Post
Topic
Board Nigeria (Naija)
Re: How can crypto impact agricultural financing?
by
Princess Leah
on 23/08/2024, 10:41:55 UTC
No be lie say, the economic drive for we nation don experience a major shift way don push focus from Agriculture to the Oil sector as, na watin Dey generate the most for oil producing nations around the world today and Nigeria despite say, we be one of these Oil producing nation states, we never use am in a way way e go reflect for our economic wella due to looting.

However, some of the issue way you present here, e no really be as I see am.

Due to bad governance looting done become normal thing by government officials whereby government go allocate funds to different ministry to develop their various sectors and promote economic growth but the some workers go dey embezzle public funds then come up with excuses without some of those ministries giving accounts of the funds.
 
 Take for example, sometime ago for the ministry of education when one jamb clerk claim say snake swallow 36 million naira and the ministry of education been no fit give account of the money if not for the intervention of the EFCC. Now Cryptocurrency through the help of Bitcoin blockchain go provide transparency come make sure dem go give account of the allocated funds in case them embezzle am.

 Eh go help for every sector including the ministry of Agriculture, because funds wey government allocate through Bitcoin to that sector, dem go use am accordingly without being looted due to the security and transparency of Bitcoin. Also eh go enable fast transactions between farmers and consumers  including the fact say eh go enable easier and faster mode of payment when government wan import farm tools for farmers.