Nigeria to train 1,000 youth on blockchain, AI annually to ‘overtake’ advanced economies

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Nigeria has launched yet another initiative to promote blockchain and artificial intelligence (AI). This time, it aims to train at least 1,000 young minds annually on these and other emerging technologies to keep up with advanced economies.

Vice President Kashim Shettima announced the AI and Blockchain Technology Training and Outsourcing Initiative in the Northern Nigerian state of Jigawa. He claimed that through such initiatives, Nigeria can overtake more advanced economies.

AT LAUNCH OF BLOCKCHAIN OUTSOURCE/MSMES CLINIC IN JIGAWA:

Nigeria Poised To Overtake Other World Economies, Technologies – VP Shettima

* Announces FG’s N150,000 grant for each business owner

* Partners with Gluwa to train 1,000 tech experts annually

The Vice President,… pic.twitter.com/GfB2KwDmsH

— Senator Kashim Shettima (@officialSKSM) July 23, 2024

The Nigerian government is partnering with Gluwa on the initiative. The local blockchain company has been working with the government on other initiatives, including partnering with the Central Bank of Nigeria (CBN) to integrate a credit system into the eNaira network.

“We are not merely catching up with the rest of the world; we are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future,” the VP said.

The latest move aims to establish a network of tech hubs across Nigeria to spur innovation in the latest technologies. The end goal is to make Nigeria one of the premier destinations for global giants seeking to outsource their tech needs, “creating a model that combines global expertise with local talent.”

Tech outsourcing has been growing aggressively for years, and the 2020 pandemic and consequent work-from-home culture only fanned the flames. Studies reveal that up to 40% of tech jobs will be outsourced this year; in 2023, IT outsourcing expenditure hit $520 billion and will continue to grow for years.

The latest initiative builds on the Nigerian government’s continued investment in blockchain advancement in Africa’s largest economy. Earlier this month, the country kicked off the implementation of the national blockchain policy, spearheaded by NITDA.

The country is also weighing launching its own national blockchain network in a push for data sovereignty. Dubbed Nigerium, the new network was proposed by local academics to the National Information Technology Development Agency (NITDA), which pledged to consider its suitability to President Tinubu’s vision of a digital Nigeria.

However, despite the government’s blockchain push, industry experts say the technology is limited by a lack of enabling policies.

“The lack of regulations has hindered the industry more than it has safeguarded it,” Obinna Iwuno tells CoinGeek.

Iwuno is the president of the stakeholders of the Blockchain Association of Nigeria (SiBAN). He added that all stakeholders must be involved in formulating the regulatory framework to strike a balance between protecting investors and promoting innovation.

Watch: The future has already arrived in Nigeria