Director General of National Information Technology Development Agency (NITDA), Kachifu Abdullahi, says Nigeria’s Cybersecurity Market is expected to rake in a whopping 345.43 million in profits by 2029

Speaking at a joint press conference by NITDA, Office of the National Security Adviser (ONSA), and QNA in Abuja, Monday, Abdullahi revealed that the growth is be driven by rapid digital economy expansion which triggered a growth of $207.80 million in 2024 and expected to reach $345.43 million by 2029.

According to him, Nigeria’s digital economy has seen rapid growth, contributing 17.68 per cent to our GDP in 2024, overtaking the oil and gas sector.

Abdulahi revealed that Nigeria is now regarded as Africa’s top hub for start-ups. after its 5G networks expanded to more cities and broadband reached over 134 million users (a 44.4 per cent penetration rate).

“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,” he said

As part of its plans to prepare Nigeria’s youth for global tech opportunities in cybersecurity. the NITDA Director General emphasised that the federal 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,