On Thursday, Google revealed that artificial intelligence (AI) could add $15 billion to Nigeria’s economy by 2030 in a recent study by Public First, a research organization specializing in economic, social and public opinion research. It was announced that this was shown.
Google West Africa Director Olumide Balogun shared this information at an Economic Impact Reporters Roundtable in Lagos. He said achieving the predictions outlined in Public First’s Nigeria Digital Opportunities report will largely depend on Google’s commitment to responsible AI development.
Balogun noted that in 2023, Google’s products and services, including search, advertising, YouTube and cloud, generated an estimated $1.8 billion in economic activity across Nigeria. This contribution has significantly increased the productivity of Nigerian businesses, creators, and workers.
This report highlights Google’s digital skills initiatives that are benefiting millions of Nigerians, including our Digital Skills for Africa and Career Certificate programs. “More than 1.5 million young people will acquire new digital skills in 2023 alone,” he said.
Nigeria continues to experience rapid digital growth and this report highlights the potential for further development.
The study shows that in Nigeria, every $1 invested in digital technology creates more than $8 in economic value, and digital technologies such as connectivity, cloud computing and AI will play a key role in shaping the country’s economic future. It is clear that the company is fulfilling its mission.
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Balogun expressed excitement about the positive impact digital technology is having on the Nigerian economy, adding that the report aims to develop digital skills and infrastructure to maximize the potential of Nigeria’s vibrant digital economy. He said that underscoring the need for continued investment.
In 2021, we committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation.
Balogun noted that the Nigeria Digital Opportunities report shows that these investments are already having a lasting impact on Nigeria.
The report also provides strategic recommendations for policymakers, advocating strengthening cloud-first policies and improving digital infrastructure to maximize the potential of AI in Nigeria. It also highlights the need for enhanced science, technology, engineering and mathematics (STEM) education and AI fluency to future-proof Nigeria’s workforce.
Amy Price, director and head of technology policy at Public First, said Nigeria is Africa’s digital leader. He emphasized that Nigeria’s technology investments have the potential to act as a powerful catalyst for further growth and development, particularly in areas such as connectivity, cloud computing and AI.
