President-Elect, Bola Tinubu Hints on Plans for Blockchain and Enaira

INEC declaration concerning the just concluded general election came to conclusion 4 am on Wednesday the 1st of March, 2023 after the commission declared Bola Ahmed Tinubu President-elect  having satisfied the requirement of the law. However, before the election Tinubu issued an 80-page IT ecosystem manifesto during his campaign where he promised 1 million IT jobs in 24 months if elected. This is believed to kick-start after he assume office.

See Tinubu's intentions which was written in his manifesto.

"Our government would try to generate one million new employment in the ICT sector within its first 24 months [by implementing] new technologies that can fast-track corporate development and diversification," Tinbu's manifesto states. 

Aside that Bola Ahmed Tinubu said he will support tech-savvy Nigerian youth and develop intervention programs in the ICT industry and other vital areas of the Nigerian economy where new technology may accelerate corporate growth and diversification.

He also added that his government will invest in the ICT industry and digital economy which will revitalize indigenous industries, boost competitiveness, boost productivity, and generate millions of employment for Nigerians.

In the manifesto, his administration promised to embrace blockchain technology in finance/banking, identity management, revenue collecting, and crypto assets.

Studying the manifesto, the blockchain's security and accountability may make daily interactions easier, faster, and more convenient, as well as offer additional chances to introduce interesting new professions and enable broader financial inclusion.

Continuing on the manifesto…

“As part of our reforms, we will establish an advisory group to assess the regulatory environment governing blockchain technology and virtual asset services and advise improvements to make it more efficient and business-friendly. We would also push the CBN to utilize our digital money, the eNaira.”

His platform proposes “measures that would develop and create capability among Nigeria's big and youthful population to enable outsourcing services like India's.’’

ICT-enabled outsourcing will provide the greatest possibility to create new jobs in Nigeria and constructively involve young Nigerians in the digital global economy. ICT-enabled outsourcing earned India US$6 billion in 2021 and employed millions of its inhabitants. “We will teach and equip Nigeria's big and young people to capitalize on this industry's prospects,” he said.

Tinubu's manifesto also called for new strategies to boost local finance, startup capital, and international investment in Nigeria.

“We will create new policies to enhance local financing possibilities and startup capital access and encourage international investors to keep investing in Nigeria. Technology centers and parks, accelerators, and investors will be incentivized to maintain a robust startup ecosystem.”

Conclusion

It’s believed that Tinibu's manifesto might increase IT job generation and infrastructure if properly executed. But, I doubt if his administration truly understands how to embrace an inclusive digital economy. These initiatives may increase employment, but execution, time, and size may impact the outcome. However, we wish Nigerians’s the best as a new government takes on before the year comes to an end.