‘Nigeria can generate $2tr via digital investments’
To boost productivity returns for organisations and improve the nation’s economy, policy makers, business leaders and government have been advised to optimize their digital investment to unlocking the untapped values.
Besides, the smarter use of digital skills, technologies and other assets, could boost productivity and generate $2 trillion of additional economic output by 2020 in Nigeria.
These were part of the submissions of the Country Manager for Accenture Nigeria, Niyi Yusuf, while highlighting the Accenture Strategy, at the just concluded Social Media Week, held in Lagos.
Yusuf noted that by raising digital investments, organisations and economies can be more competitive, productive and bring quality of life to people.
This, according to him, indicated that high-performing economies could realize better returns from the optimal combination of investments in digital skills, digital technologies and digital accelerators.
However, he cited an example that business and policy leaders may have invested heavily in digital technologies, but have neglected to prepare for the workforce of the future.
“The smarter use of digital skills, technologies and other assets, could boost productivity and generate $2 trillion of additional economic output by 2020. According to the research, digital investments can act as a growth multiplier in the coming years.
“Take the United States where adjustments in investments in digital skills, digital technologies and digital accelerators in line with our calculations could see the nation increase its gross domestic product by 2.1 per cent—which equates to $421 billion in 2020”, he stated.
He said findings have also showed how adjusting three levers—digital skills, digital technologies and digital accelerators—can enhance the overall digital intensity and act as a growth multiplier.
In his explanation of the three levers, which consist of a collection of broad and specific indicators, Yusuf said: “Digital skills measures elements such as the information, communications and technology expertise in the workforce or the use of digital to facilitate remote working.
Digital technologies include mobile connectivity and the economy’s capacity to make use of the industrial Internet. Finally, digital accelerators include wide-ranging parameters such as making use of the cloud or access to finance or the economy’s regulatory burden.”
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