Google services boost Nigeria’s economy by $1.8 billion in 2023

Google’s tools and services enabled Nigeria’s economy by an estimated $1.8 billion in 2023.

This is according to 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 report tagged: ‘The Nigeria Digital Opportunity’ released yesterday, 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 programmes and the Career Certificates Program have helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.

The report, which noted that Nigeria is experiencing rapid digital development, highlighted 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 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.

The report provided 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.

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 and 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.”