Google’s tools and services will add an estimated $1.8 billion to Nigeria’s economy in 2023, a new report by consulting firm Public First revealed on Thursday.
Nigeria’s Digital Opportunity Report, launched in Lagos, highlights the economic benefits generated by services such as Google Search, Ads, Google Play, YouTube and Google Cloud, which are helping Nigerian businesses, content creators and , which helps improve worker productivity.
The search engine giant notes that its digital skills and career certification programs are key drivers of Nigeria’s digital transformation, with more than 1.5 million young Nigerians expected to acquire new digital skills by 2023. It’s planned.
Commenting on the findings, Google’s West Africa Director Olumide Balogun said:
“This report highlights the importance of continued investment in digital skills and infrastructure to realize the full potential of Nigeria’s vibrant digital economy.”
Balogun stressed that with rapid digital advancements, especially in areas such as cloud computing, connectivity and artificial intelligence, Nigeria has immense potential to further consolidate its position as Africa’s leading digital economy. did.
“Nigeria’s future economic growth will be driven by its ability to leverage technology, and Google remains committed to supporting this journey through strategic investments and partnerships,” he added.
The study highlighted the important role that digital technology plays in Nigeria’s economy, noting that every dollar invested in digital technology in the country generates more than $8 in economic value.
The report also predicted that AI could add $15 billion to Nigeria’s economy by 2030, and that Google stands to play a pivotal role through responsible AI development initiatives.
Google previously said it has committed $1 billion in 2021 to support digital economies across Africa. This includes the installation of the Equiano fiber optic cable in Nigeria in 2022, which will increase internet penetration by 7% by 2025 and significantly improve internet access and reliability. It is expected.
The search engine giant urges policymakers in Nigeria to adopt a cloud-first strategy and strengthen digital infrastructure to maximize the potential of AI, while preparing the workforce for future opportunities in the digital space. He emphasized the need to improve STEM education to prepare students for the future.
Amy Price, director and head of technology policy at Public First, said: “Nigeria is Africa’s digital frontier and investment in technology will be a powerful catalyst for further growth and development across the country.” said.
“This is especially true when it comes to connectivity, cloud computing, and artificial intelligence.”
Price also emphasized that AI will play a key role in shaping Nigeria’s future economy, with the report estimating that AI could add $15 billion to Nigeria’s GDP by 2030. There is.
“To maximize this potential, Nigeria must focus on building a strong digital infrastructure and investing in STEM education to prepare its workforce for the jobs of tomorrow,” Price explained.
