By 
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has called for collaboration to harness the transformative potential of Blockchain technology. He wants common grounds among government officials, and experts to leverage Blockchain for asset management and economic development.
RELATED: Tokenised payment transactions to exceed 1Tr globally by 2026; driven by Click-to-Pay
He spoke at the Tokenised Economic Conference and Exhibition themed “Tokenised Economy 2024: Real-World Assets Tokenisation.” The event was organised by Cyberchain in partnership with BAZE University and NITDA. Abdullahi emphasised the role of technology in driving GDP growth. The gathering served as a platform for industry professionals to explore opportunities in digital assets finance, capital markets, commodities, real estate fractional ownership, and more.
Tokenising assets through BlockchainÂ
In his keynote address, Abdullahi outlined the benefits of tokenising physical and digital assets through Blockchain technology. He described tokenisation as the process of converting traditional assets into digital tokens recorded on a blockchain, enhancing liquidity, accessibility, and security.
“Tokenisation allows assets to be sold, held, and traded digitally,” Abdullahi explained. He was represented by Salisu Kaka, Director of e-Government and Digital Economy Development at NITDA,
“This increases liquidity, lowers investment barriers, and improves transparency—especially in markets like real estate plagued by inefficient transfer and record-keeping processes.”
Value of regulatory frameworkÂ
He further stressed the importance of developing a regulatory framework to boost investor confidence. This is in addition to creating the necessary infrastructure to support a tokenised economy. Abdullahi highlighted Lagos State’s plan to tokenise real estate as a bold move that other states could emulate. He noted that tokenising sectors like agriculture, oil and gas, securities, and bonds would accelerate wealth creation and economic growth.
Since the launch of Nigeria’s National Blockchain Policy (NBP), NITDA has been at the forefront of promoting blockchain adoption across all sectors. Abdullahi reaffirmed that real-world asset tokenisation presents a promising opportunity for Nigeria to unlock its economic potential. This could Nigeria to position itself as a leader in Africa’s tokenised economy.
Tokenisation breaks down barriers
Dr. Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), echoed these sentiments. He said that tokenisation breaks down traditional barriers. The technology helps at democratising investments in areas like real estate and art. The end result is that it make investments accessible to a wider audience, regardless of financial status. “This shift encourages more inclusive financial participation and wealth democratization,” Agama concluded.
There is a growing recognition of blockchain technology as a catalyst for economic development. Nigeria’s digital transformation appears poised to gain momentum, driving innovation and prosperity across various industries.
