A new report from consultancy Public First has revealed that Google’s tools and services contributed an estimated $1.8 billion to Nigeria’s economy in 2023. This significant contribution highlights the positive impact of digital technology on the country’s economic growth.
The Nigeria Digital Opportunity report, presented in Lagos, emphasized the economic benefits generated by services such as Google Search, Ads, Google Play, YouTube, and Google Cloud. These services have boosted the productivity of Nigerian businesses, content creators, and workers.
Google’s digital skills programs and career certificates program have been instrumental in driving Nigeria’s digital transformation, with over 1.5 million young Nigerians acquiring new digital skills in 2023.
Olumide Balogun, Google’s Director for West Africa, expressed enthusiasm about the positive impact of digital technology on Nigeria’s economy. He emphasized the importance of continued investment in digital skills and infrastructure to fully unlock the potential of Nigeria’s vibrant digital economy.
Balogun highlighted the immense potential for Nigeria to further solidify its position as a leading digital economy in Africa, given the rapid advancements in areas such as cloud computing, connectivity, and artificial intelligence. He added that Google remains committed to supporting Nigeria’s journey through strategic investments and partnerships.
The study underscored the significant role of digital technology in Nigeria’s economy, noting that every $1 invested in digital technology generates over $8 in economic value. The report also projected that artificial intelligence could add $15 billion to Nigeria’s economy by 2030.
Google has previously committed $1 billion to support the digital economy across Africa, including the landing of the Equiano fiber-optic cable in Nigeria in 2022. This cable is expected to increase internet penetration by seven percent by 2025, significantly improving internet access and reliability.
The search engine giant recommended that Nigerian policymakers adopt cloud-first strategies and strengthen digital infrastructure to maximize AI’s potential. Additionally, improved STEM education is crucial to prepare the workforce for future opportunities in the digital space.
Amy Price, Director and Head of Technology Policy at Public First, emphasized Nigeria’s position as a digital frontrunner in Africa and the powerful catalytic effect of tech investment on growth and development. She highlighted the significant role of AI in shaping Nigeria’s future economy and the need for focus on building a strong digital infrastructure and investing in STEM education.
