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.

Experts across government and the private sector unanimously agreed while speaking at the IoT West Africa 2026 Conference and Data Centre Cloud Expo held in Lagos.

In a keynote address , Dr Vincent Olatunji, national commissioner, Nigeria Data Protection Commission (NDPC), warned that rapid digital expansion was being matched by rising cyber threats.

Olatunji said cyberattacks now occur every 39 seconds globally, with cybercrime losses estimated at 10.5 trillion dollars annually.

He noted that Nigeria records over 4,000 cyberattacks weekly, accounting for about 45 per cent of incidents in Africa, while financial losses exceeded ₦12 billion in 2024.

He added that global data generation had reached about 402.89 million terabytes daily and was projected to grow from 181 zettabytes to 221 zettabytes.

“Data is now the new oil, driving everything from IoT to cloud services and digital platforms,” he said, adding that Nigeria’s digital economy is valued at 18.3 billion dollars and could double within five years.

Also during a fireside chat at the IoT West Africa 2026 with the theme “Role of Colocation in Enabling Africa’s Data Centre Transformation: Opportunities and Challenges,” industry leaders identified interconnectivity, power and affordability as critical to scaling the sector.

Mr Yashnath Issur, the chief executive officer of Nxtra by Airtel, said Africa’s data centre market must be built to global standards.

“This market is no longer local; it is a global business requiring global quality, scale and expertise,” he said.

On his part, Mr Lars Johannisson, the chief executive officer of Rack Centre, said energy remained the biggest constraint to growth.

“Data centres are about power, cooling and people. Energy is the machine that will power our growth, and without fixing it, scaling will remain constrained,” he said.

Also speaking, Mr Wole Abu, the managing director of Equinix West Africa, stressed the need for interconnected ecosystems.

“A data centre without interconnection is like a ship, but an interconnected one is a port that enables trade and economic growth,” he said.

Mr Akinsehinwa Akin-Taylor of African Infrastructure Investment Managers said while capital was available, investors were becoming more cautious.

“The focus is now on bankability, strong operating history and quality assets that can support long-term growth,” he said.

Mr Ifeanyi Otudoh of MTN said Africa must build local capacity and ensure inclusive access.

“We must put digital capability in the hands of African innovators and ensure secondary cities are not left behind,” he said.

Mr Gary Chomse of Vertiv added that power instability continues to shape data centre design across the continent.

“We must design for resilience to withstand outages and still guarantee uptime,” he said.

Meanwhile, at a panel session on “Role of Digital Twins for Data Centre Optimisation in Nigeria,” experts said the adoption of digital twin technology could significantly improve efficiency and reduce failures in data centres.

Mr Johnson Agogbua, chief executive officer of Kasi Cloud, said digital twins would enhance power optimisation and predictive maintenance.

“The biggest headache in Nigeria is power. Digital twins help you understand how power behaves and allow you to visualise problems before they occur,” he said.

Mr Morris Nmor of Uptime Institute said the technology could drastically reduce operational risks.

“If adopted, failure and risk will reduce significantly, and efficiency levels can improve rapidly,” he said.

Mr Riaan De Leeuw of Zutari noted that digital twins could also address cooling inefficiencies and reduce operational costs.

Mr Kayode Akomolafe of Amazon Web Services said the technology enables deeper insights for planning and forecasting.

“It provides granular data that allows operators to predict, plan and even monetise their operations,” he said.

Prof. Ibrahim Adeyanju of Galaxy Backbone said digital twins could improve energy efficiency and cybersecurity.

“There is a lot of energy wastage, and this technology can help optimise usage while strengthening data protection,” he said.

The experts agreed that integrating data infrastructure, strengthening cybersecurity and deploying emerging technologies such as digital twins would be critical to unlocking Africa’s multi-trillion-dollar digital economy potential.

MTN and Airtel are at the forefront of advancing telecom infrastructure.

The Rural Electrification Agency is rewiring the country’s power base. And enterprise AI adoption is accelerating across banking, logistics, and public services.

On 28–30 April 2026, that ecosystem converges at Landmark Centre, Victoria Island, Lagos, as IoT West Africa, Power & Water Nigeria, and Data Centre & Cloud Expo Africa co-locate for their fifth edition.

IoT West Africa holds its place as the longest-running IoT and digital infrastructure event on the continent, and the platform that has tracked, shaped, and accelerated West Africa’s technology story from its earliest chapters.

The three-day platform spans AI, cloud, telecoms, IoT, smart infrastructure, fintech, renewable energy, hyperscale data centres, and power generation.

Critical infrastructure sits at the heart of this year’s agenda: from the security and resilience of national power grids, to the fibre networks, subsea cables, and edge computing nodes that underpin Nigeria’s digital economy. This is the event where that conversation happens at the highest level.

It is the only event in West Africa where a hyperscale operator, a rural electrification agency, a 5G network operator, and a sovereign AI policymaker share the same stage, and the same room.

The event announces a strategic partnership with Africa Data Centres Association (ADCA), bringing the continent’s foremost data centre industry body into the programme to shape conversations around investment, connectivity, and cross-border infrastructure development.

Confirmed speakers include Dr. Abba Aliyu, MD/CEO of the Rural Electrification Agency; Dr. Emomotimi John Agama, Director-General of Securities and Exchange Commission Nigeria; and Christopher Ezeafulukwe, MD/CEO of Transcorp Energy; Wole Abu, MD, Equinix; Ina Alogwu, Chief Digital & Information Officer, T2 Mobile; alongside dozens of global industry leaders.

The platform brings together 5,000+ decision-makers including CIOs, CTOs, investors, regulators, and hyperscale operators, with exhibitors including Itel Energy, Vertiv, and Jubaili Bros. An exclusive VIP lounge, a startup pitch session, and a live podcast series complete the programme.

Register: Power & Water Nigeria – pnwnigeria.com/visitor-registration
IoT West Africa – iotwestafrica.com/visitor-registration

Scheduled for May 13-15, 2025, at the Federal Palace Hotel in Lagos, the event has secured participation from various public and private sector organisations.

Leading entities, including the National Information Technology Development Agency (NITDA), Nigeria Data Protection Commission (NDPC), and the Rural Electrification Agency (REA), have confirmed their participation.

They will be joined by prominent private sector players such as Cummins, Simba Power Solution, and UnoTelos Limited.

These organizations recognize the critical role of these events in driving Nigeria’s economic growth through advancements in power, water, and digital infrastructure.

Further solidifying its industry relevance, the Africa Data Centre Association (ADCA) has joined as a strategic partner.

ADCA’s involvement will ensure alignment with industry best practices and foster collaboration to accelerate data center and cloud innovation across the continent.

Illustrating the event’s significance, Cummins Inc., a global leader in power solutions, will showcase its comprehensive range of diesel, natural gas, electric, and hybrid powertrains, catering to Nigeria’s growing digital infrastructure needs.

“At Cummins, our goal is not just to power data centers but to empower Nigeria’s digital economy,” stated Mark Oni Okeke, managing director of Cummins West Africa Ltd. “Through sustainable innovation and cutting-edge technology, we are committed to helping data centers achieve reliable, efficient, and environmentally responsible operations.”

Simba Power Solution, a Platinum Sponsor of the Power and Water Nigeria Exhibition, will present its advanced and sustainable power solutions.

“As Nigeria’s energy landscape evolves, Simba Power is dedicated to delivering innovative, reliable, and sustainable power solutions that address the country’s growing energy demands,” a company spokesperson confirmed.

Meanwhile, UnoTelos Limited, a proud sponsor of IoT West Africa, will highlight its cutting-edge 5G and IoT solutions, developed in collaboration with leading OEM partners. With Nigeria’s IoT market projected to experience a CAGR of 15.2% from 2024 to 2030, these discussions will be pivotal in shaping the future of connectivity, security, and smart technology.

“This event is an exciting opportunity to engage with industry leaders and discuss how IoT can revolutionize businesses, improve efficiency, and drive innovation across sectors,” said a UnoTelos Limited representative.

These premier events will convene industry leaders, investors, and innovators to explore groundbreaking solutions in power, water, and digital infrastructure—sectors crucial to Nigeria’s economic advancement.

With Nigeria’s data center market projected to reach $1.5 billion by 2027, and the digital economy contributing 18.44% to Nigeria’s GDP in 2023, the demand for reliable power, water, and connectivity solutions is at an all-time high.

The Power and Water Nigeria Exhibition and IoT West Africa will serve as catalysts for discussions on sustainable energy, efficient water management, and the future of digital connectivity in Africa.

The events are expected to attract thousands of tech leaders, energy consultants, digital transformation executives, and industry decision-makers.

Attendees will experience cutting-edge innovations that are shaping the future of digital infrastructure, from next-generation power solutions to advanced cloud and connectivity technologies.

These events will have a far-reaching impact across multiple industries, including banking, e-commerce, transportation, government departments, manufacturing, and utilities.

By addressing critical power, water, and digital infrastructure challenges, they will enable businesses and organizations to adopt more resilient and efficient technologies that drive economic growth and technological advancement.

With strong backing from government bodies, strategic partners, and industry pioneers, these events will serve as premier hubs for networking, knowledge-sharing, and investment opportunities.

He made this assertion during a chat with Journalists at this year’s IoT West Africa Conference and Exhibition holding at the Balmoral Center, Federal Palace, Lagos, Nigeria.

According to him, Nigerian startup ecosystem is blossoming with a vibrant young tech enthusiast.

Taneja averred that this enthusiasm informed why they chose Nigeria as the host of this year’s conference.

He said, “Nigeria’s vast youth population and the vibrant startup ecosystem makes it a powerhouse for technology development in Africa.

“The reason we are hosting the IoT West Africa, which is co-located with Africa data center and cloud Expo Africa is because we see a lot of potential in the market and the growing number of youths that are working towards the development of technology.

“Also, IoT is something that is required in our daily lives, to which West Africa and Nigeria is adapting to.

“IoT is required as we are adapting to technologies. It’s something that is required in our daily lives and Nigeria is adapting to, whether it’s our coffee machine, our cities, or even with our daily shopping, so this is some of the things we are trying to bring over here with this conference.”

He further stated that startup ecosystem in Africa has attracted over $70 billion in investment with Nigeria having a huge chunk of that money.

According to him,

“We see a lot of investments coming in from the data centers on the telecom side towards the sector.

“We also see a lot of investors, pouring in money for the startups. There are a lot of startups in Africa alone, till now there has been an investment of around $70 billion that has been invested in the startups and we are just acting as an aggregator to fuel this fire to enhance more investments towards the West African economy”.

Speaking at the event, Kashifu Inuwa, director General of the National Information Technology Development Agency (NITDA), said that Government intends to set up research centres for emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Blockchain across all six geo-political zones of the country.

Inuwa made this announcement this during his keynote address on Tuesday at the opening of the 2024 IoT West Africa Conference in Lagos, Nigeria.

Represented by Dr. Aristotle Onumo, NITDA’s director of Corporate Planning and Strategy, Inuwa stated that the initiative aligns with NITDA’s focus on fostering a strong technology research ecosystem.

In his keynote address titled “Regulatory Framework Challenges to Support IT Developments in West Africa,” Inuwa highlighted that the conference theme resonates with NITDA’s vision, and pointed out that the agency’s research priorities encompass IoT, AI, Blockchain Technology, UAVs, Additive Manufacturing, and Robotics.

Highlighting the accelerated service deliveries, the NITDA DG emphasized that emerging technologies are enhancing rural life by addressing waste disposal challenges, and smart agriculture is transforming food production through various automated agricultural processes.

“We are establishing a special-purpose vehicle that is going to look into these key areas and also establish research centres across the six geo-political zones of Nigeria that will be targeting these six key areas of emerging technologies,” Inuwa said.

Inuwa made this plea while delivering his keynote address at the IoT West Africa Conference and Exhibition 2023 in Lagos State.

The DG noted some challenges that need unlocking in order to access the potentials of IoT, especially infrastructure, cyber security, and data protection, stating  that most IoT use cloud-based solutions — Alexa, Google, and others.

Inuwa said today’s computer systems are outperforming humans in many endeavours, especially the rise of generative AI, chat GPT, etc., and that is the fabric of the shift humanity is witnessing in accelerating the convergence between physical, biological, and digital world.

Referring to a McKinsey report, Inuwa said that by 2030, IoT has the capacity to generate between 5.5 to 12.6 trillion US dollars in value across different industries. Citing the exponential growth of connected devices, he pointed out that the number of connected devices now exceeds the global population, as reported by Cisco.

“Looking at the areas you can apply them, such as the area of agriculture, we need to increase our agri-products, and IoT can help us to do that with lesser human efforts,” he said.

He explained further that there are wearable plant sensors at the moment, which is one of the top technologies in 2023.

The NITDA boss hinted that farmers can have a sensor attached to their plant to manage its health, watering, fertilizer, pesticides, and this would invariably enhance the increase of food produce.

He said, “According to World Economic Forum, there is need to increase the global food production by 70% in the next seven years to address food security”.

Inuwa then opined that Nigeria, with its  population growth rate, need to do more than any other country, “because we are growing faster than any country in the world.”.

He asserted that by 2050, Nigeria will be the third largest population in the world, therefore, there is need to explore how we can use IoT to increase the country’s food production.

He said  IoT can be used to automate farms in the area of precision agriculture, soil moisture, watering, and many other functions within the farm.

In addition to agriculture, the NITDA Director General discussed the role of IoT in addressing security challenges, as IoT devices can monitor activities, movement patterns, and even enable geofencing to prevent incidents such as farmer-herder conflicts and kidnapping.

The DG emphasised that IoT could be utilised to enhance oil theft prevention by monitoring pipelines and sending alerts for quick security response.

He added that, “Today, most wearable IoT devices monitor the heartbeats, blood pressure which is also useful to medical practitioners in providing information for telemedicine and helps people with disabilities or the senior citizens as first point of health consultancy,” he said.

“We don’t have locally manufactured IoT devices, we need to build infrastructure, like data centers, cloud solution where we can put our IoT data,” he urged.

Inuwa advised that there is also the need to develop the talent within the country to enable digital sovereignty for the nation to gain independence of digital offerings.

“We need to build a tailor-made solution that will address our challenges, harness indigenous talents to promote IoT solutions, and this requires the collective efforts of the government, private sectors and all stakeholders.”

“We need you, the ecosystem, to do it because our approach today is no more government sitting in the office using armchair theory to come up with policies or regulations, we work with you, the ecosystem, to co-create whatever we do,” he concluded.