December 28, 2024

FINTECH MAGAZINE AFRICA

Fintech eyes in africa

National Bureau of Statistics Allocates N35 Million For Cybersecurity Upgrades Following Website Hack

The National Bureau of Statistics (NBS) has earmarked N35 million for “Capacity Building on Cybersecurity and Data Centre Management” in its 2025 budget. This initiative comes in response to a December 18, 2024, cyberattack that compromised its website and raised alarms about the agency’s digital security.

The breach, disclosed through the bureau’s official X (formerly Twitter) account, prompted public warnings to disregard information from the hacked platform, highlighting vulnerabilities in Nigeria’s primary statistical agency’s digital infrastructure.

Modernization Efforts in the N9.85 Billion Budget

The NBS’s cybersecurity investment is part of a broader N9.85 billion budget for 2025 aimed at enhancing operations and service delivery. Key allocations include:

  • N500 million for the Labour Force Survey
  • N80 million for Consumer Price Index production
  • N60 million for quarterly GDP compilations
  • N55 million for the National Agricultural Sample Survey
  • N50 million for tracking the 8-Point Agenda
  • N45 million for service delivery capacity building
  • N15 million for demographic statistics
  • N9 million for the Annual Abstract of Statistics

Personnel costs dominate the budget at N6.65 billion. However, the cybersecurity breach, which disrupted the bureau’s website for a week, has created potential delays for critical government reports, underscoring the need for enhanced digital security measures.

Rising Cyber Threats in Nigeria

The NBS’s proactive cybersecurity allocation reflects Nigeria’s escalating cyber threats. Organisations in the country experience an average of 3,759 attacks weekly, according to the 2024 African Perspectives on Cyber Security Report by Check Point Software Technologies.

Public sector entities alone face 1,791 weekly attacks, predominantly involving ransomware and botnets, revealing the pressing need for improved defenses as Nigeria continues its digital transformation.

The NBS’s investment in cybersecurity and digital infrastructure underscores its commitment to safeguarding sensitive data and ensuring the timely delivery of critical statistics in the face of growing cyber risks.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright ©FINTECH MAGAZINE AFRICA | Newsphere by AF themes.