Technology News, World Technology News, Breaking Tech News e.t.c
  • Computing
  • Internet
  • Mobile Tech
  • Science
  • Security
  • Tech Africa
  • Tech Business
  • Empowerment
  • Contact Us
Technology News, World Technology News, Breaking Tech News e.t.c
Banner
  • Computing
  • Internet
  • Mobile Tech
  • Science
  • Security
  • Tech Africa
  • Tech Business
  • Empowerment
  • Contact Us
Tag:

GDP

Tech Africa

Report: Facebook Investment in Internet Will Contributes $19.6 Billion to Nigeria’s GDP

by tech_admin July 29, 2020
written by tech_admin

Facebook infrastructure and networking investment over the next five years will bring Nigeria’s gross domestic product to $19.6 billion, according to a report by Analysys Mason.

The study entitled ‘The Impact of Facebook Connectivity Initiatives in SSA’ says that growing Facebook connectivity through OTNx Investments may have a GDP effect of $2.5 trillion for Nigeria from 2020 to 2024.

The research firm estimated that Nigeria will be contributing $16.9bn to Facebook’s edge network and submarine investment, while Express Wi-Fi would boost the country’s GDP by $160.7 m.

Analysys Mason said all of Facebook’s connectivity initiatives will bring $57bn worth of economic benefits to sub-Saharan Africa from 2020 to 2024.

The study, in collaboration with infrastructure provider MainOne, says that 750 to 800 km of fiber is used in Facebook investment in OTNx.

“An estimated 700,000 people in Uganda and 300,000 people in Nigeria got online earlier than they would have without the OTNx investments, producing an economic impact of almost $4bn between 2020 and 2024,” it said.

Analysys Mason projected that Facebook’s investments in edge network and international capacity across sub-Saharan Africa will cause total Internet traffic to rise by nine per cent by 2024.

“Based on the GSMA and Deloitte study, this higher traffic could increase the GDP-per-capita growth rate by 0.12 percentage points in each of the next five years, equivalent to a cumulative GDP contribution of more than $53bn across sub-Saharan Africa over the next five years,” it said.

The study says some of the economic benefits include increasing operators’ ability to expand large network coverage and making it easier for more people to go online.

This increases in web and Web traffic have been interpreted by researchers to mean that people can communicate more closely with each other and trade online.

All these activities generate advantage for individuals and more general economic and social benefits by enhancing health and welfare outcomes, skills and training, job development and productivity, according to the study.

Facebook Director of Public Policy Kojo Boakye commented on this article that the technology company is committed to Africa , in particular to boost the continent’s global competitiveness.

He said, “Over the last three years we’ve heavily invested in infrastructure and connectivity initiatives that aim to affordably connect people on this continent and create tangible social-economic benefits.”

“These efforts are part of a complex solution that requires all stakeholders – including mobile operators, infrastructure providers and governments – to work together for the common good.”

 

July 29, 2020 0 comment
0 FacebookTwitterPinterestLinkedinTumblrRedditStumbleuponWhatsappTelegramLINEEmail

Keep in touch

Facebook Twitter Whatsapp

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Related News

  • Nigeria To Examine The Rate Of Termination On International Calls

    September 23, 2020
  • Facebook’s New Lagos Office To Build Opportunities Through African Technology

    September 23, 2020
  • Trump To Block TikTok, WeChat Downloads On Sunday

    September 18, 2020
  • Playstation 5 To Be Launched In November 12

    September 18, 2020
  • Lawsuit Accuses Facebook Of Using Cameras To Spy On Instagram Users

    September 18, 2020

Facebook Feed

Facebook

Popular Posts

  • 1

    Playstation 5 To Be Launched In November 12

    September 18, 2020
  • 2

    SECURITY: 40GB Training Videos of Iran-Linked Hackers Leaked by Mistake

    July 19, 2020
  • 3

    Screen Sharing Now Added to Facebook Messenger on Android & iPhone

    July 19, 2020
  • 4

    BREAKING NEWS: Elon Musk Is Now The World’s Fifth Richest Person

    July 21, 2020

Tech Africa

  • Nigeria To Examine The Rate Of Termination On International Calls

    September 23, 2020
  • NIGERIA: Edo Govt Partners Amazon, Focuses On Cloud Computing Technology

    September 15, 2020
  • NOTAP Leader Advanced Investment In Research And Development For Growth

    September 11, 2020
  • NIGERIA: Buhari Grants NIMC Transition to the Ministry of Communications

    September 10, 2020

Join Us

  • Facebook
  • Twitter
  • Whatsapp

@2020 - All Right Reserved. Designed by LepyKay