The Governor of Lagos State, Nigeria’s biggest commercial centre and technology hub has promised to continually support the tech and blockchain industry, including cryptocurrency in the state in the next four years.
The Governor, who made the promise while engaging the Digital Currency Coalition and core technology leaders in the state, noted that the role of government is to provide an enabling environment where young people can thrive and realise their potentials.
“Lagos state has become an enviable state for startups, especially in the technology and innovation sector. Thus, we are committed to working with all stakeholders to promote the growth of the tech and blockchain industry, including cryptocurrency in Lagos State,” he said.
He said the goal of Lagos State is to create a space where startups and innovators can come together to create solutions to the challenges facing the society, emphasizing that innovation is the key to unlocking the potential of Lagos and as a governor, he is committed to supporting those willing to take on these challenges.
He added that the achievement of young people in Lagos and their success is a testimony to the potential of the state. “We will continue to support young innovators in Lagos and create opportunities for others to join them,” he assured.
Despite seemingly government ban, Nigeria has remained one of the leading countries in the world when it comes to crypto adoption. The number of people adopting cryptocurrency has continued to grow irrespective of the ambiguous legal status of digital assets in the country.
Several reports show that with a total cryptocurrency transaction volume amounting to $400M, Nigeria ranks third after the United States and Russia according to 2020 estimates.