Tuesday, July 23, 2024

Data Protection: Revenue Hits N6.2bn In 2023– Report

The Nigeria Data Protection Annual Report has disclosed that the data protection cumulative revenue of 2023 rose to N6.2 billion as against N5.5 billion in 2022.

This was revealed at the unveiling of the 2023 report at the second anniversary dinner and awards night of the Nigeria Data Protection Commission (NDPC) in Abuja, Nigeria.

The Commission was Established February 4, 2022, with the mandate to ensure data privacy and protection in the country, rights of citizens are in line with global standards.

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In the Compliance, the rates increased included Compliance Audit Report which recorded 3,451 report 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 N325 million against N94.4 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.

Speaking on the achievement so far, Head, Legal, Enforcement and Regulations of NDPC, Babatunde Bamigboye said the Nigeria Data Protection Act (NDPA) 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 Act.We have also improved on our auditing, so many organisations are beginning to file audit report 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 explained that as a member of GPA, the country could get mutual legal assistance on enforcement, on capacity building, information sharing and intergovernmental collaboration.

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

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