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Business News of Wednesday, 7 June 2023


Data protection bureau rakes in N5.5bn, says Commissioner

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The National Commissioner, Nigeria Data Protection Bureau, Dr Vincent Olatunji, has said that the sector has combined earnings of N5.5bn, contributing to the Gross Domestic Product of the country.

Olatunji who disclosed this during the executive session at the Nigeria-Netherlands Economic Consultation on Wednesday in Abuja, reiterated the major significance of the bureau’s contribution to Nigeria’s GDP.

He stated that Nigeria leads in data protection in Africa with over 200 million people compared to other countries.

“The EU countries have gone ahead with Data Protection but Nigeria gain the lead in Africa with over 200 million people. We have put in place an appropriate structure to create confidence and trust in whatever you are doing with us in terms of trade and commerce because one of the objectives of the NDPR is to increase the global competitiveness of businesses in the country.

“We have a combined earning of N5.5bn in the sector, which is contributing to our GDP,” he said.

The NDPB commissioner further said that the personal data of the Dutch citizens are safe in Nigeria, assuring them that appropriate safeguards have been put in place through the Nigeria Data Protection Regulation and the establishment of the Nigeria Data Protection Bureau by the Federal Government.

He solicited partnership in the area of peer review in implementing data protection regulations and laws between the two countries and other areas, adding, “We are happy to work with you in the area of awareness and capacity building and spreading the gospel of data protection because it is the key, the bedrock of the global digital economy.”