A new report reveals that Google’s tools and services added an estimated $1.8 billion to Nigeria’s economy in 2023. The report, presented by consultancy Public First, highlighted the significant impact of Google’s services, including Google Search, Ads, Google Play, YouTube, and Google Cloud, in driving productivity and growth across Nigerian businesses, content creators, and workers.
The Nigeria Digital Opportunity report, unveiled in Lagos on Thursday, showcased how digital services are transforming the country’s economy.
Google’s Director for West Africa, Olumide Balogun, expressed excitement over the findings, saying, “We’re thrilled to see the positive impact that digital technology is having on Nigeria’s economy.”
Balogun stressed the importance of continued investment in Nigeria’s digital space.
“This report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy,” he added.
In 2023, Google’s digital skills programs and career certificates played a key role in driving Nigeria’s digital transformation. The report revealed that over 1.5 million young Nigerians acquired new digital skills through these initiatives, positioning the country as a growing digital hub in Africa.
Balogun further emphasized the future potential for Nigeria to become a leading digital economy, particularly with advancements in cloud computing, artificial intelligence (AI), and connectivity.
“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,” he said.
The report underscored the critical role digital technology plays in Nigeria’s economy, noting that every $1 invested in digital technology generates over $8 in economic value. It also projected that AI could contribute as much as $15 billion to Nigeria’s economy by 2030, with Google playing a pivotal role through its AI initiatives.
Amy Price, Director and Head of Technology Policy at Public First, echoed this optimism, calling Nigeria a “digital frontrunner in Africa.”
She explained, “Tech investment will be a powerful catalyst for further growth and development across the country, particularly in areas like connectivity, cloud computing, and artificial intelligence.”
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Google has been heavily investing in Nigeria’s digital infrastructure. In 2021, the company committed $1 billion to support the digital economy across Africa. One of its key investments, the landing of the Equiano fibre-optic cable in Nigeria in 2022, is expected to increase internet penetration by seven percent by 2025, enhancing internet access and reliability across the country.
As Nigeria continues to grow its digital capabilities, the report recommended that policymakers adopt cloud-first strategies and strengthen digital infrastructure to maximize AI’s potential. It also highlighted the need for improved STEM education to prepare the workforce for future opportunities in the digital space.
Price added that investing in digital infrastructure and education is crucial for Nigeria’s economic future.
“To maximize this potential, Nigeria must focus on building a strong digital infrastructure and investing in STEM education to prepare its workforce for the jobs of tomorrow,” she said.