Web3
August 14, 2024 7:56 PM
The Lagos State Government in Nigeria has announced an ambitious plan to tokenize real estate assets on the blockchain.
As part of the Eko Revenue Plus Summit, this initiative aims to increase internal revenue by leveraging blockchain technology for real estate transactions.
The project, expected to span 16 months, will be executed by the Ministry of Science and Technology in collaboration with other agencies and partners.
With a budget of 500 million naira (approximately $314,465), the tokenization process will modernize how real estate is managed and monetized in Lagos, potentially setting a precedent for other regions.
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