Google on Thursday announced that a recent study conducted by Public First showed that artificial intelligence (AI) could contribute $15 billion to Nigeria’s economy by 2030.
Olumide Balogun, Google’s West Africa director, said this at an economic impact report press conference held in Lagos.
Balogun said the predictions of Public First’s Nigeria Digital Opportunities report will be achieved with Google’s commitment to responsible AI development playing a key role.
He said the report revealed that Google’s products and services, including search, advertising, YouTube and cloud, contributed an estimated $1.8 billion to economic activity across Nigeria in 2023.
He said the estimated $1.8 billion, according to the report, has significantly increased the productivity of businesses, creators and workers in Nigeria.
Balogun noted that the study highlights how Google’s digital skills programs, such as the Digital Skills for Africa and Career Certification programs, have helped millions of Nigerians.
“More than 1.5 million young people learned new digital skills in 2023 alone.
“Nigeria is undergoing rapid digital development and this report highlights the potential for further growth.
“Research shows that every $1 invested in digital technology in Nigeria generates more than $8 in economic value.
“This highlights the critical role of digital technologies, including connectivity, cloud computing and artificial intelligence (AI), in shaping Nigeria’s economic future,” he said.
Balogun said Google is excited about the positive impact digital technology is having on Nigeria’s economy.
According to the Google director, the report highlights the importance of continued investment in digital skills and infrastructure to realize the full potential of Nigeria’s vibrant digital economy.
He said Google committed $1 billion to accelerate Africa’s digital economy in 2021, with a focus on improving internet access, supporting local entrepreneurs, and fostering innovation.
He said the Nigeria Digital Opportunities report shows that Google’s investments are already having a lasting impact on the country.
Balogun said the report also provides strategic recommendations to policymakers, advocating strengthening cloud-first policies and strengthening digital infrastructure to maximize the potential of AI in Nigeria. said.
According to Balogun, the need for strengthening science, technology, engineering and mathematics (STEM) education and AI fluency is highlighted to prepare Nigeria’s workforce for the future.
Amy Price, director and head of technology policy at Public First, said:
Nigeria has been a digital frontrunner in Africa.
Price said Nigeria’s technology investments will be a powerful catalyst for further growth and development across the country.
The Public First director said this is especially true when it comes to connectivity, cloud computing and AI.
The News Agency of Nigeria reports that Public First is a public policy research institute specializing in economic, social and public opinion research.
