The president of the Federal Republic of Nigeria, Muhammadu Buhari on Tuesday changed the name of the the communications ministry from Ministry of Communications to Ministry of Communications and Digital Economy.
The change of name was requested by the newly inaugurated minister, Dr Isa Pantami, who was at the Abuja Blockchain and Digital Assets Conference that held earlier this month at the Abuja Sheraton Hotel
Prominent media outlets in the country reported the news. According to the The PulseNG: The minister “cited examples of global and African economies like Scotland, Thailand, Tunisia, Benin Republic and Burkina Faso among others, who have adopted deliberate strategies and created Ministries of Digital Economy in line with global best practice, and especially the European Union which has a commissioner for Digital Economy.”
The Nation Online: “ICT contribution to the country’s Gross Domestic Product (GDP) stood at 13.85% in the second quarter of 2019. The change of nomenclature will propel the Ministry to reposition its strategic objectives as laid out in the priority areas of this administration while accelerating growth and social inclusion”.
It appears that the Abuja Blockchain Conference will lend credence to the minister’s desire to change the ministry’s name to soothe the digitization of assets and technology development going on in the world.
This move will help the proper regulation of blockchain/cryptocurrency in Nigeria and put Nigeria on the list of nations open to technology advancement.