Nigeria Cybersecurity Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Nigeria Cybersecurity Market Report is Segmented by Offering (Solutions, (application Security, Cloud Security, Consumer Security Software, Data Security, Identity and Access Management, Infrastructure Protection, Integrated Risk Management, Network Security Equipment, Other Solutions), Services (Professional Services, Managed Services)), Deployment (Cloud, On-Premise), End User (IT and Telecom, BFSI, Retail and E-Commerce, Oil, Gas, and Energy, Manufacturing, Government and Defense, Other End Users). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above-Mentioned Segments.

Nigeria Cybersecurity Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Nigeria Cybersecurity Market Size

Nigeria Cybersecurity Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 230.03 Million
Market Size (2030) USD 382.41 Million
CAGR (2025 - 2030) 10.70 %
Market Concentration Medium

Major Players

Nigeria Cybersecurity Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Nigeria Cybersecurity Market with other markets in Technology, Media and Telecom Industry

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Nigeria Cybersecurity Market Analysis

The Nigeria Cybersecurity Market size is estimated at USD 230.03 million in 2025, and is expected to reach USD 382.41 million by 2030, at a CAGR of 10.7% during the forecast period (2025-2030).

  • Nigeria's cybersecurity sector is rapidly expanding, driven by the nation's increasing digitalization, a surge in data breaches, and the ever-evolving landscape of cyber threats. Furthermore, the influx of both global and regional cybersecurity market vendors in Nigeria is notably fueling the growth of the Nigerian cybersecurity market.
  • Nigeria has made significant strides in bolstering its cybersecurity capabilities, notably through initiatives like the Nigeria National Cybersecurity Policy and Strategy (NCPS) and Cybersecurity Awareness Month. Moreover, the rising number of cybersecurity summits and events in Nigeria is pivotal in raising awareness about cybersecurity among businesses across sectors.
  • Such developments are analyzed to positively shape the market's future in the country over the forecast period. Notably, in May 2024, dx5 hosted the inaugural Africa Cloud & Security Summit in Nigeria, underscoring the region's swift adoption of cloud technologies and the escalating importance of cybersecurity. Industry leaders, policymakers, and cybersecurity professionals, along with cloud experts, delved into the cutting-edge trends and challenges shaping the cloud and security landscape.
  • The insufficient number of skilled cybersecurity professionals in Nigeria poses a threat to the growth of the country's cybersecurity market during the forecast period. With Nigeria's digital landscape rapidly expanding, a robust defense strategy is imperative, as evolving cyber threats demand a significant pool of skilled professionals.
  • Nigeria's pivot toward digitalization promises economic growth and reveals its susceptibility to cyber threats. The nation's cybersecurity landscape appears optimistic, supported by its deepening digital integration and governmental efforts to drive this transformation. However, as Nigeria adopts cloud computing, AI, IoT, and 5G, the avenues for cyber attacks are widening, which, in turn, is expected to drive the growth of the cybersecurity market over the forecast period.

Nigeria Cybersecurity Industry Overview

The Nigerian cybersecurity market is semi-consolidated as several key players and new entrants form a competitive landscape, accounting for a substantial market share. In addition, strategic partnerships, acquisitions, and new launches of products/technologies are increasing rivalry in the market.

  • June 2024: Flutterwave, Africa's premier payments technology firm, announced a collaboration with Nigeria's Economic and Financial Crimes Commission (EFCC) to spearhead the creation of a cutting-edge Cybercrime Research Center. This joint effort is designed to bolster the nation's cybersecurity, combat online crimes, and offer valuable opportunities to Nigeria's youth.
  • April 2024: SHELT, a prominent cybersecurity solutions provider, unveiled its latest business unit in Nigeria—SHELT System Integration (SHELT SI). With a robust track record of six years, particularly in bolstering Nigeria's financial, telecom, and governmental sectors, SHELT is poised to spearhead Nigeria's digital evolution. This new business unit will operate under Cyber Immune Limited, a subsidiary of SHELT.

Nigeria Cybersecurity Market Leaders

  1. IBM Corporation

  2. Microsoft Corporation

  3. CyberSOC Africa

  4. Ethnos Cyber Limited

  5. CyberDome

  6. *Disclaimer: Major Players sorted in no particular order
Nigeria Cybersecurity Market Concentration
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Nigeria Cybersecurity Market News

  • May 2024: The Lagos state government announced the inauguration of a Cybersecurity Operations Centre (CSOC). This move aimed to bolster digital safety and shield the state's critical infrastructure from cyber threats. The CSOC will actively monitor, detect, and swiftly counter cyber threats across the state. This initiative aligns with the state's goal of fortifying security and governance.
  • January 2024: The American Business Council (ABC) inaugurated its cybersecurity hub with the primary goal of bolstering awareness and empowering Nigerians and other stakeholders to counter the escalating threat of cyber-attacks. ABC’s cybersecurity hub is pivotal in equipping both individuals and entities with the requisite expertise and resources to fight cyber threats.

Nigeria Cybersecurity Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Intensity of Competitive Rivalry
    • 4.2.5 Threat of Substitutes
  • 4.3 An Assessment of the Impact of Macroeconomic Trends

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Growth in Digital Transformation Across Sectors
    • 5.1.2 Rapidly Increasing Cybersecurity Incidents
  • 5.2 Market Restraints
    • 5.2.1 Lack of Cybersecurity Professionals
  • 5.3 Key Use Cases
  • 5.4 Regulations and Cybersecurity Standards
  • 5.5 Analysis of Pricing and Pricing Model

6. MARKET SEGMENTATION

  • 6.1 By Offering
    • 6.1.1 Solutions
    • 6.1.1.1 Application Security
    • 6.1.1.2 Cloud Security
    • 6.1.1.3 Consumer Security Software
    • 6.1.1.4 Data Security
    • 6.1.1.5 Identity and Access Management
    • 6.1.1.6 Infrastructure Protection
    • 6.1.1.7 Integrated Risk Management
    • 6.1.1.8 Network Security Equipment
    • 6.1.1.9 Other Solutions
    • 6.1.2 Services
    • 6.1.2.1 Professional Services
    • 6.1.2.2 Managed Services
  • 6.2 By Deployment
    • 6.2.1 Cloud
    • 6.2.2 On-premise
  • 6.3 By End User
    • 6.3.1 IT and Telecom
    • 6.3.1.1 Use Cases
    • 6.3.2 BFSI
    • 6.3.2.1 Use Cases
    • 6.3.3 Retail and E-commerce
    • 6.3.3.1 Use Cases
    • 6.3.4 Oil, Gas, and Energy
    • 6.3.4.1 Use Cases
    • 6.3.5 Manufacturing
    • 6.3.5.1 Use Cases
    • 6.3.6 Government and Defense
    • 6.3.6.1 Use Cases
    • 6.3.7 Other End Users
    • 6.3.7.1 Use Cases

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 IBM Corporation
    • 7.1.2 Microsoft Corporation
    • 7.1.3 CyberDome
    • 7.1.4 CyberSOC Africa
    • 7.1.5 Ethnos Cyber Limited
    • 7.1.6 Cybervergent
    • 7.1.7 Jireh Technologies Limited
    • 7.1.8 Digital Encode Limited
    • 7.1.9 Reconnaissance Technologies Nigeria Limited
  • *List Not Exhaustive

8. RANKING OF VENDORS AT A REGIONAL LEVEL

9. INVESTMENT ANALYSIS

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Nigeria Cybersecurity Industry Segmentation

The Nigerian cybersecurity market's scope encompasses revenues derived from solutions and services utilized across end-user industries. The analysis draws from a blend of secondary research and primary sources, providing a comprehensive view of the market. It also delves into the key drivers and restraints shaping its growth trajectory.

The Nigerian cybersecurity market is segmented by offering (solutions (application security, cloud security, consumer security software, data security, identity and access management, infrastructure protection, integrated risk management, network security equipment, other solutions), services (professional services, managed services)), deployment (cloud, on-premise), end user (IT and telecom, BFSI, retail and e-commerce, oil, gas, and energy, manufacturing, government and defense, other end users).

The market sizes and forecasts are provided in terms of value in USD for all the above-mentioned segments.

By Offering Solutions Application Security
Cloud Security
Consumer Security Software
Data Security
Identity and Access Management
Infrastructure Protection
Integrated Risk Management
Network Security Equipment
Other Solutions
Services Professional Services
Managed Services
By Deployment Cloud
On-premise
By End User IT and Telecom Use Cases
BFSI Use Cases
Retail and E-commerce Use Cases
Oil, Gas, and Energy Use Cases
Manufacturing Use Cases
Government and Defense Use Cases
Other End Users Use Cases
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Nigeria Cybersecurity Market Research Faqs

How big is the Nigeria Cybersecurity Market?

The Nigeria Cybersecurity Market size is expected to reach USD 230.03 million in 2025 and grow at a CAGR of 10.70% to reach USD 382.41 million by 2030.

What is the current Nigeria Cybersecurity Market size?

In 2025, the Nigeria Cybersecurity Market size is expected to reach USD 230.03 million.

Who are the key players in Nigeria Cybersecurity Market?

IBM Corporation, Microsoft Corporation, CyberSOC Africa, Ethnos Cyber Limited and CyberDome are the major companies operating in the Nigeria Cybersecurity Market.

What years does this Nigeria Cybersecurity Market cover, and what was the market size in 2024?

In 2024, the Nigeria Cybersecurity Market size was estimated at USD 205.42 million. The report covers the Nigeria Cybersecurity Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Nigeria Cybersecurity Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Nigeria Cybersecurity Industry Report

Statistics for the 2025 Nigeria Cybersecurity market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Cybersecurity analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.