KEY POINTS
- Google invested $1.8 billion in Nigeria in 2023.
- AI could add $15 billion to Nigeria’s economy by 2030.
- Google’s digital skills programs trained over 1.5 million Nigerians in 2023.
Google said it injected about $1.8 billion into Nigeria’s economy in 2023 through economic activities generated by its products and services, including Search, Play, Android, YouTube, Cloud, and Ads.
Google’s $1.8 billion boost to Nigerian economy
The company also predicted that artificial intelligence could add $15 billion to Nigeria’s economy by 2030.
Google released these findings in a report issued Thursday, stating that the impact of its support in 2023 was equivalent to supporting over 200,000 jobs annually.
Unveiling the report, titled “The Digital Opportunity of Nigeria,” at its office in Ikoyi, Lagos, Google said the contribution was made possible by a robust digital economy, which the country has yet to fully tap into.
The report was conducted by global policy and strategy consultancy Public First, which specializes in economic modelling and opinion research. According to the report, there is significant economic potential for digital technologies in Nigeria if properly harnessed.
The report outlined how Google’s products and infrastructure are driving digital transformation and contributing to economic growth across Nigeria. In addition to showcasing this impact, it provided data-driven policy recommendations for stakeholders to maximize Nigeria’s digital potential.
With Nigeria experiencing rapid digital development, the report noted that for every $1 invested in digital technology, there is more than an $8 gain in economic value. This highlighted the critical role of digital technology, including connectivity, cloud computing, and artificial intelligence, in shaping Nigeria’s economic future.
Digital skills and AI key to Nigeria’s future growth
Olumide Balogun, director of West Africa at Google, highlighted several Google initiatives empowering individuals, businesses, and communities across Nigeria. The Equiano subsea cable enhances internet connectivity and affordability across the region, while digital skills training programs equip Nigerians with in-demand digital skills. Additionally, support for entrepreneurs nurtures a vibrant startup ecosystem.
Balogun said these initiatives have significantly boosted Nigerian businesses, creators, and workers.
“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,” Balogun said. “We’re thrilled to see the positive impact that digital technology is having on Nigeria’s economy.
According to a report by Vanguard, Amy Price, director and 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 for connectivity, cloud computing, and artificial intelligence.”
The report estimated 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.
