Nigerian government plans to tokenize real estate to increase revenue

The Lagos State government in Nigeria has announced a real estate tokenization plan that will use Blockchain technology to improve the transparency, efficiency, and convenience of real estate transactions. The tokenization plan will last for 16 months and will be led by the Ministry of Technology in collaboration with various institutions and partners. These institutions will use the 500 million naira (314,465 US dollars) budget allocated by the state government to support the plan.