Unveiling Fourth Industrial Revolution (4IR) and Digital Literacy for Smart Economy in Nigeria

The fourth industrial revolution (4IR) is based on the digital revolution. Nigeria's smart economy rating is now placed 136th internationally, with Lagos, the country's economic engine, having a human Development Index (HDI) of 0.681. It has been shown that the smart economy is essentially the result of the acceleration of the nation's economic intellectualization process. The creation of new technology, products, and services increasingly implies the dissemination of entirely new concepts of economic activity and human life. As a result, global trends have demonstrated that digital literacy is a critical component of a smart economy, allowing citizens, businesses, and governments to effectively use digital technology to generate innovation, productivity, and economic growth. However, this study examines the goals of the smart economy, social economic indicators, digital literacy, and Nigeria's smart economy journey, as well as the use of digital literacy for the smart economy in Nigeria. The paper recommends that the Nigerian government invest in digital infrastructure, increase digital literacy rates, build the startup ecosystem, adopt e-government services, and increase GDP growth from the digital economy.