The Federal Executive Council (FEC) has approved the implementation of the National Blockchain Policy for Nigeria.
The Council also approved refund of N16.7billion to Borno State Government for road projects executed by the State government on behalf of the Federal Government.
The Minister of Communications and Digital Economy, Prof. Isa Pantami and the spokesperson for the Vice-President, Mr Laolu Akande, disclosed these to State House correspondents at the end of the Council meeting chaired by President Muhammadu Buhari on Wednesday in Abuja.
Pantami said the Blockchain policy was developed in consultation with over 50 institutions and personalities.
“Today, the Federal Executive Council has approved the National Blockchain Policy for Nigeria.
“As we all know, that the Federal Government of Nigeria had earlier approved the National Digital Economy policy and strategy for a digital Nigeria.
“It was unveiled and launched by His Excellency, President Muhammadu Buhari, on Nov. 28, 2019.
“In the National Digital Economy policy and strategy for a digital Nigeria, we have eight pillars; pillar number seven is digital society.
“This (Blockchain) policy was developed through consultation with stakeholders where 56 institutions and personalities were involved in the process of conceptualising, developing and reviewing the policy.
“With the approval of the National Blockchain Policy for Nigeria today, we can safely say that blockchain technology, with all its components and types, has been institutionalised in the country.”
Pantami said that, following the approval of the policy, the Council directed regulatory agencies to liaise with the National Information Technology Development Agency (NITDA) to ensure that regulatory instruments were introduced in all sectors of the nation’s economy and security.
For his part, Akande revealed that the Council approved refund of N16.7billion to Borno State Government for road projects executed by the State Government on behalf of the Federal Government.
He said a debt sustainability analysis would be carried out by the Debt Management Office and approval obtained from the National Assembly before the money would be paid to the State Government.
“Council approved the President’s memo for the reimbursement of funds spent by the Borno State government for federal road projects in the total sum of N16,772,486.19.
“This will be processed after a debt sustainability analysis has been carried out by the Debt Management Office (DMO), leading to the issuance of debt instrument and promissory note in the same value to be approved by the National Assembly.”
The Minister of Science, Technology and Innovation, Adeleke Mamora who also briefed Journalists, announced that the Council approved a National Technology Action Plan for Climate Change Mitigation and Adaptation in the country’s most vulnerable sectors.
According to him, it has become necessary for nations to start taking actions towards mitigation and adaptation.
“Nigeria should not be left behind,” Mamora said.
Also addressing the correspondents on the outcome of the meeting, the Minister of Aviation, Hadi Sirika disclosed that the Council approved N2.6billion as variation for the procurement of security and safety operations equipment for Maiduguri International airport in Borno State.
“From civil aviation we presented three memoranda and all were approved.
“We got an approval for variation and additional costs on contract for procurement of security and safety operations equipment for Maiduguri International Airport.
“You remember in the past, the President approved an expenditure of a little over N20billion.
“It is that procurement that we sought to vary because of time and also the exchange rate of the Central Bank of Nigeria (CBN) that has been moved upward by the CBN from N306 to N416 to a dollar.
“The contracts were foreign-component denominated.
“So, that called for the variation of the contract; the variation is in the sum of N2,636,340,471.”
The minister also gave an update on the floating of a national carrier- Nigeria Air.
According to him, he stands by his word that the carrier will take-off before the expiration of the tenure of President Buhari on May 29.
He expressed the hope that the incoming administration would sustain the airline for the good of the nation’s economy.
“I think three weeks is a lot of time. By the special grace of God, it will fly and, don’t forget, we didn’t start today; we started this in 2015.
“We drew up the roadmap and we got the transaction advisors in 2016.
“From 2016, we’ve been planning and planning and planning.
“Many airlines came; more than 50% of the airlines today in Nigeria were licensed by us, by Buhari’s administration.
“We are committed and, luckily, it is APC that will be in power again; we are committed to this project.
“This project is good for the Nigerian economy and for the travelling people.
“So, this airline will be set up and the airline will be established now and the incumbent government has no choice but to run with it.
“And the reason is- 95% is not government owned; the 95% is owned by entrepreneurs.
“So the coming of the next government, which is APC, won’t throw the investment away because it is not their (it’s) government; so, it will continue.”
On the ongoing demolition of offices belonging to Aviation agencies at the Murtala Mohammed International Airport, Lagos, the minister said the Senate intervention on the matter was only advisory.
His remark followed a motion by the Senate directing the government to halt the demolition to allow the Senate Committee on Aviation, chaired by Senator Biodun Olujimi, to intervene.
Olujimi had drawn the attention of the upper legislative chamber to the warning strike threatened by the Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria, Association of Nigeria Aviation Professionals and National Association of Aircrafts Pilots and Engineers over the issue.
However, Sirika maintained that the Senate resolution was merely advisory and could not stop the government from doing its work.
“First of all, let’s put it in perspective; the intent of the government is to remove the structure housing the office of the managing director of FAAN and those commercial buildings.
“It’s a structure that is made of wood and has been there for 40 years; it has caught fire twice, even during our administration.
“To give way for better development for what Lagos has become- it is the gateway, we want to put hotels there, shopping malls, offices, cinemas and the rest of it, so FAAN can make more money.
“And the people in that entire building are like 150 or 200.
“The government is going to continue, of course.
“The Senate is advisory; it’s an executive function and the government cannot be stopped from giving development to its people.
“So I think it is not an issue; they are just overheating it.
“But we have a responsibility and mandate and we are not shy; we are very bold to do all those things that are good for our people.
“We are also a very responsive and responsible government.
“Where it will affect the lives of the people (positively), of course we are going to do it,” Sirika said.
