To guarantee that regulatory instruments were adopted in the national economy and security, the FG urged regulatory agencies to communicate with the NITDA.
The Federal Government’s National Blockchain Policy for Nigeria was authorised for implementation on Wednesday in Abuja.
A decentralised, distributed, and open digital ledger called a blockchain is used to track transactions among several computers.
Such records can only be changed backwards by affecting following blocks and gaining network consensus.
At the conclusion of the cabinet meeting on Wednesday, the minister of communications and the digital economy, Prof. Isa Pantami, stated that the policy had been prepared after talks with more than 50 organisations and individuals.
“With the National Blockchain Policy’s ratification, it is reasonable to conclude that the government has institutionalised blockchain technology in all its forms.
“The Federal Government had already approved the National Digital Economy policy and plan for a digital Nigeria.
On November 28, 2019, it was both unveiled and launched, according to Pantami.
The minister said that once the policy was approved, the cabinet instructed the regulatory bodies to communicate with the National Information Technology Development Agency in order to ensure the introduction of regulatory instruments in the national economy and security.
A reimbursement of N16.8 billion to Borno for road construction carried out by the state government on behalf of the federal government was also authorised by Cabinet on Wednesday.
Vice-President Yemi Osinbajo’s spokesperson, Laolu Akande, stated in a separate media conference that the Debt Management Office (DMO) would do a debt sustainability review on the debt’s repayment.
He noted that National Assembly permission would be required before the money was sent to Borno.
“Council approved the president’s directive for the repayment of money in the amount of N16.8 billion that Borno spent on federal road construction.
This will be handled following a debt sustainability review by the DMO, which will result in issuing debt instruments and promissory notes in the same amount that the National Assembly must approve, Akande added.
The cabinet approved the National Technological Action Plan for Climate Change Mitigation and Adaptation in the nation’s most vulnerable sectors, according to Minister of Science, Technology, and Innovation Adeleke Mamora in yet another briefing.
He said that because of the terrible implications of climate change, governments should act now to reduce emissions and adapt to new trends.
Hadi Sirika, the minister of aviation, stated at his press conference that the cabinet had authorised a variation of N2.6 billion for the purchase of security and safety operations equipment for the Maiduguri International Airport.
He added that the president has already approved spending somewhat more than N20 billion on the project.
Sirika also promised that Nigeria Air, the country’s airline, would fly before May 29.
