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Nairametrics
Home Business News

FG to generate over N125 billion revenue as it launches 5-year roadmap on data protection

Chike Olisah by Chike Olisah
December 13, 2023
in Business News
FG to generate over N125 billion revenue as it launches 5-year roadmap on data protection
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The Federal Government through the Nigeria Data Protection Commission (NDPC) on Wednesday launched the Nigeria Data Protection Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027) in Abuja.

The action plan is expected to generate over N125 billion in revenues with about 500,000 jobs expected to be created.

The National Commissioner of the NDPC, Dr Vincent Olatunji, at the launch, said that the NDP-SRAP and the training were important to enable the commission to achieve its mandate of having a robust data protection sector.
The launch of the 5-pillar NDP-SRAP was held concurrently with a capacity-building workshop on Data Privacy and Protection for Data Protection Officers.

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The 5 pillars are governance, ecosystem and technology, human capital development, cooperation and collaboration as well as funding and sustainability.

What the NDPC boss is saying

Olatunji reminded the audience that part of the “Renewed Hope’’ agenda of President Bola Tinubu’s administration was to create about 2 million jobs in the digital economy sector, adding that the data protection sector alone could create more than 500,000 jobs.

He said,

  • “The NDP-SRAP comprises interlinked initiatives and activities like job, wealth creation, human capital development, revenue generation, foundational initiatives for the digital economy, and enhancing Nigeria’s global reputation.
  • “These activities are expected to create about 500,000 jobs, generate revenue of more than N125 billion and expand the sector within the lifespan of this roadmap.
  • “The roadmap will contribute to the growth of the country’s international businesses and its global competitiveness in human capital.
  • “In security, it is one area that will check malicious use of identity; unauthorized access to people’s data and information used for various things; build trust and improve the global perception of Nigerians.’’

He added that jobs in the data protection sector were not limited to any profession because the NDP-SRAP has more than 69 activities embedded in the 5 pillars.

According to him, public institutions, the private sector, civil society organisations, and the media have roles to play to ensure an effective action plan.

NDPC to endorse a Data Protection, Certification body

The NDPC boss said the commission was considering endorsing a Data Protection and Certification body where certified professionals worked as obtainable in global practice.

Olatunji lamented that certified professionals in Nigeria had foreign certifications, which were expensive to obtain through examinations and the annual renewal of the certifications.

He said,

  • “We have the competence to have our home-grown solutions and certifications that compare favourably with those around the globe.’’

He explained that the roadmap took one year to prepare and was recognized in the “Renewed Hope’’ agenda mandates and the blueprints of the Ministry of Communications and Digital Economy.


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Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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