Google Services Boost Nigeria’s Economy By $1.8 Billion — Report

A new report by Public First focusing on the impact of digital technologies in Nigeria has revealed that Google’s tools and services grew Nigeria’s economy by an estimated $1.8 billion in 2023.

The Nigeria Digital Opportunity report released on Thursday indicated that the services that generated the amount for Nigerians include Google Search, Ads, Google Play, YouTube, and Google Cloud, which significantly boosted the productivity of Nigerian businesses, creators, and workers.

It added that Google’s initiatives—including its digital skills programs and the Career Certificates Program have helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.

Digital growth opportunity for Nigeria
With Nigeria experiencing rapid digital development, the report highlights the potential for further growth.

According to the study, every $1 invested in digital technology in Nigeria generates over $8 in economic value.

This emphasizes the critical role of digital technology, including connectivity, cloud computing, and artificial intelligence (AI), in shaping Nigeria’s economic future.

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.

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.

Additionally, it highlights the need for stronger STEM education and AI fluency to prepare Nigeria’s workforce for the future.
Investment in digital skills

Commenting on the findings of the report, the Director for West Africa at Google, Olumide Balogun, stated:

“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.”

In her comments, the Director & Head of Technology Policy at Public First, Amy Price, 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.”

What you should know
In 2021, Google announced a commitment of $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation.

As part of that investment, in 2022, Google’s Equiano fibre-optic cable landed in Nigeria, connecting western Africa to Europe.

With around 20 times more network capacity than the last cable built to serve the region, Equiano is projected to bring an internet penetration increase of 7% in Nigeria by 2025, making internet access faster, more reliable, and more affordable.

The investment is also powering several Google-funded skills programs tailored to young people and entrepreneurs in Nigeria.