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NIGERIA Digital Economy Diagnostic Report Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized NIGERIA Digital Economy Diagnostic Report Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized NIGERIA Digital Economy Diagnostic Report © 2019 The World Bank Group 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbankgroup.org Some rights reserved 1 2 3 4 21 20 19 18 This work is a product of the staff of The World Bank Group with external contributions. The findings, inter- pretations, and conclusions expressed in this work do not necessarily reflect the views of the World Bank Group, its Board of Executive Directors, or the governments they represent. The World Bank Group does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of the World Bank Group, all of which are specifically reserved. Rights and Permissions This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) http:// creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions: Attribution—Please cite the work as follows: World Bank Group. 2019. Nigeria Digital Economy Diagnostic Report. Washington, DC: World Bank. License: Creative Commons Attribution CC BY 3.0 IGO. Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by the World Bank Group and should not be considered an official World Bank Group translation. The World Bank Group shall not be liable for any content or error in this translation. Adaptations—If you create an adaptation of this work, please add the following disclaimer along with the attribution: This is an adaptation of an original work by the World Bank Group. Views and opinions expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by the World Bank Group. Third-party content—The World Bank Group does not necessarily own each component of the content contained within the work. The World Bank Group, therefore, does not warrant that the use of any third- party-owned individual component or part contained in the work will not infringe on the rights of those third parties. The risk of claims resulting from such infringement rests solely with you. If you wish to reuse a com- ponent of the work, it is your responsibility to determine whether permission is needed for that reuse and to obtain permission from the copyright owner. Examples of components can include but are not limited to, tables, figures, or images. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; e-mail: [email protected] CONTENTS Acknowledgments v Foreword vii Acronym List ix EXECUTIVE SUMMARY 1 1 INTRODUCTION 5 1.1 Country at a Glance: Nigeria 5 1.2 Background on Digital Economy and DE4A Moonshot 6 1.3 Rationale for Digital Economy Development 8 1.4 Diagnostic Methodology 9 2 DE4A FOUNDATIONAL ELEMENTS 11 2.1 Digital Infrastructure Pillar 11 2.1.1 Importance of Digital Infrastructure Pillar 11 2.1.2 Diagnostic Findings: Current State of Digital Infrastructure Pillar 12 2.1.3 Digital Infrastructure Recommendations and Next Steps 21 2.2 Digital Platforms Pillar 23 2.2.1 Importance of Digital Platforms Pillar 23 2.2.2 Diagnostic Findings: Current State of Digital Platforms Pillar 23 2.2.3 Digital Platforms Recommendations and Next Steps 33 2.3 Digital Financial Services Pillar 34 2.3.1 Importance of Digital Financial Services Pillar 34 2.3.2 Diagnostic Findings: Current State of Digital Financial Services Pillar 35 2.3.3 Digital Financial Services Recommendations and Next Steps 47 2.4 Digital Entrepreneurship Pillar 49 2.4.1 Importance of Digital Entrepreneurship Pillar 49 2.4.2 Diagnostic Findings: Current State of Digital Entrepreneurship Pillar 50 2.4.3 Digital Entrepreneurship Recommendations and Next Steps 55 2.5 Digital Skills Pillar 59 2.5.1 Importance of Digital Skills Pillar 59 2.5.2 Diagnostic Findings: Current State of Digital Skills Pillar 60 2.5.3 Digital Skills Recommendations and Next Steps 67 3 CONCLUSION: A WAY FORWARD 71 4 REFERENCES 73 5 ANNEXES 77 5.1 Digital Infrastructure Indicators and Indexes 77 5.2 Digital Entrepreneurship Indicators and Indexes 78 5.3 Innovation Hubs in Nigeria (accelerators, incubators, and co-working spaces) 80 5.4 Investors Active in Nigerian Digital Ecosystem (angel network and venture capital) 81 iv Nigeria Digital Economy Diagnostic Report ACKNOWLEDGMENTS This Report was prepared by a World Bank Group team led by Marc Lixi, Siegfried Zottel, and Isabel Neto, and included Feyi Boroffice, Karol Karpinski, Lindsey Tan Lim, Maryam Lawal, Natalia Agapi- tova, Olatunde Adetoyese Adekola, and Parminder Brar. Ivan Gonzales provided editorial support, which is gratefully acknowledged. The team benefitted from the insights of Nigeria’s country office technical staff and from the techni- cal support provided by Kofi Nouve, Muna Salih Meky, Saeeda Rashid, and Jana Kunicova. Overall guidance was provided by Rachid Benmessaoud, Indira Konjhodzic, Michel Rogy, Rashmi Shankar, and Douglas Pearce Additional guidance and contributions were provided by Andrej Popovic, Pierre Chrzanowski, Les- ley Denyes, Amandine Lobelle, Prasanna Las Das, Denny Mahalia Lewis-Bynoe, Inye Kemabonta, and Olasupo Olus. Furthermore, the team is grateful to the peer reviewers of this report—Ana Paula Cusolito, Cem Dener, Elena Babkova, Lyudmila Bujoreanu, Onur Ozlu, and Samuel Nganga—for their valuable comments. The team would like to express their sincere gratitude to all government and private sector organi- zations for their insights and generous cooperation during the diagnostic consultation and drafting of this report. The team would especially like to thank participating organizations and individuals that contrib- uted during the stakeholder workshop, including: Afrilabs, Benue State Ministry of Finance, Central Bank of Nigeria (CBN), COLAB, COMNavij, Edo State Government and Edo State ICT Agency, Federal Ministry of Communications (FMoC), Federal Ministry of Education (FMoE), GRID3-MFBN, HeckerBella, Kaduna State Government, National Information Technology Development Agency (NITDA), Nigerian Investment Promotion Commission (NIPC), Office of the National Security Advi- sor, (ONSA), Office of the Vice President (OVP), State House, and Ventures Platform Foundation. The report benefited from the funding provided by the Digital Development Partnership (DDP) and from IFC’s Creating Markets Access Window. The team also thanks Bill and Melinda Gates Foundation for their contribution to the DFS foundation under the overall DE4A framework. In addition, some funding from the Governance Partnership Facility was provided for the finalization of this report. The team thanks Naylor Design, Inc. for design and layout assistance. Nigeria Digital Economy Diagnostic Report v FOREWORD igeria is uniquely positioned to reap the benefits Internet via five undersea international links. Similarly, of the digital economy. Nigeria accounts for 47% Nigeria is home to several high-growth digital companies Nof West Africa’s population, and half of the coun- that provide hopeful examples of the country’s digital try’s 200 million people are under the age of 30. Nige- potential. Lagos is a mature and active ecosystem with ria has the largest mobile market in Sub-Saharan Africa, dynamic incubators, venture capital companies, digital supported by strong mobile broadband infrastructure and start-ups, and private services via digital platforms. And improved international connectivity; yet minimal fixed the potential of digital financial services remains untapped broadband infrastructure and connectivity in rural areas is despite the large share of unbanked population. leaving a significant number of the most marginalized seg- To deliver on the 2030 aspirations of greater access ments of the population without Internet access. to the digital economy and meet the bold objective of This Digital Economy for Africa (DE4A) Diagnostic creating 100 million jobs in Nigeria, the country needs to Report highlights the challenges and opportunities of the increase investment in infrastructure, create an enabling digital economy for Nigeria. This diagnostic argues that regulatory environment for the digital economy to grow accelerating access to digital technologies spurs innova- (e.g., regulatory enablers of DFS), pursue radical reforms tion, efficiency, and productivity, and as a result brings that bring about improved skills and a more competitive about choice and opportunities for greater growth and digital job market, support public-private partnerships to inclusion. stimulate and sustain demand for the use of digital plat- The report shows that many Nigerian citizens and busi- forms, and improve the current business climate to boost nesses remain excluded from the digital ecosystem as a more investment opportunities. result of limited access to broadband and nonavailability The World Bank
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