Director General of National Information Technology Development Agency (NITDA), KachifuAbdullahi, has stated that the country’s cybersecurity market would hit $345.43 million by 2029, citing Mordor Intelligence report. Abdullahi stated this at a joint press conference by NITDA, Office of the National Security Adviser (ONSA), and QNA in Abuja, Monday.

The press conference was to announce the maiden National Cybersecurity Conference (NCSC) 2025, holding between June 7 and 10, with the theme, “Building a Resilient Digital Future.”

Abdullahi said the country’s digital economy had seen a rapid digital growth of $207.80 million in 2024 and was expected to reach $345.43 million by 2029.

He explained, “The country’s digital economy has seen rapid growth, contributing 17.68 per cent to our GDP in 2024, overtaking the oil and gas sector.

“With 5G networks expanding to more cities and broadband reaching over 134 million users (a 44.4 per cent penetration rate), Nigeria has become Africa’s top hub for start-ups.

“According to Mordor Intelligence’s report, this digital growth has also boosted Nigeria’s cybersecurity market, valued at $207.80 million in 2024 and expected to grow to $345.43 million by 2029, with faster growth projected to reach 14.6 per cent annually.”

Abdullahi disclosed, “The Nigerian government is investing heavily in creating a digitally secure environment through various initiatives, such as: 3 Million Tech Talents (3MTT) Initiative, which aims to train three million tech professionals by 2027, preparing Nigeria’s youth for global tech opportunities including cybersecurity.”

He added, “These efforts are already creating results. Nucamp’s February 2025 report predicts that by 2025, Nigeria’s cybersecurity sector is expected to create 20 per cent more job opportunities, with entry-level salaries ranging from N4 million to N6 million annually.”

He emphasised, “The digital age has brought incredible opportunities for innovation and economic growth. However, it has also created serious cybersecurity challenges.

“In Nigeria, the emergence of sophisticated cyber-attacks, often powered by Artificial Intelligence (AI), highlights the urgent need for robust preventive measures.

“Focusing on equipping the nation’s youth with skills in technology and digital innovation can harness their talents for positive contributions.”

In his remarks, Coordinator, NCSC 2025, Mr. Ahmad Abubakar, said, “As we continue to embrace digital transformation across all sectors of our economy, it is crucial that we also strengthen the security and resilience of our digital infrastructure. Cyber threats are evolving rapidly, and their potential impact on national security, economic stability, and public trust cannot be overstated.”

On his part, Managing Director, QNA, AnkitShukla, stated that the National Cybersecurity Conference 2025 was a gateway for global technology leaders, investors, and policymakers to engage with the region’s rapidly growing digital economy, with QNA as a strategic partner.

“This is Nigeria’s moment to lead and secure region’s digital transformation,” he added.

Abubakar said, “As we currently migrate all our services, all our lives, into those digital environments; we have to hold hands together and move. As we move to this environment so as criminals also migrate to that environment.”

President of Cybersecurity Experts Association of Nigeria (CSEAN), Ade Shoyinka, who was represented by HannielJafar, stated that the conference was a welcome development that would help to proffer solutions to most cybersecurity challenges facing the country.