Nigeria loses $850m yearly from weak digital identity —NiRA

Nigeria is experiencing an annual economic loss of $850 million because of insufficient adoption of digital identity systems. This significant financial deficit highlights a critical challenge in the country's digital infrastructure. The Nigerian internet Registration Association (NiRA) has pointed to this issue, emphasizing the need for stronger digital identity frameworks. Enhancing the use of the .ng domain is proposed as a key strategy to improve both economic growth and data sovereignty.

Addressing the weakness in digital identity is crucial for Nigeria to unlock significant economic potential and secure its digital future.