The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, has stated that Nigeria can tackle its economic challenges by leveraging artificial intelligence.
Okonjo-Iweala made the remarks at the 10th convocation ceremony of the Africa University of Science and Technology in Abuja on Tuesday.
The occasion also saw the Group Managing Director of United Bank for Africa, Oliver Alawuba, honoured with an honorary doctorate.
UBA further strengthened its support by donating a new AI and emerging technologies centre to the university.
Highlighting the transformative potential of artificial intelligence, Okonjo-Iweala said, “AI promises to be useful in addressing challenges that have hindered Nigeria’s economic progress for decades.”
She added that Nigeria, along with three other African nations, stands to benefit from a projected $136 billion economic boost powered by artificial intelligence.
Okonjo-Iweala explained, “AI has the potential to generate $136 billion in productivity gains, cost savings, time savings, and increased revenues for Nigeria, Kenya, Ghana, and South Africa.”
The WTO chief stated that AI could contribute $136 billion in productivity gains, cost savings, time savings, and increased revenues across Nigeria, Kenya, Ghana, and South Africa, with Nigeria poised to gain 43 per cent of this due to its proactive national AI strategy.
This strategy was developed by the Ministry of Communications, Innovation, and Digital Economy.
Citing WTO research findings, Okonjo-Iweala disclosed that global adoption of AI could increase international trade by up to 14 percentage points by 2040.
However, she warned that uneven adoption might reduce these benefits by half, particularly for developing nations.
She called for international collaboration to ensure equitable access to AI’s advantages.
Addressing Nigeria’s challenges, she highlighted AI’s potential to transform key sectors. In education, AI could customise lessons for students in underserved areas.
Healthcare could see improvements through better diagnostics and patient care in regions lacking medical professionals.
In agriculture, AI tools could enhance yields through precise pest management and soil analysis. Companies such as Crop2Cash and Thrive Agric are already applying AI to support farmers, she pointed out.
She also noted that Nigerian firms like Rensource are leveraging AI to optimise off-grid energy solutions, while AI in the financial sector could expand credit access for small businesses and individuals excluded from formal banking systems.
Despite its promise, Okonjo-Iweala identified several barriers to AI adoption in Nigeria, including unreliable electricity, limited internet access, and inadequate digital infrastructure.
“Power outages remain a significant constraint,” she said, advocating for decentralised renewable energy solutions.
She also raised concerns over reliance on foreign technology providers, which she argued could pose risks related to data privacy and governance.
Strengthening regulatory frameworks and ethical guidelines, she emphasised, is critical to ensuring AI’s benefits are shared equitably.
The WTO DG commended AUST for its dedication to AI education, citing its programmes in machine learning, healthcare, and the creative industries.
She urged partnerships with global technology firms like Google to upskill Nigeria’s workforce and support local startups.
“Nigeria’s young population and growing middle class present a unique opportunity,” she said. “With the right investments in digital infrastructure and skills, Nigeria can position itself as a global player in AI while addressing local challenges.”
Okonjo-Iweala concluded by urging African governments to act swiftly to close the digital divide and harness AI for sustainable development. “We cannot afford to be left behind,” she said.
In a related development, the Director-General of the National Identity Management Commission, Engr Abisoye Coker-Odusote, who was also awarded an honorary doctorate at the event, stressed the importance of a robust identity management system for Nigeria.
“As Nigeria seeks to transition from an oil-dependent economy to a more diversified structure, robust identity management is foundational,” she remarked.
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