Nigeria’s information safety ecosystem is on monitor to generate N13.8 billion in income in 2025, a 15% enhance from the N12 billion recorded in 2024.
This projection was made by the Nationwide Commissioner of the Nigeria Knowledge Safety Fee (NDPC), Dr. Vincent Olatunji, throughout an interview with the Information Company of Nigeria (NAN) on Thursday in Abuja.
In keeping with Olatunji, the projected development is pushed by the rising variety of Knowledge Safety Compliance Organisations (DPCOs) and the increasing scope of information compliance companies within the nation.
“These are companies we’ve opened up by licensing professionals and expert personnel to offer compliance companies to information controllers and processors,” he stated.
DPCOs assist companies perceive and implement Nigeria’s information safety legal guidelines. Their companies vary from compliance audits to privateness coaching, with some reportedly charging as a lot as N10 million to N20 million for information audits, particularly when coping with multinational companies.
“If you carry collectively what the organisations and their workers earn, together with the assist companies round compliance, that’s how we estimate the whole income,” Olatunji defined.
“We’re three years into constructing this information safety and privateness ecosystem, and whereas Nigeria is already seen as a mannequin by some African nations, we all know there’s nonetheless quite a lot of work to do,” he added.
Olatunji emphasised that the final word aim is to embed a tradition of compliance throughout sectors, making a trusted setting for buyers and serving to the nation’s digital financial system develop.
“We wish an ecosystem that helps job creation, attracts international funding, and initiatives Nigeria as a pacesetter in information privateness and safety,” he stated.
Nigeria’s information safety panorama obtained a significant improve with the signing of the Nigeria Knowledge Safety Act (NDPA) into legislation by President Bola Tinubu on June 12, 2023.
