The Impact of Cyber Security on Nigerian Digital Economy

Nwosu John Nwachukwu PhD

doi:10.56201/ijcsmt.vol.11.no10.2025.pg1.11

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The Impact of Cyber Security on Nigerian Digital Economy

Nwosu John Nwachukwu PhD

Abstract

The purpose of the research is to examine the impact of cybercrime on Nigeria Digital Economy. Literature study was used to collect data from various materials that include libraries, the internet, books, journals, magazine, and historical stories. Data were also collected from Federal Bureau of Information (FBI), United Nations Conference on Trade and Development (UNCTAD), Economic and Financial Commission (EFCC) site, Nigeria Information Technology Development Agency (NITDA) site, The Economist Intelligence Unit report, Federal Ministry of Communications and Digital Economy report, and World Bank report. Survey method that included questionnaire was used to find out the factors that were responsible for cybercrime in Nigeria. The analysis and discussion shows that digital economy will lead to new jobs, new forms of digital work, new opportunities in digital ecosystem, increased competition from local and foreign digital firms, enhanced productivity from data driven business models, greater control of value chains using platforms-based business models, more tax revenue resulting from increased economic activities. However, cybercrime poses a significant threat to Nigeria’s digital economy with far-reaching consequences for businesses, individuals and the nation as a whole. The rise of digital technologies has created new opportunities for cybercriminals to exploit vulnerabilities resulting in substantial financial losses, decline in investor confidence, damage to Small and Medium-sized Enterprises (SMEs), inhibited digital participation and damage to business reputation.

References

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The Impact of Cyber Security on Nigerian Digital Economy

Abstract

References

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