Nigeria Aims for $18.3bn Digital Economy by 2026

During the ongoing IoT West Africa 2026 conference in Lagos, Dr. Vincent Olatunji, CEO of the Nigerian Data Protection Commission (NDPC), urged stakeholders to develop robust data economy strategies to help Nigeria achieve an $18.3 billion digital economy by 2026. This projection anticipates that the digital economy will contribute 20% to Nigeria's GDP and double in value over the next five years.

Olatunji highlighted the critical role of data infrastructure, including cloud and IoT technologies, in driving economic growth. He noted that Nigeria has seen a 90% increase in data generation over the past 15 years, with expectations to generate 221 gigabytes by the end of 2026.

However, this surge in data has also led to increased cybercrime, with Nigerian organizations experiencing approximately 4,000 attacks weekly. Panelists, including Mr. Johnson Agogbua and Prof. Ibrahim Adeyanju, discussed the importance of digital twins in optimizing data center operations and enhancing efficiency, which will further support Nigeria's digital economy strategy.