Google has announced that it injected approximately $1.8 billion into Nigeria’s economy in 2023, due to economic activities generated by its diverse products and services, including Search, Play, Android, YouTube, Cloud, and Ads.
At the unveiling of a report titled The Digital Opportunity of Nigeria took place at its office in Ikoyi, Lagos, Google noted the significant economic impact that digital technologies can have on the nation if harnessed effectively.
Conducted by the global policy and strategy consultancy Public First, the report demonstrates that Google’s contributions are equivalent to supporting over 200,000 jobs annually.
In addition to the impressive financial injection, Google forecasts that Artificial Intelligence (AI) could add $15 billion to Nigeria’s economy by 2030.
The optimistic outlook is rooted in the findings that for every $1 invested in digital technology, Nigeria can expect over $8 in economic value—a testament to the crucial role digital technology, including connectivity, cloud computing, and AI, will play in shaping the country’s economic future.
Olumide Balogun, Director for West Africa at Google, emphasized the positive outcomes of Google’s initiatives in Nigeria, stressing that they are aimed at empowering individuals, businesses, and communities.
He said among the initiatives is the Equiano subsea cable, which significantly enhances internet connectivity and affordability across the region.
Furthermore, he said Google’s digital skills training programs are equipping Nigerians with in-demand skills, fostering a vibrant start-up ecosystem, and nurturing entrepreneurship.
Balogun noted, “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.”
He expressed enthusiasm over the ongoing positive impact of digital technology on Nigeria’s economy, highlighting the importance of continued investment in digital skills and infrastructure to unlock the full potential of the vibrant digital landscape.
Amy Price, Director and Head of Technology Policy at Public First said, “This is particularly true when it comes to connectivity, cloud computing, and artificial intelligence.”
Google’s commitment to responsible AI development is highlighted as a key factor that will shape Nigeria’s economic landscape.
The report articulates strategic recommendations for policymakers, advocating for increased cloud-first policies and improved digital infrastructure to harness AI’s full potential.
It also stressed the need for enhanced STEM education and AI fluency to prepare Nigeria’s workforce for future opportunities.
In 2021, Google made a significant commitment of $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation.
Experts say Google’s substantial contributions and strategic initiatives could pave the way for a more inclusive and innovative economy, positioning the nation as a leading player in the global digital landscape.
