Report: Google Products Generated $1.8bn to Nigerian Economy in 2023

Emma Okonji

Google, yesterday, released an independent report carried out by Public First, a global policy and strategy consultancy, specialising in economic modelling and opinion research. 

The report, tagged, “Google Nigeria Economic Impact Report,” highlighted the transformative impact of digital technologies on Nigeria’s economy, and how Google’s products and infrastructure were driving digital transformation and contributing to economic growth across the country.

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

According to the study, 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, which significantly boosted the productivity of Nigerian businesses, creators, and workers.

The report further explained that every $1 invested in digital technology in Nigeria generated over $8 in economic value, which emphasised the critical role of digital technology, including connectivity, cloud computing, and artificial intelligence (AI), in shaping Nigeria’s economic future.

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. Additionally, it highlighted the need for stronger Science, Technology, Engineering and Mathematics (STEM) education and AI fluency to prepare Nigeria’s workforce for the future.

The report’s findings showed that Google’s digital skills programmes, including Digital Skills for Africa and the Career Certificates Programme, had helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.

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.

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

Analysing the report, Director, West Africa at Google, Olumide Balogun, said, “We are thrilled to see the positive impact that digital technology is having on Nigeria’s economy. The report underscores the importance of continued investment in digital skills and infrastructure to unlock the full potential of Nigeria’s vibrant digital economy.”

Director/Head of Technology Policy at Public First, Amy Price, said, “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.”

Speaking at a panel session yesterday to discuss the report, moderated by Communications Manager, Google West Africa, Taiwo Ogunlade, the Search Product Partnerships Manager at Google, Ugochi Agoreyo, highlighted the opportunities and challenges which AI was addressing across several sectors of the Nigerian economy. Agoreyo called for government partnership to address some of the identified challenges.

Head, Government Relations and Public Policy at Google West Africa, Adewolu Adene, in his submission, stressed the need for rapid acceleration of digital skills in Nigeria, using AI to boost STEM education.  According to him, Gemini, which is Google’s AI model, helps to drive efficiencies and everything from education to coding.