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
reveals compelling statistics, including that every dollar invested in digital
technology generates $8 in value for the Nigerian economy. Google alone
contributed $1.8 billion in economic activity in 2023.
Additionally,
the report estimates that artificial intelligence (AI) could add a staggering
$15 billion to Nigeria's economy, while a 1% increase in connectivity is
associated with a 5.7% increase in GDP.
He then noted the
importance of building a strong human capital base, equipping Nigerians with
digital skills to participate in the digital economy, citing Google's
contributions to Nigeria's digital infrastructure, including the Equiano subsea
cable, projected to increase internet penetration by 7% by 2025.
The
"Digital Opportunity of Nigeria" report serves as a roadmap for
Nigeria's digital transformation, outlining key pillars for growth and
development.
By: Nana Appiah Acquaye
