DATA CONTROL DRIVES DIGITAL ECONOMY GROWTH, SAYS TECH ENTREPRENEUR

A leading tech entrepreneur has emphasised that effective data control and localisation policies are critical drivers of Nigeria’s digital economy expansion.

Stakeholders note that the Nigeria Data Protection Act and related regulations have created new opportunities in compliance, cybersecurity, and digital infrastructure, with the data protection ecosystem growing rapidly to N16.2 billion within three years.

Experts highlight that data sovereignty enhances investor confidence, strengthens regulatory oversight, and reduces reliance on foreign infrastructure. Local data hosting is expected to stimulate domestic cloud services, AI development, and innovation while retaining economic value within the country.

The Central Bank of Nigeria’s data localisation directive for financial institutions is seen as a catalyst for billions in infrastructure investment, positioning Nigeria as a regional digital hub. Tech leaders advocate for broader application across sectors to support sustainable growth.

As Nigeria pursues a $1 trillion economy, data governance is increasingly viewed as foundational to digital transformation and competitiveness.