What Does Nigeria’s Blockchain-Friendly Regulatory Change Mean For Bitcoin Adoption?

This is an opinion editorial by Heritage Falodun, a Bitcoin consultant and computer scientist based in Nigeria. On May 3, 2023, during a federal executive council meeting presided over by President Muhammadu Buhari at the council chamber in Abuja, the Nigerian government approved the official use of blockchain technology in the country. Nigeria’s minister of communications and digital economy, professor Ali Isa Pantami, disclosed the official approval of “The National Blockchain Policy For Nigeria,” stating that the “the new policy was a product of consultations with 56 institutions and personalities whose end goal is to institutionalize blockchain technology in Nigeria’s