The Nigerian Federal Government and a cryptocurrency platform, Binance Holdings Limited, are at present, debating on the establishment of a digital economic zone that will aid entrepreneurs in the country, and fast-track blockchain technology.
In a statement issued on Sunday, 4th September 2022, the Nigeria Export Processing Zones Authority -NEPZA, reported that the partnership was aimed at building a digital hub, a lot similar to the Dubai virtual free zone.
Bloomberg reports that the federal government is targeting digital technology to promote the diversification of the nation’s economy away from crude oil by taking advantage of an ever-increasing connected and youthful population.
Cryptocurrency has gained very considerable acceptance amongst the Nigerian youth for the past few years.
A research by crypto price tracker, CoinGecko, disclosed that Nigerians were showing more interest in cryptocurrencies than any other country since the value of the digital assets began to decline in April 2022.
