Nigeria must harness artificial intelligence to drive development- Okonjo-Iweala

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, on Wednesday, said Nigeria stands to gain significantly from the artificial intelligence revolution, but the country must invest in infrastructure, skills, and regulatory frameworks to fully harness its potential.

Speaking at the 10th convocation ceremony of the African University of Science and Technology (AUST) in Abuja on Tuesday, she described AI as a transformative force, comparing its impact to the advent of electricity.

Citing a recent report by PricewaterhouseCoopers, she noted that AI has the potential to boost global economic activity by as much as $15.7 trillion by 2030, with developing nations, including Nigeria, poised to benefit if they act swiftly to capitalise on the opportunities.

“These are four countries that are making strides in technology, and I’m glad Nigeria is fully one of them. If Nigeria could get it right, her economy could reap major rewards.

Stay Ahead with Premium Times

Add as a preferred source on Google

“The Global South, including Nigeria, has much to gain, but countries across the developing world will need to be proactive to seize this potential,” Mrs Okonjo-Iweala said.

“We cannot afford to be left behind.”

The WTO chief highlighted the role of AI in addressing long-standing challenges in key sectors such as education, healthcare, agriculture, and finance.

For example, AI-powered tools could enhance personalised learning outcomes in underserved areas, improve medical diagnostics, and optimise agricultural yields through precision farming.

She also cited a recent report by Access Partnership, that AI could generate $136 billion in productivity gains, cost savings, and increased revenues for four African countries—Nigeria, Kenya, Ghana, and South Africa. Of this, Nigeria is expected to receive 43 per cent of the estimated benefits.

“AI presents Nigeria with a unique opportunity to leapfrog traditional developmental hurdles and create solutions tailored to local challenges,” Mrs Okonjo-Iweala said.

She pointed to innovative Nigerian companies, such as Thrive Agric and Hello Tractor, which are already leveraging AI to improve agricultural productivity and access to finance for smallholder farmers.

However, she warned that without concerted efforts, the country risks deepening existing inequalities. “The digital divide remains a critical barrier, with internet penetration in Nigeria standing at just 43 per cent in March 2024, down from 48 per cent the previous year,” she noted.

Persistent challenges such as unreliable electricity and poor digital infrastructure could further hinder AI adoption, she added.

The economist also highlighted power outages as a critical challenge to AI adoption in Nigeria. She noted that unreliable electricity infrastructure could undermine efforts to leverage AI technologies.

While commending institutions like AUST for exploring renewable energy solutions such as hydro and solar power, she emphasised the need for decentralised energy approaches to ensure reliable power supply.

Call for investment

Mrs Okonjo-Iweala emphasised the need for investments in basic infrastructure, digital literacy, and AI-ready regulatory frameworks.

READ ALSO: Tinubu congratulates Okonjo-Iweala on WTO re-appointment

She commended Nigeria’s National Artificial Intelligence Strategy, which seeks to train young people, support startups, and foster partnerships with technology giants like Google.

“Institutions like the African University of Science and Technology (AUST) are already at the forefront of these efforts, offering programmes in machine learning and AI, and establishing centres for emerging technologies,” she said.

Looking ahead, the DG urged both public and private sectors to work together to maximise AI’s benefits.

“Nigeria must focus on closing the gaps in infrastructure and skills to ensure its population—particularly its young people—can compete in an AI-driven global economy,” she said.