States Must Strengthen Data Protection to Attract Investment

The Nigeria Data Protection Commission (NDPC) has warned that states failing to establish robust data protection and privacy systems risk losing investment opportunities as the economy becomes increasingly digital. Vincent Olatunji, the National Commissioner and Chief Executive Officer of the NDPC, stated that effective personal data protection could enhance state credibility and attract foreign investors.

Speaking at a data privacy implementation workshop in Abuja, Olatunji highlighted the importance of data protection laws, noting that countries lacking such regulations deter business partnerships. He urged state governments to implement frameworks and policies for the Nigeria Data Protection Act rather than create separate state laws.

Olatunji reported that over 38,000 organizations are registered with the NDPC, and the number of professionals in the data protection ecosystem has grown from fewer than 1,000 to over 27,000 in three years. Bosun Tijani, Minister of Communications, echoed the sentiment, warning that inadequate privacy protection could hinder Nigeria's digital development.