ADVERTISEMENT

AI set to contribute $15 billion to Nigeria’s economy by 2030 - Google

Report revealed that in 2023, Google’s products and services which included Search, Ads, YouTube, and Cloud contributed an estimated $1.8 billion in economic activity across Nigeria

AI set to contribute $15 billion to Nigeria’s economy by 2030

Director, West Africa, Google, Olumide Balogun, said this at its Economic Impact Report Press Roundtable in Lagos.

Balogun said that the Public First’s Digital Opportunity of Nigeria Report’s projection would be achieved with Google’s commitment to responsible AI development playing a pivotal role. He said that the report revealed that in 2023, Google’s products and services which included Search, Ads, YouTube, and Cloud contributed an estimated $1.8 billion in economic activity across Nigeria.

He said that, according to the report, this estimated $1.8 billion had significantly boosted the productivity of Nigerian businesses, creators, and workers.

ADVERTISEMENT

Balogun noted that the study highlighted Google’s digital skills programmes, including Digital Skills for Africa and the Career Certificates Programme, as having helped millions of Nigerians.

“Over 1.5 million young adults learnt new digital skills in 2023 alone.

“With Nigeria experiencing rapid digital development, the report highlights the potential for further growth.

“According to the study, every $1 invested in digital technology in Nigeria generates over $8 in economic value.

“This emphasises the critical role of digital technology, including connectivity, cloud computing and artificial intelligence (AI) in shaping Nigeria’s economic future,’’ he said.

ADVERTISEMENT

Balogun said that Google was thrilled to see the positive impact that digital technology was having on Nigeria’s economy. According to the Google director, this report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy.

The director said that in 2021, Google committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs and fostering innovation. He said that the Digital Opportunity of Nigeria report illustrated how Google investments are already creating lasting impacts in the country.

Balogun said that the report also provided strategic recommendations for policymakers, advocating for increased cloud-first policies and enhanced digital infrastructure to maximise AI’s potential in Nigeria.

According to Balogun, it highlights the need for stronger Science, Technology Engineering and Mathematics (STEM) education and AI fluency to prepare Nigeria’s workforce for the future. The Director and Head of Technology Policy at Public First, Amy Price, said that Nigeria was a digital front-runner in Africa.

Price said that Nigeria’s tech investment would be a powerful catalyst for further growth and development across the country. The Public First director said that this was particularly true when it came to connectivity, cloud computing and AI.

ADVERTISEMENT

The News Agency of Nigeria reports that Public First is a public policy research agency with specialisation in economic, social and opinion research.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Naira depreciates by 0.6% against dollar

Naira depreciates by 0.6% against dollar

CoinPoker launches $1,000,000 Meme millions series featuring DOGE, SHIB & PEPE

CoinPoker launches $1,000,000 Meme millions series featuring DOGE, SHIB & PEPE

NBC empowers youths in Kano, Anambra, Ogun, Imo & Lagos with business grants

NBC empowers youths in Kano, Anambra, Ogun, Imo & Lagos with business grants

How can businesses opt for an effective cash flow management system?

How can businesses opt for an effective cash flow management system?

Telecom entrepreneurs raise concerns over borrow-me-credit scheme

Telecom entrepreneurs raise concerns over borrow-me-credit scheme

OPay partners with University of Ibadan to launch 10-year scholarship initiative

OPay partners with University of Ibadan to launch 10-year scholarship initiative

Richest Female Forex Trader in West Africa: Preshbae adds ₦180m Mercedes Benz AMG

Richest Female Forex Trader in West Africa: Preshbae adds ₦180m Mercedes Benz AMG

Avon HMO appoints Osakpamwan Imasogie as new CEO

Avon HMO appoints Osakpamwan Imasogie as new CEO

TECNO’S #ToneProud campaign defies AI bias, celebrates true skin tones

TECNO’S #ToneProud campaign defies AI bias, celebrates true skin tones

ADVERTISEMENT
ADVERTISEMENT