World Bank warns Nigeria not to miss out on AI opportunities
Artificial intelligence could transform Nigeria and other developing countries, but urgent action is needed to avoid falling behind. Indermit Gill, Chief Economist at the World Bank Group, cautioned that missing the AI revolution could have long-term consequences, similar to missing the Industrial Revolution. He argued that AI is more likely to complement workers in poorer economies than replace them. Ngozi Okonjo-Iweala and Olayemi Cardoso also highlighted the importance of embracing technology and investing in digital infrastructure.
TLDR
- Indermit Gill warned that Nigeria risks missing the AI revolution if it does not adapt quickly.
- He said fears of AI-driven job losses are exaggerated in developing economies, where only about 10% of jobs may be affected.
- Ngozi Okonjo-Iweala noted that global goods and services trade reached a record $34.65tn in 2025, with 72% of goods trade on WTO tariff terms.
- Olayemi Cardoso stressed that Africa must become a producer of AI-driven solutions and invest in digital infrastructure and talent.
- Recent reforms in Nigeria, such as exchange rate unification and tighter monetary policy, have helped restore investor confidence.
