Google’s Tools Boost Nigeria’s Economy by $1.8 Billion in 2023 – Report
A new report by Public First has revealed that Google’s tools and services contributed an estimated $1.8 billion to Nigeria’s economy in 2023. The Nigeria Digital Opportunity report, released on Thursday, highlighted how services such as Google Search, Ads, Google Play, YouTube, and Google Cloud significantly boosted the productivity of Nigerian businesses, creators, and workers.
The report noted that Google’s digital skills programs, including its Career Certificates Program, were instrumental in equipping over 1.5 million young Nigerians with new digital skills in 2023 alone. As the country experiences rapid digital development, the report outlined the potential for further growth, especially through advancements in connectivity, cloud computing, and artificial intelligence (AI).
A key finding of the study emphasized that every $1 invested in digital technology in Nigeria generates over $8 in economic value. Looking ahead, the report estimated that AI could increase Nigeria’s economy by an additional $15 billion by 2030, with Google’s responsible AI initiatives set to play a pivotal role in this growth.
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The report also provided strategic recommendations for policymakers, advocating for cloud-first policies and enhanced digital infrastructure to maximize AI’s potential. It stressed the importance of strengthening STEM education and AI fluency to better prepare Nigeria’s workforce for the future.
Commenting on the report, Olumide Balogun, Google’s Director for West Africa, said, “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.”
Amy Price, Director & 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, especially in connectivity, cloud computing, and artificial intelligence.”
In 2021, Google announced a $1 billion commitment to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation. As part of that initiative, Google’s Equiano fibre-optic cable landed in Nigeria in 2022, connecting West Africa to Europe. The Equiano cable, which has 20 times more network capacity than its predecessor, is expected to increase Nigeria’s internet penetration by 7% by 2025, making internet access faster, more reliable, and affordable.
This investment is also driving Google-funded skills programs that are empowering young Nigerians and entrepreneurs to thrive in the digital economy.
