Nigeria’s data regulation creates N5.2b economy, 2,600 jobs
Within 30 months of its implementation, the Nigeria Data Protection Regulation (NDPR) has created a market worth over N5.2 billion and 2,600 jobs.
This was disclosed by the National Information and Technology Development Agency (NITDA), a government body in charge of its supervision.
Specifically, the Director, eGovernment Development and Regulation, NITDA, Dr. Vincent Olatunji, who revealed this via a broadcast interview, said this was achieved through collaboration with the private sector.
The NDPR is a regulation that applies to all transactions intended for the processing of personal data, notwithstanding how the data processing is being conducted or intended to be conducted in respect of natural persons in Nigeria. This regulation applies to natural persons residing in Nigeria or residing outside Nigeria, who are citizens of Nigeria.
This regulation shall not operate to deny any Nigerian or any natural person the privacy rights he is entitled to under any law, regulation, and policy contract for the time being in force in Nigeria or in any foreign jurisdiction.
Olatunji said the NDPR is a major boost in the country’s move to enthrone the digital economy. He said diversifying the economy is more important than depending on oil now, going by what is obtainable across the global economy.
The NITDA chief said due to innovations, a lot of things are coming up that oil may not provide the critical resource. “What we are looking at now is the knowledge economy. We have the national digital economy policy and strategy under the Ministry of Communications and Digital Economy. The plan is based on seven major pillars, which include digital and developmental regulations; solid infrastructure, service infrastructure, innovation and entrepreneurship, indigenous content promotion, and digital transformation.
“If you look at all these pillars we have mentioned, what we are trying to do is to ensure that there are so many activities that will ensure we have, as a country, a robust national digital economy and their roles to be played by stakeholders and government.”
According to him, “government is to create the enabling environment for the private sector to bring investments, while the media should advocate.”
Olatunji said between when the policy was launched and now, the contribution of this sector to GDP is over 14.7 per cent as compared to less than four per cent years back, which is the new trend globally “and we cannot, as a country say we don’t want to go through that route because there is little we can depend on oil because it will get to a stage that the oil will finish. If you tie this to what we have done on NDPR, you will be amazed.
“For instance, between when we started implementing NDPR and now, we have created a market, and economy on its own that is worth over N5.2 billion, and this sector has employed over 2,600, which was within 30 months of implementing it.
“Why we have achieved this much is the fact that we are working with the private sector organization to ensure the implementation of the regulation because it is one thing to have a policy and regulation, it is another thing for it to be successfully implemented. We have licensed three firms in this area. The NDPR is directly under pillar one.”