Nigeria’s ambitious plan to harness blockchain technology for an estimated $40 billion in economic value is currently on hold, as the government prioritises the immediate regulation of cryptocurrencies over broader infrastructure development.
The delay highlights a strategic pivot in Abuja, where regulatory compliance and financial stability are taking precedence over long-term technological adoption goals.
The shift in focus comes as the administration moves to formalise its approach to digital assets.
President Bola Tinubu recently signed an executive order establishing a new regulatory framework for virtual assets, creating a council to oversee the sector.
This decisive action on crypto regulation has effectively overshadowed the implementation of the national blockchain policy, which was intended to serve as a foundational strategy for economic diversification.
The stalled blockchain initiative was part of a wider vision to modernise Nigeria’s economy and reduce reliance on traditional sectors.