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This scholarly investigation delves into the evolving realm of Information Technology (IT) innovations and data analytics within Nigerian enterprises, focusing on their transformative impact, governance challenges, and the strategic implications for business practices. Set against the backdrop of Nigeria's dynamic economic landscape, the study aims to unravel the complexities and potential of IT and data analytics in reshaping the country's business environment. The research adopts a review approach to study traverse various domains, including the historical evolution of IT, the transformative role of data analytics in decision-making, governance hurdles in the IT sector, and compliance issues within Nigerian IT practices. The findings reveal a significant IT and data analytics evolution, marked by increased adoption and integration into business operations. However, challenges such as infrastructural inadequacies, skill gaps, and regulatory complexities emerge as significant barriers. The study concludes that for Nigerian enterprises to fully leverage IT innovations, a robust governance framework, strategic alignment of IT practices, and investment in technology and skills development are imperative. Recommendations include fostering a culture of innovation, adaptability, and compliance to navigate the digital landscape effectively. The study serves as a comprehensive guide for businesses, policymakers, and stakeholders in the Nigerian IT sector, offering insights for leveraging IT innovations for sustainable growth and development.