By Prince Osuagwu, Hi-Tech Editor & Adanna Nwankwo
Search engine giant, Google, has just released a report showing it injected about $1.8 billion into Nigeria’s economy in 2023 from economic activities generated by its products and services.
The products and services include, Search, Play, Android, YouTube, Cloud, and Ads among others.
This is also as it tipped Artificial Intelligence, AI, to add $15 billion to Nigeria’s economy by 2030.
Google said the impact of its 2023 support to the economy is equivalent to supporting over 200,000 jobs annually.
Unveiling a report titled The Digital Opportunity of Nigeria at its office in Ikoyi, Lagos, the digital tech company said such huge contribution was made possible by a robust digital economy which the country is yet to tap fully from.
The report conducted independently by global policy and strategy consultancy, Public First, says there are significant economic impact digital technologies can make in Nigeria, if well harnessed.
Public First specialises in economic modelling and opinion research, leveraging international companies and governments.
The report outlines how Google’s products and infrastructure are driving digital transformation and contributing to economic growth across Nigeria.
Recommendations
Beyond showcasing this impact, the report provides data-driven policy recommendations for stakeholders to maximise Nigeria’s digital potential.
With Nigeria experiencing rapid digital development, the report highlights the potential for further growth, revealing that for every $1 invested in digital technology in Nigeria, there is over $8 gain in economic value.
This emphasises the critical role of digital technology, including connectivity, cloud computing, and artificial intelligence (AI), in shaping Nigeria’s economic future.
Director, West Africa at Google, Olumide Balogun highlighted Google initiatives that are empowering individuals, businesses, and communities across Nigeria, including Equiano subsea cable, which is enhancing internet connectivity and affordability across the region, Digital skills training programmes that are equipping Nigerians with in-demand digital skills; support for entrepreneurs that is nurturing a vibrant start-up ecosystem, among others.
He said these initiatives have significantly boosted Nigerian businesses, creators, and workers.
He said: “Google’s digital skills programs, including Digital Skills for Africa and the Career Certificates Program, have helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.
“We’re thrilled to see the positive impact that digital technology is having on Nigeria’s economy. This report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy.”
Nigeria’s digital front-runner
Also, Amy Price, Director & Head of Technology Policy at Public First, added: “Nigeria is a digital front-runner in Africa, and tech investment will be a powerful catalyst for further growth and development across the country.
This is particularly true when it comes to connectivity, cloud computing, and artificial intelligence.
The report estimates that AI could increase Nigeria’s economy by an additional $15 billion by 2030, with Google’s commitment to responsible AI development set to play a pivotal role.
In 2021, Google committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation. The Nigeria Digital Opportunity report illustrates how these investments are already creating lasting impacts in the country.
The report also provides strategic recommendations for policymakers, advocating for increased cloud-first policies and enhanced digital infrastructure to maximise AI’s potential in Nigeria.
It also highlights the need for stronger STEM education and AI fluency to prepare Nigeria’s workforce for the future.
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