The new Google’s Equiano Cable system is expected to boost employment by 1.6 million jobs in Nigeria and also contribute $10 billion to the nation’s Gross Domestic Product (GDP) by 2025.
This was disclosed by the Lagos State Governor, Mr Babajide Sanwo-Olu via a statement issued at the reception marking the landing of the Equiano Sea Cable system in Nigeria on Thursday.
According to the Governor, the new Equiano cable system will deliver twenty times as much network capacity as any of the existing systems serving Nigeria and this means much faster internet speeds, reduced cost, and greater access for our people.
What the Governor is saying about the new cable system
He said, “The net effect of this is much-needed jobs and economic growth. The economic impact assessment for the project estimates that Nigeria will enjoy a boost of 1.6 million jobs and $10 billion in additional Gross Domestic Product (GDP) over the next three years, on account of the new cable system.
What Google is saying
“Since 2017, the Nigerian government has been actively working on its digital transformation programs as part of plans to grow its domestic sectors. These initiatives have proven pivotal to the success of many industries in the country, especially the start-up space. In the last five years, start-ups in Nigeria have produced five unicorns (start-ups valued at over a billion dollars).
“Businesses are also benefiting significantly from the usage of internet platforms, with total e-commerce annual expenditure predicted to climb to $75 billion by 2025, up from its current projection of $12 billion.”
With all due respect, this is a good story but poor reporting.
These are not “disclosures” by the Lagos Governor, but rather estimates and predictions. The Governor is predicting what MIGHT happen, all things being equal. He is not disclosing what WOULD happen, as he is neither omnipotent not some sort of seer.