The Director-General, World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has said Nigeria and three other African countries could share in a projected $136 billion economic boost from artificial intelligence (AI).
She spoke during the 10th convocation ceremony at the Africa University of Science and Technology (AUST) in Abuja, where the Group Managing Director of United Bank for Africa (UBA) Oliver Alawuba received an honorary doctorate. UBA also donated a new AI and emerging technologies center to the university.
Dr. Okonjo-Iweala said: “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”.
Of this total, Nigeria is set to gain 43 per cent, thanks to its proactive national AI strategy developed by the Ministry of Communications, Innovation, and Digital Economy.
Disclosing the findings of WTO research, Dr. Okonjo-Iweala said global AI adoption could boost international trade by up to 14 percentage points by 2040. However, she warned that uneven AI adoption could halve these benefits, particularly for developing countries. She stressed the need for international cooperation to maximize AI’s potential.
She said for Nigeria, AI offers transformative solutions to long-standing challenges. In education, AI can customize lessons for students in underserved areas. In healthcare, it can improve diagnostics and patient care in regions lacking medical professionals. In agriculture, AI can enhance yields through precise pest management and soil analysis. Companies like Crop2Cash and Thrive Agric are already leveraging AI to support farmers, she pointed out.
She added that “in the energy sector, Nigerian firms like Rensource are using AI to optimize off-grid power solutions. Similarly, AI tools in finance can expand credit access for small businesses and individuals excluded from formal banking systems”.
Despite its potential, she 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 decentralized renewable energy solutions.
She also raised concerns about the reliance on foreign technology providers, which poses risks related to data privacy and governance. Strengthening regulatory frameworks and ethical guidelines, she argued, is essential to ensuring AI benefits everyone equitably.
Dr. Okonjo-Iweala praised AUST for its commitment to AI education, citing its programmes in machine learning, healthcare, and creative industries. She also encouraged partnerships with global tech leaders 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”, she said.
The WTO DG 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 warned.
