A new report from Public First focused on the impact of digital technology in Nigeria reveals that Google tools and services will grow the Nigerian economy by an estimated $1.8 billion in 2023.
According to the Nigeria Digital Opportunity Report released on Thursday, the services that generated this amount for Nigerians include Google Search, Ads, Google Play, YouTube, and Google Cloud, which helps Nigerian businesses, creators , worker productivity has increased significantly.
He added that Google’s initiatives such as digital skills programs and career certification programs will help millions of Nigerians, with more than 1.5 million young people learning new digital skills in 2023 alone.
Digital growth opportunities for Nigeria
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. The report estimates that AI has the potential to grow Nigeria’s economy by an additional $15 billion by 2030, with Google’s commitment to responsible AI development playing a pivotal role. 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. Investing in digital skills
Commenting on the report’s findings, Google’s West Africa Director Olumide Balogun said:
“We are excited about the positive impact digital technology is having on the Nigerian economy. It highlights the importance of continued investment in skills and infrastructure.”
Amy Price, director and head of technology policy at Public First, added in a comment:
“Nigeria is a digital frontrunner in Africa and investments in technology will be a powerful catalyst for further growth and development across the country. This is especially true when it comes to connectivity, cloud computing and artificial intelligence. ”
What you need to know
In 2021, Google announced $1 billion to accelerate Africa’s digital economy, with a focus on improving internet access, supporting local entrepreneurs, and fostering innovation.
As part of that investment, Google’s Equiano fiber optic cable will arrive in Nigeria in 2022, connecting West Africa and Europe. Equiano has approximately 20 times the network capacity of the last cable built to serve the region, and is expected to increase internet penetration in Nigeria by 7% by 2025, making internet access more accessible. It is predicted to be faster, more reliable, and more affordable. The investment will also power several Google-funded skills programs tailored to young people and entrepreneurs in Nigeria.
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