Google’s tools and services have injected an estimated $1.8 billion into Nigeria’s economy in 2023, according to the newly released Nigeria Digital Opportunity report by consultancy Public First.
The report, presented in Lagos, highlighted how services such as Google Search, Ads, Google Play, YouTube, and Google Cloud have significantly enhanced productivity across various sectors.
Olumide Balogun, Google’s Director for West Africa, remarked, “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.”
Balogun emphasized that the rapid advancements in areas like cloud computing and artificial intelligence (AI) position Nigeria as a key player in Africa’s digital landscape.
He stated, “The future of Nigeria’s economic growth will be driven by its ability to harness technology, and Google remains committed to supporting this journey through strategic investments and partnerships.”
The report notes that every $1 invested in digital technology generates over $8 in economic value, highlighting the vital role of digital initiatives in Nigeria’s growth. Looking ahead, AI is projected to contribute an additional $15 billion to Nigeria’s GDP by 2030, with Google poised to lead through its responsible AI development initiatives.
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Previously, Google pledged $1 billion in 2021 to bolster the digital economy across Africa, including the landing of the Equiano fibre-optic cable in Nigeria.
This initiative aims to enhance internet penetration by 7% by 2025, significantly improving access and reliability.
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Public First’s Director and Head of Technology Policy, Amy Price, reinforced Nigeria’s potential as a digital frontrunner in Africa. “Tech investment will be a powerful catalyst for further growth and development across the country, particularly in connectivity, cloud computing, and artificial intelligence,” she stated.
Price urged Nigerian policymakers to adopt cloud-first strategies and invest in STEM education to prepare the workforce for the digital economy’s future demands.
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