Nigeria’s digital economy is projected to generate $18.3 billion in revenue by 2026, underscoring the sector’s rapid expansion and its growing importance as a driver of economic growth.

The projection was disclosed by Olatunde Amolegbe, Managing Director and Chief Executive Officer of Arthur Stevens Asset Management Limited, during the Business Journal Annual Lecture 2025 held in Lagos. He noted that Nigeria’s digital economy has recorded steady growth over the years, rising from about $5.09 billion in 2019 to nearly $9.97 billion in 2021.

According to Amolegbe, the sector’s expansion is being driven by increased internet penetration, strong private-sector innovation, and the rapid growth of fintech and digital services. He added that emerging technologies, particularly artificial intelligence, are increasingly shaping productivity and creating new opportunities across multiple industries.

Experts say the sustained growth of Nigeria’s digital economy positions the country as one of Africa’s leading technology-driven markets, with the sector expected to play a central role in job creation, revenue generation, and long-term economic diversification.