Facebook investments in infrastructure and connectivity will add $19.6bn to Nigeria’s Gross Domestic Product in the next five years, a study conducted by Analysys Mason has said.
The report titled ‘The Impact of Facebook Connectivity Initiatives in SSA’ said the increased connectivity enabled by Facebook’s OTNx investments could have a GDP impact of $2.5bn on Nigeria between 2020 and 2024.
As part of Facebook’s investment in OTNx, the report said 750 to 800 kilometers of fibre had been deployed in Nigeria in partnership with infrastructure provider, MainOne. “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.
According to the report, all these activities create benefits for individuals and wider economic and social benefits through improved health and welfare outcomes, skills and education, job creation and productivity.
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