AI can help Nigeria overcome economic challenges, says Okonjo-Iweala

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Dr. Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), has emphasized the potential of artificial intelligence (AI) in helping Nigeria overcome its economic challenges. She believes that AI could play a crucial role in driving economic growth, improving efficiency across various sectors, and addressing some of the country's most pressing issues, such as unemployment, infrastructure deficits, and inefficiencies in public services.

Okonjo-Iweala pointed out that AI technologies, when properly harnessed, could help Nigeria leapfrog traditional development hurdles. For example, AI could improve agricultural productivity through precision farming, optimize supply chains, enhance healthcare delivery, and support better education systems through personalized learning. Moreover, AI could facilitate the automation of certain industries, boosting productivity and reducing labor costs, which could contribute to overall economic expansion.

The adoption of AI could also foster innovation, creating new job opportunities in tech-driven industries, such as data science, machine learning, and cybersecurity. By providing businesses with tools to better analyze data and predict market trends, AI could support Nigeria's private sector in becoming more competitive on the global stage.

Okonjo-Iweala also stressed that Nigeria's government must invest in the right infrastructure, policy frameworks, and human capital development to fully leverage AI's potential. Building a strong digital ecosystem, alongside ensuring that the population has access to digital education and skills, would be key to maximizing the benefits of AI.

While AI presents significant opportunities, there are challenges to its implementation in Nigeria, such as access to reliable internet, digital literacy, and the initial cost of technology. However, Okonjo-Iweala remains optimistic that with the right strategies and partnerships, AI can significantly contribute to Nigeria's long-term economic development.

Her statement highlights the importance of embracing new technologies as part of the broader strategy to diversify Nigeria's economy, reduce dependence on oil exports, and create a more sustainable and inclusive economic future for the country.

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