McKinsey Global Institute (MGI) has said that financial services within Nigeria’s digital economy could add $88 billion and create over three million new jobs over the next 10 years.
MGI is a worldwide business and economic research arm of McKinsey, established in 1990 to develop a deeper understanding of the evolving global economy.
In a communication to the Federal Ministry of Industry, Trade and Investment, the Institute also indicated that potential gains of the digital economy will be manifest in digital accounts, payments, mobile money, health and educational services and other sectors of the economy.
In response to the institute’s predictions, the Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah, who led Nigerian delegation to the meeting revealed that there are plans in place, as the ministry is developing ‘Smart Nigeria Digital Economy Project’ and that the objective is to solve efficiency problems and create leap-frog opportunities in the economy, improve competitiveness and foster technology development and innovation more generally.
According to him, the Smart Nigeria Digital Economy Project is poised to be Nigeria’s response to an area of intense economic and technological activity by Nigerian youths, where there is a growing pool of talent.