Technology company Google has said artificial intelligence (AI) could add $15 billion to Nigeria’s economy in 2030.
Google disclosed this in a new report on Nigeria’s digital economy released in Lagos on Thursday.
This report, independently conducted by Public First, highlights the significant economic impact of digital technologies in Nigeria.
Nigeria’s Digital Opportunities Report outlines how Google’s products and infrastructure are driving digital transformation and contributing to economic growth across the country.
Nigeria is undergoing rapid digital development and this report highlights the potential for further growth.
According to the study, every $1 invested in digital technology in Nigeria generates more than $8 in economic value.
This highlights the critical role that digital technologies such as connectivity, cloud computing and artificial intelligence (AI) will play in shaping the future of Nigeria’s economy.
According to the report, AI could generate $15 billion annually for Nigeria.
He also said that for every dollar invested in digital technology in Nigeria, $8 contributes to the country’s economy, indicating a high return on investment in the sector.
The report said that in 2023, Google’s products and services, including search, advertising, YouTube and cloud, contributed an estimated $1.8 billion to economic activity across Nigeria. This has significantly increased the productivity of Nigerian businesses, creators, and workers.
Our digital skills programs, such as Digital Skills for Africa and Career Certificates Program, are helping millions of Nigerians, with more than 1.5 million young people learning new digital skills in 2023 alone.
In 2021, we committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation. Nigeria’s Digital Opportunities Report shows how these investments are already having a lasting impact on the country.
The report also provides strategic recommendations for policymakers, advocating strengthening cloud-first policies and strengthening digital infrastructure to maximize the potential of AI in Nigeria. It also highlights the need for enhanced STEM education and AI fluency to future-proof Nigeria’s workforce.
Olumide Balogun, Director of West Africa at Google, said: The report highlights the importance of continued investment in digital skills and infrastructure to realize the full potential of Nigeria’s vibrant digital economy. ”
Amy Price, director and head of technology policy at Public First, said: “Nigeria is Africa’s digital frontrunner and investment in technology is a powerful catalyst for further growth and development across the country. Dew,” he added. This is especially true when it comes to connectivity, cloud computing, and artificial intelligence. ”
