Nigeria’s Digital Economy Threatened By Cyberattacks – Pantami

Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, says cyberattacks threaten the country’s digital economy.

He spoke at a cybersecurity workshop in Abuja organized by his ministry in partnership with the World Bank.

Pantami highlighted that cyber threats are an ever-present problem for businesses and organizations worldwide. He stressed that protection is urgently needed with Nigeria’s digital economy expanding.

He says, “It is important to note that cybersecurity is a global issue, and collaboration between organizations is essential to combating cyber threats. In Nigeria, the digital economy is rapidly growing, and with that growth comes the need for heightened cybersecurity measures and robust partnerships like the one with the bank.”

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Quoting a report by the Africa Cybersecurity Report, Pantami noted that “cyberattacks in Africa have increased by 300 percent over the last year alone”. He said this trend is particularly problematic given the rise of Africa’s digital economy, which the World Bank predicts could be worth $180 billion by 2025, representing a significant opportunity for growth and development across the continent.

Pantami emphasized that a robust cybersecurity strategy is essential to protecting Nigeria’s digital infrastructure, businesses, and citizens.

He said the workshop is crucial for securing Nigeria’s cyberspace. It will also build stakeholders’ capacity to handle cybersecurity issues.

The minister confirmed that the government is committed to developing resilient cybersecurity. He added that the government is addressing privacy concerns through the Nigeria Data Protection Bureau (NDPB). All relevant stakeholders are involved in this process.

In addition, he appreciated the World Bank for its various interventions in Nigeria toward fully implementing a digital economy. Pantami said secure cyberspace requires a collaborative effort from all stakeholders, including the private sector, civil society organizations, and academia. “This is because the task of securing our cyberspace cannot be achieved by the government alone,” he said.