The Role of Digital Technologies in Reshaping Nigeria’s Economy: A Pathway to Sustainable Growth

Abstract

This study examines the role of digital technologies in reshaping Nigeria’s economy and their contribution to sustainable economic growth. Against the backdrop of increasing digitalization across developing economies, the research investigates how key digital indicators, including internet penetration, fintech development, digital infrastructure and human capital, influence economic performance in Nigeria.
The study adopts a quantitative research design, utilizing secondary data obtained from reputable sources such as the World Bank, International Telecommunication Union, Central Bank of Nigeria and National Bureau of Statistics Nigeria, covering the period 2019–2024. Using descriptive and inferential statistical techniques, including regression analysis, the findings reveal that digital technologies exert a significant positive effect on Nigeria’s economic growth, both directly and indirectly, through improved financial inclusion, innovation and productivity. The results further highlight the mediating role of digital infrastructure and human capital in strengthening the impact of digital adoption on sustainable development outcomes.
However, challenges such as inadequate infrastructure, digital divide and policy inconsistencies continue to constrain the full realization of digital transformation benefits. The study concludes that while digital technologies present a viable pathway to sustainable economic growth in Nigeria, their effectiveness depends on strategic investments in infrastructure, inclusive digital policies and capacity development. It recommends that policymakers prioritize broadband expansion, strengthen regulatory frameworks for fintech and digital innovation and promote digital literacy to enhance inclusive participation in the digital economy. This study contributes to the growing body of literature on digital transformation and provides empirical evidence to inform policy and development strategies in emerging economies.