Nigeria Data Protection Act is designed to address the challenges that may arise with the deployment of emerging technologies in the country.
The National Commissioner, Nigeria Data Protection Commission, NDPC, Dr Vincent Olatunji stated this at the recent IOT West Africa Conference and Exhibition 2023, held in Lagos, State, South-West, Nigeria.
In His presentation titled “Data Protection in Emerging Technologies” Dr. Olatunji said that as the digital economy grows, it is crucial to address privacy issues in emerging technologies through awareness, regulation, and proactive strategies.
“Data is currently driving the world towards the 4th industrial Revolution with emerging technologies like Artificial Intelligence, AI, giving room for data manipulation. Strong data protection laws are needed for responsible AI development and deployment. The Data Protection Act 2023 provides a legal framework to handle data protection in emerging technologies. By protecting personal data in emerging technologies, we can build trust, foster innovation, and ensure a secure digital future,” Dr. Olatunji said.
Dr. Olatunji emphasized the importance of data in the global digital economy, particularly the rapid advancements in technologies leading to disruptions in the way people interact.
“According to a report by the World Economic Forum (WEF), the value of the digital economy is projected to reach $23 trillion by 2025, We are currently experiencing unprecedented technological advancements that are driven by the power of data,” he stated.
The National Commissioner also explained the role of Nigeria Data Protection Act in regulating e- government services, Fintech and IoT applications in the country.
“Nigeria Data Protection Act 2023 plays a crucial role in safeguarding citizens’ data collected and processed by government entities, ensuring transparency, accountability, and protection of privacy rights. It also ensures that customer data collected by fintech companies is protected, minimizing the risk of data breaches and unauthorized access,” Olatunji assured.
He noted that the Law will help establish best practices for data protection, promote transparency and accountability among stakeholders, and foster a culture of privacy and security in the IoT ecosystem.
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