Nigeria targets N13.8 billion in data protection revenue for 2025 

This projection was made by the National Commissioner of the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, during an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.

According to Olatunji, the projected growth is driven by the increasing number of Data Protection Compliance Organisations (DPCOs) and the expanding scope of data compliance services in the country.

“These are businesses we’ve opened up by licensing professionals and skilled personnel to provide compliance services to data controllers and processors,” he said.

DPCOs help businesses understand and implement Nigeria’s data protection laws. Their services range from compliance audits to privacy training, with some reportedly charging as much as N10 million to N20 million for data audits, especially when dealing with multinational firms.

“When you bring together what the organisations and their employees earn, including the support services around compliance, that’s how we estimate the total revenue,” Olatunji explained.

“We’re three years into building this data protection and privacy ecosystem, and while Nigeria is already seen as a model by some African countries, we know there’s still a lot of work to do,” he added.

Olatunji emphasized that the ultimate goal is to embed a culture of compliance across sectors, creating a trusted environment for investors and helping the country’s digital economy grow.

“We want an ecosystem that supports job creation, attracts foreign investment, and projects Nigeria as a leader in data privacy and protection,” he said.

Nigeria’s data protection landscape got a major upgrade with the signing of the Nigeria Data Protection Act (NDPA) into law by President Bola Tinubu on June 12, 2023.