Adewole Adebayo has promised to implement cryptocurrency and create up to 30 million jobs for Nigerians if he is elected President of the country.
Adewole Adebayo – one of the main candidates to become the next President of Nigeria – has promised to use blockchain technology and cryptocurrency to create up to 30 million job vacancies for locals.
Unemployment is one of the country’s main problems, peaking at nearly 10% this year.
Cryptocurrencies to the rescue
During a recent televised appearance, Nigeria’s Social Democratic Party (SDP) presidential candidate – Adewole Adebayo – vowed to solve the nation’s unemployment problem by deploying new technologies. various, including blockchain and digital currency.
The 50-year-old attorney said he discussed the idea with the American Black Chamber of Commerce and the National Chamber of Commerce. He has worked as an extensive consultant to people from these organizations, ensuring that they have created numerous job vacancies globally over the years:
“I said to them, ‘Look, you know we’ve done these things before in many countries, and I’m your advisor, and we’ve done all these things. I know the objective conditions we can create for you to come to Nigeria, and we can create jobs.”
Nigeria’s unemployment rate has been steadily increasing over the past decade, reaching close to 10% by 2022. Adebayo believes his administration could eventually join forces with 2,000 crypto companies in the country and dramatically reduce those. that number:
“We found that we could create 10 – 30 million jobs – employ 2,000 companies and bring the manufacturing they were doing into the country.”
Adebayo’s engagement with the crypto space could help him win more votes as locals have already shown their sympathy for the asset class.
A study by KuCoin estimated in April that 33.4 million Nigerians (35% of whom are 18 to 60 years old) have owned or traded digital assets in the previous six months. According to the research, the main reason for the significant adoption is the lack of proper fiat-based opportunities in many parts of the country.
The current rate of inflation nationwide has surpassed 20%, reaching a 17-year high. Hostile macroeconomic conditions, combined with the collapse of the Nigerian naira, have led many locals to invest in bitcoin and stablecoins in an attempt to preserve some of their wealth.
Another survey recently found that Nigeria is the most crypto-curious country globally. Local residents tend to enter the stages of “buy crypto,” “invest in crypto,” and “buy crypto” on Google.