Nigerium can be viewed as a path toward fully undermining the dominance of the US dollar over other countries, Professor Kehinde A. Adetiloye at Covenant University told Sputnik Africa.
"There has to be a trajectory towards a complete dismantling of the dollar and its hegemony on countries. So this is just where we are right now. […] De-dollarizing is a momentum. It has started," he said.
This domestic initiative has the potential to cultivate a thriving startup ecosystem in Nigeria, leading to job creation and technological progress. According to John O. Oladipo, a blockchain expert and Senior Partner at Chayfield Law Practice, a robust blockchain ecosystem like Nigerium can also combat money laundering and corruption.
Deborah Ojengbede, Co-founder of AFEN Blockchain Group and 2022 winner of the Women in Web3 & Blockchain Technology award in Nigeria, added that the initiative could spur the development of new businesses, provide global investment opportunities, and offer cheaper remittances, which are vital for many African economies.