Dr Vincent Olatunji, the National Commissioner of the Nigeria Data Protection Bureau, announced that the sector had generated total revenue of N5.5 billion, significantly contributing to the country’s Gross Domestic Product.
Dr Olatunji emphasized the bureau’s crucial role in bolstering Nigeria’s GDP during the executive session of the Nigeria-Netherlands Economic Consultation held in Abuja on Wednesday. He highlighted Nigeria’s leading position in data protection across Africa, given its population of over 200 million people, surpassing other nations.
“While EU countries have already implemented data protection measures, Nigeria has taken the lead in Africa due to its vast population. We have established a robust framework to instil confidence and trust in all trade and commercial activities. One of the primary objectives of the Nigeria Data Protection Regulation (NDPR) is to enhance the global competitiveness of businesses within our country,” stated Dr Olatunji.
He further revealed that the sector’s collective earnings amount to N5.5 billion, substantially contributing to Nigeria’s GDP.
Dr Olatunji assured the Dutch citizens that their data remains secure in Nigeria. He explained that the Nigerian government had implemented adequate safeguards through the Nigeria Data Protection Regulation and establishing the Nigeria Data Protection Bureau.
Seeking collaboration in implementing data protection regulations and laws, Dr Olatunji proposed a partnership for peer review between the two countries and other potential areas. He expressed enthusiasm for working together to raise awareness, build capacity, and promote data protection’s importance, recognizing it as the foundation of the global digital economy.