Digital Opportunity of Nigeria – report

Every $1 invested in digital technology in Nigeria contributes $8 to the country’s economy, illustrating the high return on investment in the sector.

The Director for West Africa at Google, Olumide Balogun has announced the launch of the “Digital Opportunity of Nigeria” report, commissioned by Google and independently conducted by Public First, a global policy and strategy consultancy.

The comprehensive report provides a detailed look at how digital technology is reshaping Nigeria’s economy and indicates the enormous potential for future growth. According to Mr. Balogun, Nigeria is poised to leap forward through strategic investment in digital infrastructure, human capital, pro-competitive and open digital policies, and tech innovation.

The report captures Four Key Findings:

• Massive ROI: Every $1 invested in digital technology in Nigeria generates over $8 in economic value. This underscores the sector’s high return on investment.
• Google’s Impact: In 2023 alone, Google’s products and services, including Search, Ads, YouTube, and Cloud, contributed an estimated $1.8 billion to Nigeria’s economy.
• Digital Skills Development: Google’s digital skills programs have helped millions of Nigerians acquire new digital competencies. Over 1.5 million young adults learnt new digital skills in 2023.
• AI’s Economic Potential: The report estimates that AI could boost Nigeria’s economy by an additional $15 billion by 2030. Google’s commitment to responsible AI development is expected to be crucial in realizing this potential.

Read the full report:

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