5 Important Considerations in Strengthening the Security of Nigeria’s Digital Economy

By Oma Martins Okonkwo, CRISC, CISA

As digital technologies reshape commerce, governance, and everyday life in Nigeria, the country finds itself at a critical juncture. While digital expansion fuels economic inclusion and innovation, it also introduces significant cybersecurity risks. In 2024 alone, Nigeria ranked among Africa’s most targeted nations for ransomware, highlighting the urgent need for a robust and coordinated security response (INTERPOL). In this publication, I will be highlighting five essential focus areas to help secure Nigeria’s digital future.

1. Modernizing Cyber Laws and Enhancing Enforcement

Nigeria’s existing cybercrime legislation offers a basic framework for dealing with digital threats, yet it often struggles to match the pace of new and sophisticated attack vectors. The challenges range from outdated statutes and jurisdictional overlaps to limited coordination among agencies tasked with enforcement. This has resulted in a low prosecution rate for cybercrime, weakening deterrence.
Nigeria must urgently update its legal instruments to reflect today’s realities—such as cryptocurrency fraud and AI-generated scams—while equipping law enforcement with the tools and training needed to tackle digital crimes effectively. Centralized cybercrime units and inter-agency cooperation mechanisms will be vital in ensuring swift response and justice delivery.

2. Expanding the Nation’s Cybersecurity Workforce

A significant hurdle to Nigeria’s digital security is the shortage of trained cybersecurity professionals. With less than 9,000 certified experts serving a population of over 220 million (Vanguard), the imbalance places enormous strain on critical infrastructure and government institutions.
To close this gap, cybersecurity must be embedded into education systems from secondary to tertiary levels. Incentives for youth to pursue cybersecurity careers—including scholarships, mentorship programs, and access to local certification—can help retain talent within the country. Addressing the “brain drain” phenomenon will also require structured career pathways and competitive opportunities at home.

3. Encouraging Homegrown Cybersecurity Solutions

Heavy reliance on imported technologies has introduced risks that are both economic and strategic. In 2024, Nigeria reportedly spent over $400 million on foreign software licenses (Deloitte), with limited assurance on how these tools align with local realities.
Empowering local cybersecurity companies to design, deploy, and support solutions tailored to Nigeria’s context can address this gap. Forward-looking policies that prioritize indigenous innovation in government procurement, support incubators, and provide financial incentives to startups will help Nigeria build solutions that are both secure and self-sufficient. Success stories like esentry show the potential of this approach.

4. Building a Coordinated Threat Intelligence Ecosystem

Cyberattacks today are fast-moving, multi-vector, and highly coordinated. Responding to them effectively requires seamless cooperation between stakeholders. Unfortunately, threat intelligence sharing between the public and private sectors in Nigeria remains limited and reactive.
A National Threat Intelligence Exchange—backed by legislation, clear protocols, and privacy safeguards—could transform this landscape. By creating a trusted environment for real-time data sharing, Nigeria can detect and mitigate risks more efficiently. Encouraging sector-specific CERTs and periodic joint simulation exercises will also boost national readiness (IJSRA).

5. Investing Strategically Based on Risk Prioritization

Forecasts estimate that Nigeria’s cybersecurity market will exceed $230 million by 2025 (Statista). However, more important than the size of the budget is how it’s used. Cybersecurity investments must be aligned with actual risk profiles and maturity levels across sectors.
Tools such as cyber maturity assessments and zero-trust models can guide this strategic alignment. High-risk sectors—like finance, healthcare, and energy—should be prioritized for cutting-edge defenses, while policies should encourage organizations to track and report cybersecurity performance. Strategic investment can turn digital risk management into a catalyst for long-term economic resilience.

Protecting a Vision Worth Believing In
Nigeria’s ambition to lead Africa’s digital renaissance is inspiring. The true test of progress isn’t how fast we digitize, but how safely we do so—ensuring that every student accessing online education, every business processing mobile payments, and every government agency delivering e-services does so with confidence and protection.
This is not just a technical mission—it is a national purpose. If we get it right, cybersecurity will become more than a shield. It will be the scaffolding for a more resilient, prosperous, and inclusive Nigeria. Now is the time to act—not in fear, but in foresight.