Nigeria Data Protection Sector records ₦6.2 billion revenue in 2023

News Agency Of Nigeria

February 5, 2024 12:50 PM

Reports states that the sector was able to create 10, 123 jobs in 2023 against 9,577 in 2022.

Nigeria Data Protection Sector records ₦6.2 billion revenue in 2023 [LinkedIn]

The Nigeria Data Protection Annual Report has revealed that the 2023 data protection cumulative revenue rose to ₦6.2 billion as against ₦5.5 billion in 2022.

The report was unveiled on Sunday at the second-anniversary dinner and awards, organised by the Nigeria Data Protection Commission (NDPC) in Abuja. Established on February 4, 2022, the NDPC was mandated to ensure data privacy and protection in the country, and that the rights of citizens are in line with global standards.

The report stated, “Other areas that the rates increased included Compliance Audit Report which recorded 3,451 reports from 2022 to 2023, against 1,864 from 2020 to 2021.

“The sector was able to create 10, 123 jobs in 2023 against 9,577 in 2022 and compliance revenue increased to ₦325 million against ₦94.4 billion in 2022.

“The number of verified Data Protection Officers increased from 1, 928 in 2022 to 1,955 in 2023, number of investigations rose from 117 in 2022 to 177 in 2023, among others.”

Babatunde Bamigboye, Head, Legal, Enforcement and Regulations of NDPC, described the successes of the commission as most remarkable.

“The NDPA laid the foundation for data privacy and protection in the country, we are putting together the general application and implementation directive for the Nigeria Data Protection Act (NDPA)

“We have also improved on our auditing. So, many organisations are beginning to file audit reports with us and we have been admitted into the Global Privacy Assembly (GPA).

“The court also is beginning to recognise the importance of adequacy in terms of cross-border data transfer and we are happy that the ecosystem is evolving and getting stronger,’’ he said.

He explained that as a member of GPA, the country could get mutual legal assistance on enforcement, capacity building, information sharing, and intergovernmental collaboration.

Some other achievements, he added, were the launch of Nigeria Data Protection Strategic Roadmap and Action Plan 2023 -2027, and commencement of bilateral cooperation with other jurisdictions, issuance of the Data Protection Compliance Organisations code of conduct.

News Agency Of Nigeria