Nigeria’s cybersecurity market is on a steady growth path and is projected to reach $345.43 million by 2029, according to Kachifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA).
Abdullahi made the disclosure during a joint press conference in Abuja with the Office of the National Security Adviser (ONSA) and QNA. He attributed the market growth to the country’s rapidly expanding digital economy, which, he said, contributed 17.68 percent to Nigeria’s GDP in 2024—surpassing even the oil and gas sector.
“This momentum is fueling robust growth in the cybersecurity space,” Abdullahi said. “The market is currently valued at $207.80 million and is expected to grow at 14.6 percent annually, reaching $345.43 million by 2029.”
He noted that Nigeria is now recognised as Africa’s top hub for start-ups, boosted by broader 5G coverage and over 134 million broadband users, representing a 44.4 percent penetration rate.
Despite the progress, the NITDA boss raised concerns about inefficiencies in public sector technology deployment. He revealed that 56 percent of government IT projects have failed due to lack of uniform design and implementation standards.
“We need unified design standards for government IT projects to ensure sustainability and interoperability,” he stated.
To bridge the cybersecurity talent gap, Abdullahi said the federal government is investing in youth training through initiatives such as the 3 Million Tech Talents (3MTT) programme, aimed at training three million young Nigerians by 2027 in digital skills, including cybersecurity.
“We’re not just preparing our youth for jobs in Nigeria, but for global opportunities,” he said. “Cybersecurity is one of the most in-demand skills in the world, and Nigeria must not be left behind.”
Abdullahi emphasised that as Nigeria transitions to a knowledge-driven economy, cybersecurity must be treated as a national development priority rather than an afterthought.
