Delivering a keynote address at the IoT West Africa Conference, held alongside the Data Centre & Cloud Expo Africa in Lagos, Olatunji highlighted the dual reality of digital transformation, immense economic opportunity coupled with escalating cybersecurity risks.

According to him, cyberattacks now occur globally every 39 seconds, with the financial impact of cybercrime projected to reach $10.5 trillion annually.

The NDPC boss noted that Nigeria alone records over 4,000 cyberattacks weekly, representing approximately 45 per cent of incidents across Africa. In 2024, these attacks resulted in financial losses exceeding ₦12 billion.

“While the digital economy continues to unlock new opportunities, it also expands the threat landscape. We must act decisively to secure our data and digital infrastructure,” Olatunji said.

Nigeria’s Digital Economy on the Rise

Highlighting the growing importance of data in the global economy, Olatunji described it as “the new oil,” powering innovations across the Internet of Things (IoT), cloud computing, artificial intelligence, and digital platforms.

He revealed that Nigeria’s digital economy is currently valued at approximately $18.3 billion and is projected to double within the next five years, driven by increased connectivity, mobile technology adoption, and investments in digital infrastructure.

Insights shared at the event also underscored the broader global impact of the digital economy. The sector is now the fastest-growing economic segment worldwide, contributing an estimated $28 trillion to the global economy, accounting for about 22 per cent of global GDP. Emerging markets alone contribute over $18.3 trillion, representing roughly 20 per cent of their GDP.

Data Explosion and Infrastructure Pressure

Olatunji further noted the unprecedented scale of global data generation, which currently stands at approximately 402.89 million terabytes daily.

This volume is expected to grow significantly, with total global data projected to rise from 181 zettabytes to 221 zettabytes in the near term.

This exponential growth, he said, is placing immense pressure on existing digital infrastructure, making data protection, privacy, and secure data management more critical than ever.

Call for Stronger Data Protection Measures

The NDPC boss emphasised that safeguarding Nigeria’s digital future requires coordinated action among government agencies, private sector players, and technology stakeholders.

He called for:

• Stronger enforcement of data protection regulations
• Increased investment in cybersecurity infrastructure
• Capacity building for data protection professionals
• Greater awareness of data privacy rights among citizens

“As data becomes central to economic growth, protecting it must become a national priority,” Olatunji stated.

A Defining Moment for Digital Transformation

The IoT West Africa platform brought together industry leaders, policymakers, and technology experts to explore the future of digital infrastructure, cloud computing, and connected technologies across Africa.

Olatunji concluded that Nigeria stands at a critical juncture where the benefits of digital innovation must be balanced with robust safeguards to ensure trust, resilience, and sustainable growth in the digital economy.

Under this new agreement, CyberKnight will have the rights to distribute Nozomi Networks products across Africa, excluding South Africa, with a particular focus on Central, East, and West Africa.

This collaboration is set to empower large enterprises and critical infrastructure sectors throughout the region with advanced protection and cybersecurity expertise.

Nozomi Networks is recognized in the Gartner Magic Quadrant for Cyber-Physical Systems (CPS) Protection Platforms.

Out of 17 vendors, Nozomi was ranked as a leader for both vision and execution, highlighting its technical strength and innovative approach.

With a remarkable 4.9 out of 5-star rating on Gartner Peer Insights, based on over 120 customer reviews, customers recognize Nozomi for its robust features, straightforward deployment, and exceptional support.

This global acclaim affirms Nozomi Networks’ role as a trusted partner for organizations seeking reliable OT, IoT and CPS security.

Nozomi Networks continues to set new standards in cybersecurity for large enterprises and essential infrastructure.

Its solutions provide real-time monitoring and threat detection, allowing organizations to oversee their OT and IoT environments with accuracy and confidence. Key features include:

• Comprehensive Network Visibility: Organizations benefit from deep insights into their operational systems, enabling proactive identification and resolution of vulnerabilities. This is essential for protecting sectors such as energy, transportation, and manufacturing.
• Advanced Threat Detection and Response: Using AI and machine learning, Nozomi’s technology identifies and responds to threats in real time, reducing the risk of disruptions.
• Predictive Analytics for Operational Efficiency: Powerful analytics help organizations anticipate challenges and streamline processes, driving productivity and competitiveness.

With its extensive network and experience across Africa, CyberKnight’s commitment to a zero trust framework ensures organizations are ready for potential breaches and resilient against threats.

This partnership with Nozomi Networks brings together advanced security technology and regional expertise, empowering enterprises across Central, East, and West Africa to confidently tackle today’s evolving cyber risks.

“Industrial and critical infrastructure organizations across Central and West Africa are rapidly adopting IoT technologies, expanding their digital footprint and, consequently, their attack surface,” said Alexander Foroozandé, head of Channels – Middle East, Africa & CIS, at Nozomi Networks. “We are dedicated to helping these organizations stay ahead of sophisticated threats with our AI-powered security solutions and strategic regional investments. Our partnership with CyberKnight is a significant step in delivering world-class OT and IoT protection and supporting the region’s digital transformation.”

“Our collaboration with Nozomi Networks opens new possibilities for African enterprises to protect what matters most,” said Avinash Advani, CEO of CyberKnight. “Together, we’re equipping organizations with the tools and intelligence they need to outpace cyber threats and drive secure, sustainable growth in an increasingly connected world.”

However, many retailers have discovered that a technology solution decision is far more complex than it would seem, and, instead, they should be investing in self-enablement.

Consider this, a retailer in a city hub, complete with its own power backup and fast connectivity, can deploy a fully cloud-based solution. This is not much unlike the markets that international vendors understand.

However, we are speaking about our unique South African context. redPanda Solutions can say unequivocally that you do not want a cookie-cutter approach that says: “I can do the same thing everywhere”.

A retailer outside of the major city regions, with smaller stores in some of the more remote areas, needs the flexibility to work in the cloud and have in-store servers. They need full redundancy to deal with connectivity and power challenges. Retail is unforgiving – an inability to trade can close doors.

A loss of skills

Unfortunately, when a retailer invests in a new software vendor there is often an acknowledgement that they are going to lose a significant number of staff because they need to be replaced with new skills to deal with new technologies.

Essentially, the retailer needs to move a substantial portion of the services to the vendor, who is that technology stack expert.

This gives rise to Software-as-a-Service (SaaS) environments and, in many cases, the loss of valuable skills and IP within a retailer. This causes a cascade of problems later on when there is no one in the organisation who knows why something was configured a certain way… until it’s too late.

This is not to say SaaS is not the right solution – in many cases it absolutely is, however, it depends on how the SaaS solution is designed and run. When a retailer finds itself in a situation where it no longer retains valuable IP, it loses the ability to do what it once could. If processes fail, no one can remember why something was done in a specific way. There most likely is a very good reason things are as they are — but because the IP is gone, no one can answer why.

Let’s look at the alternative. A retailer that retains its critical skills, and vital institutional knowledge, ensures continuity, productivity, and the ability to make informed decisions. This helps prevent knowledge gaps, process inefficiencies and an increased reliance on external vendors, which can ultimately undermine a retailer’s competitiveness.

By establishing centres of excellence or competency hubs, internal teams can develop deep expertise in core systems and processes, enabling them to troubleshoot issues, optimise performance, and drive continuous improvement.

Effective IP management also protects the organisation’s unique competitive advantages, prevents vendor lock-in, and ensures the long-term viability of the technology ecosystem. It ensures skills retention, business continuity, supports customer satisfaction and boosts employee morale, and, importantly, it protects the employer’s reputation.

Vendor lock-in

On the other hand, many retailers in South Africa are dependent on international vendors. Relying on international vendors to provide critical technology solutions and support can further compound many uniquely South African challenges that retailers face.

Unfavourable vendor dependencies can lead to significant business continuity issues, revenue losses, customer dissatisfaction and reputational damage, especially during high-volume periods such as Black Friday.

However, switching vendors when not self-enabled can turn into a costly affair which, in turn, locks organisations into suboptimal relationships.

The case for self-enablement

A retailer is self-enabled when it can take control of its technology ecosystem, reducing its reliance on external vendors. Retailers can achieve this by working with a self-enablement partner on a few, key strategies.

They should adopt open, modular architectures and develop in-house expertise and maintain control over core systems and processes.

A good self-enablement partner will help them negotiate vendor contracts that protect against excessive termination fees, price escalations, and other lock-in mechanisms. Importantly, they will be advised to diversify their vendor relationships which enables flexibility to transition to alternative providers without significant disruption to the organisation.

A self-enablement partner will ensure that retailers continuously invest in upskilling and retaining internal teams. This ensures the organisation has the necessary expertise in-house to manage the technology ecosystem and any future transitions.

This, by design, reduces a retailer’s reliance on external support.

In other words, the business maintains control over its technology stack.

Self-enablement, then, protects retailers from both suboptimal dependencies and the high switching costs and disruptions associated with switching between vendors.

The net effect of this is a retailer that’s able to take advantage of the rapid advancements in retail technology more effectively and efficiently.

These include advancements in areas such as cloud computing, edge computing, artificial intelligence, and the Internet of Things.

The result is improved agility, scalability and innovation as retailers adapt to changing customer behaviour, demands and market conditions.

As our world becomes more interconnected, everyday objects—from refrigerators to lights to jump ropes to watches to cars and medical devices—are now capable of transmitting data.

This rapid expansion brings with it remarkable conveniences but also unprecedented risks.

The very technology designed to make life easier has given rise to new vulnerabilities for cybercriminals to exploit.

In the past, cybersecurity was a task focused on protecting computers and networks. But with the explosion of IoT devices, we’re dealing with a much broader landscape. Every connected device—no matter how small or seemingly insignificant—becomes a potential target.

The stakes are higher, and the opportunities for hackers have never been more abundant. As a result, the way we approach cybersecurity must undergo a radical shift.

One of the most concerning issues I’ve observed is the severe lack of security in many IoT devices. In their rush to market, manufacturers often sacrifice security for convenience and cost savings, leaving serious vulnerabilities exposed.

A prime example is the rise of smart home devices like security cameras and thermostats, which often ship with default passwords that users never bother to change—or worse, no passwords at all.

This makes these devices an easy target for attackers. When IoT devices are breached, the fallout extends far beyond the individual.

An attack on one device could be the gateway to a much larger assault on critical infrastructure. Many IoT devices continuously transmit data, providing cybercriminals with more opportunities to intercept and manipulate sensitive information.

Looking ahead, securing IoT won’t be limited to traditional network protections. The focus will need to shift to securing entire ecosystems. As IoT devices become embedded in sectors like healthcare, transportation, and urban infrastructure, the security of these interconnected systems becomes paramount.

A vulnerability in one device can create a ripple effect, compromising entire networks. To tackle this challenge, we need to adopt a Zero Trust model—no device, regardless of how trusted it seems, should be allowed to access systems without proper verification.

Every connection, every device, requires continuous monitoring and validation to prevent unauthorized access.

I find the speed at which IoT technology is advancing to be quite alarming, and unfortunately, security measures aren’t evolving at the same pace. We cannot afford to be reactive in an age where devices could literally control everything from power grids to medical equipment.

The security frameworks of tomorrow need to be adaptive, agile, and future-proof. This will mean integrating Artificial Intelligence (AI) and machine learning into our security measures to detect threats and anomalies in real-time.

AI can quickly analyze data from multiple devices, identifying potential risks far faster than human intervention could ever manage.

Manufacturers have a crucial role in this shift. For too long, IoT devices have been released with security features as an afterthought. Security must be built in from the very beginning. This means incorporating rigorous testing, encryption, and authentication protocols into devices before they hit the market.

Looking at the broader picture, the future of IoT isn’t just about consumer devices, comfort and convenience. While smart homes, wearables, and personal gadgets have dominated the IoT conversation so far, we are rapidly moving toward a future where critical infrastructure will also rely on IoT.

Autonomous vehicles, smart cities, and connected healthcare devices are all emerging, but with these advancements come new, high-stakes risks. A security breach in a connected vehicle or a medical device could result in disastrous consequences.

The security of IoT devices is no longer just about protecting data—it’s about protecting lives. As IoT technology continues to evolve, our security strategies must also evolve to ensure that both data and human lives are safeguarded.

What does all this mean? The future of cybersecurity in an IoT-driven world is daunting, yet it is far from hopeless.

As the number of connected devices multiplies, we must become more proactive in our approach to security—anticipating future threats rather than merely reacting to current ones. This means thinking beyond simple data protection and focusing on securing the ecosystems that make up our digital world.

With continuous improvements to security protocols and a commitment to designing security into IoT devices from the beginning, we can build a future where IoT’s potential is realized without compromising safety.

To me, the future of cybersecurity in the IoT age isn’t just about defending against attacks. It’s about creating systems that are resilient by design—systems that can withstand even the most sophisticated threats. We must stay vigilant, but we must also be forward-thinking. If we get this right, the IoT era doesn’t have to be one defined by vulnerability. It can be one where the security and safety of the digital world we’re building become its defining characteristics.

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About Emmanuella Sophia Shammah

Emmanuella Sophia Shammah is a cybersecurity professional, educator, and community builder specializing in network traffic analysis, incident response, and digital forensics. As the founder of the Queen of Cyber YouTube channel, she simplifies cybersecurity concepts and supports aspiring professionals.

With a Psychology degree from Covenant University and certifications like Blue Team Level 1, Linux+, and CompTIA CySA+, she blends technical expertise with a passion for knowledge-sharing. Through threat intelligence programs and digital forensics investigations, she actively tackles modern cybersecurity challenges while fostering awareness and resilience in the digital space.

This could be in the form of a new product, strategy, service, or communication method. Whatever it is that you bring to the table, it should have the ability to provide value and fuel growth for your business.

In actual sense, business is christened at the birth of innovation that is creating new products, services markets or updating something known so it is exciting again.

It is important to note that the 21st century and beyond is a technological driven century, making technology companies triggering a paradigm shift by impacting industries.

For instance, Apple changes music and consumer electronics, Uber is changing the taxi business, while Airbnb and Amazon are changing the accommodation industry cum retailing.

Progressively, Software is a collection of programs and data that tell a computer how to perform specific tasks. Software often includes associated software documentation.

This is in contrast to hardware, from which the system is built and which actually performs the work.  A perfect understanding of the interrelationship of the above therefore calls for attention.

We present below software trends business innovators need to know.

1. Blockchain Technology  

Every serious business owner must make it a priority to understand how to successfully navigate Blockchain technology. Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. It stores data in blocks that are linked together in a chain.

The data is chronologically consistent because you cannot delete or modify the chain without consensus from the network.

As a result, you can use blockchain technology to create an unalterable or immutable ledger for tracking orders, payments, accounts, and other transactions.

The system has built-in mechanisms that prevent unauthorized transaction entries and create consistency in the shared view of these transactions.  Blockchain technology is used in Energy, Finance, Media, entertainment.

2. Artificial Intelligence

AI has evolved from an esoteric research topic—with its origins six decades ago in corporate and academic computer science labs—into a collection of powerful technologies with mainstream business promise and applicability.

According to Deloitte’s global AI study, organizations adopting AI, more than eight in 10 leaders see AI as “very” or “critically” important to their business success in the next two years.1 AI adoption and spending are surging globally.

According to one report, 37 percent of organizations have now deployed AI—a 270 percent increase from four years ago. Analysts project global spending on AI to top US$35 billion in 2019 and more than double to US$79.2 billion by 2022. Business owner must therefore of necessity take this seriously.

Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.

The Grand View Research, the global artificial intelligence (AI) market was valued at U.S. $93.5 billion back in 2021.

From 2022 to 2030, the market is expected to grow at a compound annual growth rate (CAGR) of 38.1%. This growth can largely be attributed to the “continuous research and innovation directed by the tech giants who are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance and manufacturing.”

AI is a powerful tool for improving operational efficiency, enhancing customer experiences, and generating valuable insights. Companies that successfully leverage AI technology can gain a significant competitive advantage, streamlining their operations and driving growth.

In general, AI systems work by ingesting large amounts of labeled training data, analyzing the data for New, rapidly improving generative AI techniques can create realistic text, images, music and other media.

3. Internet of Things

The Internet of Things (IoT) describes the network of physical objects—things”—that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.

These devices range from ordinary household objects to sophisticated industrial tools. With more than 7 billion connected IoT devices today, experts are expecting this number to grow to 10 billion by 2020 and 22 billion by 2025.

The importance of IOT, cannot be overemphasized, this includes but not limited to continuous customer interaction, Perception & Data Sharing, Accessibility, reliability, and efficiency, and Delivering of Insights in Real-Time

4. Cybersecurity

Cyber security refers to every aspect of protecting an organization and its employees and assets against cyber threats. As cyberattacks become more common and sophisticated, corporate networks also grow more complex, a variety of cyber security solutions are required to mitigate corporate cyber risk.

Business owners must understand the workings of cyber security, which of courses is safeguarding individuals and organizations against cyberattacks and theft or loss of sensitive and confidential information.

Cybersecurity can also monitor systems to protect personal data, protect yourself against fraud and online assaults.

The truth remains, that more than ever, merchants are creating and/or improving their ecommerce businesses to meet customers where they are. While it may seem like everything in ecommerce is evolving, Business owners must pay attention to pro/con of cybersecurity.

5. Datafication

Datafication is a software trend turning many aspects of our life into data, which is subsequently transferred into information realized as a new form of value.

Kenneth Cukier and Viktor Mayer-Schonberger introduced the term datafication to the broader lexicon in 2013.

Up until this time; datafication had been associated with the analysis of representations of our lives captured through data, but not on the present scale. This change was primarily due to the impact of big data and the computational opportunities afforded to predictive analytics.

Businesses collect customer data from many different channels, including physical retail, e-commerce, and social media.

By using data analytics to create comprehensive customer profiles from this data, businesses can gain insights into customer behavior to provide a more personalized experience.

Enterprises can use data analytics to guide business decisions and minimize financial losses. Predictive analytics can suggest what could happen in response to changes to the business, and prescriptive analytics can indicate how the business should react to these changes.

Streamline operations and mitigate risk.