The Impact of Digital Innovation on Economic Growth in Nigeria

Abstract

In view of this research, we have examined the important impacts of digital innovation on the Nigerian economy, with a focus on the use of information and communication technology (ICT) in the country. In especially in the rural areas, the National Policy on Information and Communication Technology has been crucial in restoring the health of technological platforms like power and broadband networks. One of the main initiatives is the promotion of legislative changes, with additional objectives aimed at helping companies and enterprises and improving assistance for new comers. Business sectors, including agriculture, production, healthcare, and finance, have felt the effects of digital transformations, which have led to Furthermore, the article analyses the role of social connectivity, the digital divide, and the development of communities. Benefiting from a young and technologically literate population in Nigeria, the growth of the technology sector has led to significant employment opportunities. The growth of the technology sector has resulted in significant employment opportunities. However, there are still challenges that remain unsolved, and this article proposes comprehensive solutions to address these concerns, including educational programmes, public awareness campaigns, and financial vestments. We utilized relevant published data (2004–2014) from diverse, reliable databases. This review has examines the potential of digitization to propel economic growth in Nigeria. Findings suggest that it’s crucial for the government, private sector, and non-profit organisations to foster a mutually beneficial partnership to ensure the equitable distribution of these benefits throughout the country. Ensure that the benefits of digitization are distributed equally throughout the country. Keywords: Digital Innovation, Economic Growth, ICT Integration, Entrepreneurship, Startup Ecosystem, Social Connectivity, Nigeria.