Effect of Digital Economy on Nigerian Economy in the 21st Centuary

Abstract

 The Digital economy in the Nigerian economic  development was a transformation from the 
traditional economic activities to more sophisticated electronic model in the process of economic 
development where ICT technologies become integrated into more verticals and bedrock of the 
digital economic development. The features of digital economy include: the digital infrastructure, 
platforms, digital financial services, entrepreneurship and digital skills. This development has benefited the Nigerian economy in terms of development in digital infrastructure, digital finances, accessibility and affordability as well as 
creation of a competitive environment for the players, this was not without challenges in the process, such as infrastructural inadequacy, human capital development, lack of defined policy instrument by the government, electricity challenges, 
and lack of affordable data access due to its cost. The paper recommended that more digital infrastructure 
should be provided, government should define the rules of the game and digital skills should be enhancing as well as development in the socioeconomic activities of the citizens.