2024

World

Impact

A new report released today by Google has indicated that the company’s products and services (Search, Play, Android, YouTube, Cloud, and Ads) contributed an estimated $1.8 billion to Nigeria’s businesses, nonprofits, publishers, creators and developers in 2023. This impact is equivalent to supporting over 200,000 jobs annually. 
The Digital Opportunity of Nigeria report, conducted independently by <a href="https://technext24.com/2024/09/18/report-google-contributed-16bn-africa/">Public First</a> outlines how Google’s products and infrastructure are driving digital transformations and contributing to economic growth across the country. 
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. 
Speaking to media representatives at the launch of the report, Olumide Balogun, Director, of West Africa at Google explained that the report reflects the company’s belief in the power of technology to drive economic growth, create jobs and uplift communities. 
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 Olumide Balogun, Google West Africa Country Director
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“You know, everyone talks a lot about how cool technology is, but, at Google, we think about the meaningful difference that it makes in the lives of people around us, as you can see in the stories that we have shared there. We are thrilled to see how many more of those stories can we create with the work that we do at Google”, he explained. 
Amy Price, Director &amp; Head of Technology Policy‬‭ at Public First said that the research emphasises the‬ strategic importance of connectivity, cloud computing and artificial intelligence and explores‬ Google’s leadership in these areas. 
“Nigeria is a digital front-runner in Africa, and tech investment will be a powerful catalyst for further growth and development across the country. Nigeria has this opportunity to be a real global economic powerhouse in the digital and tech space. And you know, to draw from our opinion polling, Nigerians themselves are excited about this”, she explained. 
The report also provides strategic recommendations for policymakers, advocating for increased cloud-first policies and enhanced digital infrastructure to maximise AI’s potential in Nigeria. 
Additionally, it highlights the need for stronger STEM education and AI fluency to prepare Nigeria’s workforce for the future. 
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<h5 id="key-findings-from-the-report" class="wp-block-heading">Key Findings from the Report:</h5> 
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 <li>Nigeria is in the midst of economic modernisation. Bouncing back from the pandemic, the World Bank predicts the country’s GDP to grow at an increasing rate over the next few years – 3.7% in 2024 and 4.1% in 2025</li> 
 <li>The report estimates 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.</li> 
 <li>Every $1 invested in digital technology in Nigeria contributes $8 to the country’s economy, illustrating the high return on investment in the sector.</li> 
 <li>In 2023, Google’s products and services—including Search, Ads, YouTube, and Cloud—contributed an estimated $1.8 billion in economic activity across Nigeria. This has significantly boosted the productivity of Nigerian businesses, creators, and workers.</li> 
 <li>74%&nbsp;of online adults in Nigeria think it is very likely they will explore more AI-powered tools in the next year – and are interested in a range of potential benefits offered by the emerging technology.</li> 
 <li>Google’s digital skills programs, including Digital Skills for Africa and the Career Certificates Program, have helped millions of Nigerians, with over 1.5 million young adults learning new digital skills in 2023 alone.</li> 
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The report illustrates how these investments are already creating lasting impacts in the country. 
<h4 id="googles-impact-in-nigeria" class="wp-block-heading">Google’s Impact in Nigeria</h4> 
In 2021, Google committed $1 billion to accelerate Africa’s digital economy, focusing on improving internet access, supporting local entrepreneurs, and fostering innovation. This includes the commitment to internet connectivity, access and affordability through Google’s Equiano subsea fibre-optic cable which landed in Lagos in late 2022. 
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 Equiano Route Map
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With around 20 times more network capacity than the last cable built to serve the region, Equiano is projected to bring an internet penetration increase of 7% in Nigeria by 2025, making internet access faster, more reliable, and more affordable. 
In 2023, Google announced a&nbsp;$1.5 million&nbsp;grant to train 20,000 Nigerian women and youth from underserved communities with essential 21st-century skills, as part of plans to support the Nigerian government’s programs to create more than one million new internet-based jobs. 
Programmes including the Black Founders Fund, Hustle Academy and Google for Startups Accelerator: AI First, are all providing support to Nigerian entrepreneurs and young businesses by facilitating access to funding and bridging skills gaps through tailored training. 
Apps like Google Maps are similarly making&nbsp;navigation and travel more efficient. Lagos, Nigeria’s largest city, is often regarded as the most congested metropolis in the world, with commuters spending an average of 30 hours in traffic each week. In this context, Google Maps provides an important resource for residents of the city, helping them to avoid congestion. 
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When it comes to communicating with others, Google Translate is helping to connect Nigerians from different linguistic communities. The tool has supported Nigeria’s three most common local languages (Hausa, Igbo and Yoruba) for over a decade – and, as of June 2024 – Google Translate now uses AI to support more African languages than ever before. 
In all, the report estimates that Google Search and Google Workspace save workers over&nbsp;22 million&nbsp;hours a week in Nigeria. This is the equivalent of producing a&nbsp;$4.7 billion&nbsp;improvement in productivity across the country. 
For more information and to access the full report, visit&nbsp;<a href="https://googlenigeria.publicfirst.co.uk/" target="_blank" rel="noreferrer noopener">here</a>.
The post <a href="https://technext24.com/2024/10/03/google-products-generated-1-8-bn-2023/">Impact: Google Products generated $1.8 billion in economic activity in 2023- Report</a> first appeared on <a href="https://technext24.com">Technext</a>.

Impact: Google Products generated $1.8 billion in economic activity in 2023- Report

Technext.ng

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