Nigeria has not accepted crypto fully, so it's hard for such proposals to even be submitted, and it will be hard for it to pass ruling, and even if Bitcoin is being adopted by the Nigerian government using it as part of their reserve, they won't be the first African country to own Bitcoin; the Central African Republic already approved Bitcoin as a legal tender since
Nigeria needs more than Bitcoin adoption to boost our economy and our country's currency; the government should start by tackling the loopholes that contribute greatly to our currency devaluation. Too much depending on importation and the excessive need and use of foreign currency are also part of the reason for our currency devaluations.
Nigeria needs more than Bitcoin adoption to boost our economy and our country's currency; the government should start by tackling the loopholes that contribute greatly to our currency devaluation. Too much depending on importation and the excessive need and use of foreign currency are also part of the reason for our currency devaluations.
You have just given the most precise response to OP. Nigeria is still developing so we can't really copy everything the United States are doing. Perhaps, even if Bitcoin becomes a reserve currency in Nigeria, it's benefits will still return to the so called corrupt leaders and not improve the economy of the country in any way. Sharing same understanding with you, i agree that what will boost our economy is Nigeria is beyond bitcoin adoption, so it is. A lot of things need to be set in place before the country can experience massive growth in our economy. True that bitcoin adoption will help the country a lot but it's not a prerequisite that our redemption will come from bitcoin.
