By Adanna Nwankwo, Prince Osuagwu, High Tech Editor
Search engine giant Google has announced that the economic activity generated by its products and services will inject approximately $1.8 billion into the Nigerian economy in 2023.
Products and services include search, playback, Android, YouTube, cloud, advertising, and more.
It also suggested that artificial intelligence (AI) would add $15 billion to the Nigerian economy by 2030.
Google said this in a report released yesterday, saying the impact of the economic support in 2023 would be equivalent to supporting more than 200,000 jobs a year.
The digital technology company, which released the report entitled “Nigeria’s Digital Opportunities” at its offices in Ikoyi, Lagos, said such significant contributions are a sign of the country’s strong digital economy, which is yet to be fully exploited. He said it was made possible by.
An independent report by Public First, a global policy and strategy consultancy, says digital technology, if used well, has the potential to bring significant economic benefits to Nigeria.
Public First specializes in economic modeling and public opinion research with international corporations and governments.
This report outlines how Google’s products and infrastructure are driving digital transformation and contributing to economic growth across Nigeria.
This report not only showcases this impact, but also provides stakeholders with data-driven policy recommendations to maximize Nigeria’s digital potential.
Nigeria is experiencing rapid digital development and the report highlights the potential for further growth, finding that for every dollar invested in digital technology in Nigeria, economic value is increased by more than $8. It’s clear.
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.
Olumide Balogun, Director of West Africa at Google , highlighted Google’s commitment to empowering communities. – Requires digital skills. In particular, support for entrepreneurs to foster a vibrant startup ecosystem.
He said these initiatives have provided a major boost to businesses, creators and workers in Nigeria.
He said, “Google’s digital skills programs, including Digital Skills and Career Certification Programs for Africa, are helping millions of Nigerians, with more than 1.5 million young people learning new digital skills in 2023 alone. Masu.”
“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, said: “Nigeria is Africa’s digital frontrunner and technology investment is a powerful catalyst for further growth and development across the country. Probably,” he added. This is especially true when it comes to connectivity, cloud computing, and artificial intelligence. ”
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.
