technology by both public and private sectors.

“I am glad to say that, NITDA’s efforts towards the development of a National Blockchain Adoption Strategy document advances the efforts of Mr President and the Federal Ministry of Communication and Digital Economy in creating and fostering an efficient, safe, and economically productive and viable Digital Nigeria using the Blockchain Technology”, the DG averred.

He remains optimistic that the developed strategy for Blockchain will unleash potentials in all sectors leading to improved efficiency, transparency and accountability in governance.

“Blockchain Technology would surely key into the Economic Recovery and Growth Plan of the Federal Government by increasing the contribution of ICT and innovation to the Gross Domestic Product (GDP)”, he said.

While giving assurances of NITDA’s utmost support to technology and innovation ecosystem, the DG noted that technology policies, frameworks and guidelines are important parameters in building a lucrative IT industry.

Inuwa then urged participants at the event to brainstorm and develop initiatives that will assist the government on devising best ways and practices to help surmount challenges faced by the country.

“We must not be defined by our current challenges, they are not who we are, we are bigger than them, we must be defined by our dreams and aspirations, we must be defined by what we can achieve”, the DG concluded