Nigeria’s data protection industry is set to generate ₦13.8 billion in revenue by 2025. This projection marks a 15% rise from the ₦12 billion recorded in 2024. Dr. Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Commission (NDPC), shared this during an interview with the News Agency of Nigeria (NAN) in Abuja.
Olatunji explained that the increasing number of Data Protection Compliance Organisations (DPCOs) is a major reason for this growth. These organisations help companies follow Nigeria’s data privacy laws. They offer services like compliance audits and employee training on data handling.
Some DPCOs charge between ₦10 million and ₦20 million for audits, especially when working with international firms. Each organisation typically employs between five and ten people, depending on how many clients they serve. This setup continues to create jobs in Nigeria’s growing tech and compliance sector.
The NDPC has licensed 256 DPCOs since the initiative began, with 55 new ones joining in early 2025. Olatunji said the commission expects total revenue to grow as more people and companies use data compliance services. He added that earnings from both the DPCOs and their staff, including related services, contribute to the full revenue estimate.
Olatunji said Nigeria has become a model for other African countries in data protection and privacy. However, he believes the country still needs to do more. He emphasized the importance of building a strong culture of compliance across all sectors. According to him, this will help attract investors and support Nigeria’s digital economy.
“Our goal is to create a system that supports job growth, attracts international investors, and positions Nigeria as a leader in data privacy,” he said.
Nigeria Data Protection Act Strengthens the Legal Framework
President Bola Tinubu signed the Nigeria Data Protection Act (NDPA) into law on June 12, 2023. This law replaced the old Data Protection Regulation from 2019 and now serves as Nigeria’s main legal guide for data privacy. The NDPA moved the responsibility from NITDA to the NDPC, giving the commission full control over data regulation.
Despite facing challenges like low funding, Olatunji remains confident that the data protection sector will continue to grow. He believes the industry will play a big role in building a safer and more trusted digital space for Nigeria’s future.
- SEC Drops Binance Case in Crypto Policy U-Turn
- Nigeria and Mali Face Surge in DDoS Attacks, Report reveals
- EFCC Recovers Funds from CBEX Crypto Scam—Ola Olukoyede
- Nigeria Urged to Tackle Rising Cyber Threats with Unified Action
- TeKnowledge Unveils AI-First Services, Renews Focus on Nigeria
- PWAN Counters SEC’s Ponzi Scheme Allegation
6 replies on “Nigeria Data Protection Sector to Generate ₦13.8 Billion in 2025”
[…] Group Plc, the parent company of VBank and a top investment firm in Nigeria, has announced its audited financial results for 2024. The new report shows an amazing recovery and […]
[…] papers and debt notes and also laid off 40% of its workforce. This move came as retail investors in Nigeria started looking for safer, low-risk investment options due to a slowdown in venture capital […]
[…] base by unveiling an online registration platform and identity cards for members both within Nigeria and across the […]
[…] Ministry urged Nigerians, particularly youths and parents, to exercise extreme caution when presented with offers promising […]
[…] the company announced plans to roll out loans for drivers in several African countries, including Nigeria, Kenya, Ghana, Tanzania, Namibia, and Botswana. The aim was to help drivers manage financial […]
[…] a fresh move to strengthen Nigeria’s data protection ecosystem, the Nigeria Data Protection Commission (NDPC) has partnered with Mastercard to train professionals on how to better handle citizens’ […]