The Nigeria Data Protection Commission (NDPC) has projected N13.8 billion revenue from data protection ecosystem in 2025 as against N12 billion generated in 2024.
Dr Vincent Olatunji, National Commissioner, NDPC said this on Thursday during an interview with the News Agency of Nigeria (NAN) in Abuja.
He said the figure represents approximately 15 per cent increase in the amount generated the previous year.
He said data protection receipts would play a major role as Nigeria seeks to bolster its digital economy.
“The projection will have to do with number of Data Protection Compliance Organisations (DPCOs) registered. These are businesses we have been able to open up by licensing professionals, skilled personnel to set up their businesses.
“They go to data controllers and processors and help them understand privacy and take them through compliance to the law.
“The average data processor, controller will employ about five to ten people depending on the number of their clients.
“Some of them collect as high as N10 million to N20 million for audit filing for multinational companies.
“When you bring all these together and what they earn, the entire staff, that is how we were able to arrive at that figure and they also do a lot of support services that have to go with compliance,’’ he said.
The DPCOs are licensed entities that assist businesses in Nigeria with complying with data protection laws and regulations.
“The figure for this year may not double but we are looking at 15 per cent increase added to the N12 billion of last year.
“We are trying to get to the level where we see compliance as a culture.
“It will generate money for government and give comfort to whoever coming to your facility or coming to do business with you,’’ Olatunji said.
According to him, last year, the commission registered about 256 DPCOs and few months into this year, it added 55 DPCOs.
The National Commissioner said that paucity of funds had limited the commission from achieving some of its mandates.
Olatunji said three years into building the data protection, privacy ecosystem, the ultimate aim far from being achieved and acknowledged that it remained a work in progress.
Olatunji said though Nigeria was already a model to some African countries in data protection efforts he expects the sector to perform better in the next five years.
“We want to build an economy that have the culture of compliance, an ecosystem that is adaptive to revenue generation for government, contribute to our Gross Domestic Product.
“We see a country where an average foreign investor will come in and have trust, confidence in our digital economy.
“We are building an ecosystem that will project Nigerians positively in the commity of nations, drive direct foreign investment, generate revenue, create massive jobs and wealth for our youths,’’ he said.
NAN recalls that the Nigeria Data Protection Act (NDPA) was signed into law in 2023. The Act establishes the legal framework for the regulation of personal data in Nigeria
It replaces Data Protection Regulations (NDPR) of 2019 and NDPR Implementation Framework (2019) captured under the National Information Technology Development Agency (NITDA) Act.
