In a recent report by Google titled “The Digital Opportunity of Nigeria”, it revealed that in 2023, Google’s suite of tools, including Google Search, Google Play, YouTube, Google Cloud, and advertising platforms, contributed an estimated $1.8 billion to Nigeria’s economic activity.
These benefits extended across businesses, nonprofits, publishers, creators, and developers, empowering growth, job creation, and innovation. Recent estimates by Public First noted that every $1 invested in digital technology adds a remarkable $8 to the Nigerian economy, with particular opportunities when it comes to connectivity, cloud computing, and artificial intelligence.
This significant economic contribution isn’t just about the country’s GDP growth, it represents tangible advancements for Nigerian businesses and individuals alike. Tools like Google Search, YouTube, and Google Workspace have become central to daily life in Nigeria, with Nigerians ranking these products among the top ten innovations of the past thirty years.
Tekedia Mini-MBA edition 15 (Sept 9 – Dec 7, 2024) has started registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Google Search, in particular, stands out as a free resource that creates value for both businesses and consumers. Economists quantify this value through a concept known as “consumer surplus,” which measures the worth of a free product to users. In Nigeria, Google Search’s consumer surplus is estimated at $9.9 per month per user, totaling nearly $119 annually.
In addition to its core services, Google’s skills development programs are playing a key role in enhancing Nigeria’s technological capabilities. The Google Career Certificates Programme has helped 16,500 Nigerians acquire advanced skills in areas like cybersecurity, programming, and digital marketing, with 80% of graduates reporting positive career outcomes within six months.
Notably, Google tools are making the daily lives of Nigerian workers easier. Services like Google Search save employees time by offering rapid answers to a range of complex questions, while Google’s tailored productivity suite Workspace helps workers keep on top of workstreams and collaborate more effectively.
In total, it was estimated that Google Search and Google Workspace save workers over 22 million hours a week in Nigeria. This is the equivalent of producing a $4.7 billion improvement in productivity across the country.
Furthermore, Google has committed to investing in the future of underserved communities in Nigeria. In 2023, the company announced a $1.5 million grant to train 20,000 Nigerian women and youth in essential digital skills, supporting the government’s efforts to create over one million internet-based jobs.
Key Findings from the Report:
•In 2023, Google Search alone created a consumer surplus for the average online adult in Nigeria worth $9.9 a month, or almost $119 a year.
•Online adults in Nigeria identified Google Search as the most helpful innovation of the last few decades.
•Google Search and Google Workspace help knowledge workers save over 22 million hours a week, equivalent to a $4.7 billion improvement in productivity.
•9 in 10 YouTube Creators agree that YouTube has given them a platform to share their creativity and culture with others – whilst also monetizing their content.
Google’s impact also extends globally. With tools like Search and Ads, Nigerian businesses are reaching international markets. 83% of online businesses in Nigeria believe search engines have simplified the process of connecting with global customers, helping to support $608 million in exports.
Through its products, services, and tailored programs, Google is not only driving Nigeria’s economic prosperity but also transforming the lives of its people, ensuring that the country remains competitive in the global digital economy.