Nigeria is projecting to get at least $6bn from blockchain technology and use Information and Communication Technology (ICT) to increase the Gross Domestic Product (GDP) of the country.
Director-General of National Information Technology Development Agency (NITDA), Kashifu Abdullahi, has said.
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Abdullahi disclosed this in Abuja on Thursday when he spoke to journalists on the sideline of Stakeholders’ Engagement for the Review of the National Blockchain Adoption Strategy Framework.
Abdullahi premised his projection upon the booming usage of technology for payment and other financial services, adding that the geometric increase in youth population gives Nigeria opportunity to general such amount.
According to him: “Based on the PwC analysis, China is going to get the highest net worth potential from this blockchain.
“It is projected that by 2030, China will capture around $460bn from this.
“So, Nigeria, looking at our youthful population, which is mainly digitally native and our strategic position in Africa, we are looking at how we can get at least around $6bn to $10bn from this by 2030.”
He noted that blockchain will help Nigerians to capture values from other sectors like land administration, education, health among others.
“This is doable because if you look at our payment and financial services, it is very huge and it is strategically placed to capture this value.
“Nigeria is already one of the hottest places when it comes to FinTech.
“So, looking at this, we are coming up with strategy that will help Nigeria to capture value from the financial services, from the land administration, from education and from health care because blockchain is going to play a key role in terms of tracing and tracking of products and services,” the NITDA boss noted.
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