In a groundbreaking revelation, the World Bank has unveiled significant progress in Nigeria’s fight against extreme poverty. According to the latest brief titled “Digital Transformation Drives Development in Africa,” the World Bank estimates that improved access to internet coverage has resulted in an impressive seven per cent decline in extreme poverty in both Nigeria and Tanzania over a span of three years.>>>CONTINUE FULL READING HERE....CONTINUE READING THE ARTICLE FROM THE SOURCE
The report, disclosed in 2023, underscores that the positive impact of increased internet accessibility goes beyond poverty alleviation. Alongside the poverty reduction, the study highlights a notable 8% increase in labor force participation and wage employment in the two African nations.
Sharing insights on the findings, Andrew Dabalen, the World Bank Chief Economist for Africa, emphasized, “Underutilizing mobile internet represents a missed opportunity for inclusive growth in Africa. Closing the uptake gap would enhance the continent’s capacity to generate jobs for its expanding population and bolster economic recovery in an increasingly digitalized world.”
The brief underscores the pivotal role of digital infrastructure in propelling economic growth, fostering innovation, and creating employment opportunities. Over the past five years (2016-2021), sub-Saharan Africa has witnessed an extraordinary 115% surge in internet users, significantly contributing to the region’s development.
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