If Nigeria isn’t jumping on the blockchain and tokenisation bandwagon, we’re about to miss the bus to the future of economic growth and asset management.
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, just dropped some serious knowledge at the Tokenised Economic Conference. And it’s time we paid attention.
The reality? Blockchain isn’t just a buzzword—it’s a game-changer, especially when it comes to asset management and economic development.
We’re talking about converting physical and digital assets into digital tokens, allowing for seamless, secure, and efficient transactions. And no, this isn’t some sci-fi plotline; it’s happening now, and Nigeria needs to lead the charge.
At the Tokenised Economy 2024 Conference, experts from Cyberchain, BAZE University, and NITDA painted a picture of what’s possible: tokenising real estate, bonds, commodities, and even oil and gas.
Imagine owning a piece of prime Lagos real estate or agricultural land without the headache of traditional paperwork. That’s where we’re headed, thanks to blockchain tech.
Nigeria’s current system is holding us back—inefficient, slow, and a nightmare for transparency. Tokenisation will bulldoze these barriers.
According to Inuwa, tokenising assets means more than just digitising them. It’s about enhancing liquidity, reducing investment barriers, and making sectors like real estate more accessible to the average Nigerian.
While other countries are cautiously dipping their toes, Nigeria could—and should—dive in headfirst. Lagos State’s plan to tokenise real estate? A bold and necessary move.
If other states follow, we’re looking at a revolutionary shift in wealth creation and economic development.
But let’s not get ahead of ourselves. None of this can happen without the right regulatory framework and infrastructure. Investors need to feel secure, and that’s where a clear legal structure comes into play.
NITDA, with its National Blockchain Policy, is already pushing forward, but more needs to be done to ensure this transformation isn’t just talk but action.
Tokenisation is the future. It’s not about jumping on trends for the sake of it—it’s about redefining the way we manage assets, make investments, and fuel economic growth.
If Nigeria truly wants to lead Africa’s charge into the tokenised economy, now is the time and waiting on the sidelines is not an option.
The clock is ticking, and the future won’t wait for us to catch up.
