Google Plans to Invest $1 Billion in the Next Five Years in Nigeria

Google Inc, the world’s leading search engine, has promised to invest $1 billion in the next five years to support digital transformation in Nigeria and other African nations.

According to the tech giant, the investment will reduce internet prices by 21 percent and lead to a five-fold increase in internet speed in Nigeria and Africa as a whole.

The company stated this at the first Google for Africa event held on Wednesday.

Nitin Gajria, the Managing Director for Google in Africa, said, “Google remains committed to being helpful to every African business, person and classroom.

“Google is invested in building our global infrastructure to help bring everyone online.

“This includes Equiano, a state-of-the-art subsea cable that will connect Africa with Europe. We are already making tremendous progress on the construction of branches landing in Nigeria, Namibia, St Helena, and South Africa.

“Named after Olaudah Equiano, a Nigerian born writer and abolitionist, Equiano will provide approximately 20 times more network capacity than the last capable built to serve Africa.

“This will lead to a 21 per cent drop in internet prices, as well as a five-fold increase in internet speed in Nigeria, and almost triple in South Africa.”

He added that between 2022 to 2025, Equiano would indirectly create 1.7 million jobs in Nigeria and South Africa because of the expansion of the digital economy and peripheral sectors.