Kelvin Jiraji, co-chair of the G-20 Africa Digital Economy Summit (AfriDES), has emphasized Nigeria’s booming digital economy, noting its 14.8% contribution to the country’s GDP in the first quarter of 2024.
This figure surpasses the oil sector’s contribution, which stands at 7-8%. Jiraji made the statement during a press briefing in Abuja ahead of the Africa Digital Economic Summit, scheduled to take place during the G-20 Summit in Sao Paulo, Brazil, in October.
Jiraji attributed the digital economy’s growth to the integration of digital infrastructure, which has also significantly boosted Value-Added Tax (VAT) revenues and overall economic output.
He noted that the upcoming summit, themed “Digital Transformation for Sustainable Growth: Africa’s Path to a Connected Future,” aligns with Africa’s efforts to achieve its Digital Economy Policy and Strategy.
The summit, to be held from October 27th to 31st, 2024, will bring together key players from FinTech, digital policy-making, and other strategic sectors. Jiraji expressed confidence that the summit will generate new ideas and initiatives to further drive economic transformation and development across Africa, creating wealth and job opportunities in the process.
