Advances in new technologies present challenges to general expectations relating to collection, usage and cross-border control and transfer of personal data in recent times. Data has become the critical component of the fourth industrial revolution in global economies involving governments, businesses, and individuals. This paper considers the recent introduction of Data Protection Regulation in Nigeria (NDPR), which can be adjudged to have novel compliance structures globally. Using a qualitative approach, and further enabled by the institutional theory as a framework the paper examines the implications of the NDPR requirements for Data Controllers and Processors in key sectors of the economy. Findings from the study shows that there are five key components of the NDPR that can compel, motivate or support organizations to make significant structural changes such as standardization of processes, practices and IT assets to show conformity and/or gain legitimacy. The study equally identified the factors that facilitate or inhibit the adoption and implementation of the conditions of the NDPR categorised in line with the three pillars of the institutional theory framework. These findings projects policy direction in enhancing the institutionalisation of NDPR measures across key sectors. It will also inform businesses on necessary cause of action and changes to ensure privacy and protection of personal data collected from data subjects.