. Google, CEOs, and govt leaders commit to Nigeria’s digital economy
Search giant Google, leading chief executive officers (CEOs) and government leaders have pledged commitment towards advancing Nigeria’s digital economy and supporting businesses facing economic headwinds.
This was revealed when Google brought together top CEOs, government officials, and industry leaders at the 30th Nigerian Economic Summit (NES30) in Abuja.
At the roundtable, themed: “Leveraging Digital Solutions to Navigate Economic Volatility,” it was revealed that businesses in Nigeria are reporting 46 per cent revenue decline due to rising inflation in the country.
According to speakers, as Nigeria stands on the threshold of significant economic change, the country faces both complex challenges and vast potential. They noted that with a rapidly growing tech sector and a young, dynamic population, Nigeria is poised to become a leader in digital innovation across Africa, stressing that digital transformation is essential for boosting economic growth, increasing productivity, and improving living standards.
According to them, research showed that for every $1 invested in digital technology, $8 is generated for the Nigerian economy—underscoring the immense value of embracing the digital shift.
With speakers including the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, and former CEO of the Nigerian Economic Summit Group, Laoye Jaiyeola, they highlighted the urgent need for collaboration across sectors to drive progress.
An insight from a CEO survey conducted by Africa Practice shared at the event revealed that 46 per cent of businesses reported revenue declines due to inflation and macroeconomic pressures, “Yet, despite these hurdles, 70 per cent of business leaders are actively looking to digital solutions to adapt, innovate, and fuel future growth. This widespread adoption of digital tools signals a strong readiness among Nigerian businesses to embrace technology as a transformative force.”
While leaders at the roundtable are committed to action, it was revealed that financial constraints, insufficient infrastructure, and limited access to foreign currency remain key barriers to adoption.
Government representatives pledged to fast-track the digitisation of public services, improve cross-agency collaboration, and address fiscal barriers to support digital transformation.
Meanwhile, Google committed to exploring local payment solutions through partnerships, ensuring greater access to digital tools for businesses across Nigeria.
Oyedele stated: “I’m excited about forums like this between the private and public sector because of the opportunity to hear from one another and ideate. I’m a firm believer in working together because the private sector cannot thrive without carrying along the public sector. Digital transformation should be mobilised within government as foundationary and by beginning this dialogue and continuing momentum, we can achieve a true shift in how Nigeria operates, with a digital-first mindset.”
On his part, Jaiyeola said policy formation is only as effective as the effort behind it, stressing that over the years, “we’ve seen businesses engage briefly but move on if there’s no immediate solution. The NESG through its Digital Economy Policy Commission provides a platform for the private sector to make meaningful contributions in advancing digital solutions.”
West Africa Director at Google, Olumide Balogun, highlighted the power of collaboration, stating: “Technology holds the power to transform lives and economies. We believe that by working together—across government, business, and communities—we can unlock the immense potential that Nigeria’s digital economy holds for the future.”
