Nigerian Government Plans to Tokenize Real Estate to Increase Revenues

The Lagos State Government in Nigeria has announced a real estate tokenization program that leverages Blockchain technology to improve transparency, efficiency, and ease of transfer in real estate transactions. The tokenization program will run for 16 months and will be led by the Department of Science and Technology (DST) in collaboration with various agencies and partners. The agencies will leverage the N500 million ($314,465) budget allocated by the state government to support the program.