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The artificial intelligence revolution is the new global bug. In this piece, Segun Odunewu writes that Nigeria is destined to take a guide role in this global innovation.
At the end of 2023, mobile money had added an incredible $ 720 billion to the GDP of the countries that adopted it thus transforming ecosystems all over the world in development.
At the center of this transformation is sub-Saharan Africa with Nigeria who plays a fundamental role both as a growth engine and a leader of innovation in the space of mobile financial services.
With over 1.1 billion mobile money councils recorded throughout the region, Africa emerged as the undisputed epicenter of mobile financial inclusion.
Only in 2023, West Africa represented over a third of all the 30 -day and active 30 -day mobile accounts globally, largely led by the rapidly digitization economy of Nigeria.
Nigeria in the lead
Speaking of this revolution, Ola Williams, CEO of Microsoft Nigeria and Ghana, described the success of mobile money in Nigeria as a case of living study on how the adoption of technologies for general use (GPT) as the Internet can arouse a large -scale economic transformation.
According to him, “mobile money was not only comforting; it has remodeled the means of subsistence, enlarged access to financial services and has significantly increased the GDP, now, with the horizon such as the next GPT, Nigeria is again in a critical moment to conduct another wave of innovation”, noted William.
The World Commerce Organization (OMC) estimates that artificial intelligence could contribute up to $ 136 billion of productivity gains, savings on the costs and increases in revenue to sub-Saharan Africa by 2030.
Nigeria will be benefited from 43 % of this value largely due to its proactive artificial intelligence strategy, the growth of the technological ecosystem and the youth digital workforce.
Just like the rise of Mobile Money, the key to the success of the AI ​​in Nigeria would find itself in solving practical and local problems. Mobile money solutions have gained traction by providing simple ways for the Nigerians to send and receive money, open accounts and access loans especially in the communities with limited bank infrastructures.
Between 2011 and 2021, access to financial services increased by almost 16 % nationally, all thanks to the innovations led by mobile devices by companies such as Flutterwave, opay and pay.
“Mobile money has taught us that local relevance is crucial. Artificial intelligence must follow the same path: understanding the challenges of the country, facing real social needs and building inclusive and reliable systems,” Williams observed.
The role of regulation
Regulation was fundamental for the success of mobile money. The central bank of Nigeria (CBN) laid the foundations by establishing a solid regulatory framework that gave the priority to know the customer (Kyc) and the customer’s two diligence (CDD), ensuring that the services were not only accessible but safe. Experts argue that similar care for the IA are needed.
“Building public trust is fundamental,” said dr. Ifeoma Nkem, digital policy consultant. Speaking further, he said: “The strong governance of artificial intelligence anchored in ethics, transparency and local impact are the only way to guide the wide adoption. It is not just how powerful technology is, but if people believe and benefit from it.”
Infrastructure as spine
As with mobile money, the infrastructure would be the backbone of the ambition to the Nigeria. Telecommunications suppliers were decisive in the expansion of mobile coverage to rural areas, allowing financial access for millions. Today, artificial intelligence innovation requires even more aggressive investments in infrastructure, especially in data centers, high -speed connectivity and cloud computing.
“Artificial intelligence skills double every six months. This means that Nigeria has to move quickly, investing in scalable digital infrastructures. The partnerships between the public and private sectors will be crucial”, according to Williams.
Several Nigerian companies have already started this journey. Wallx, for example, offers tools based on artificial intelligence for SMEs to manage international payments and evaluate the dignity of the credit, while Access Holdings uses Microsoft’s co -pilot for Microsoft 365 to simplify data analysis, automate administrative activities and improve customer involvement.
Further intuitions
But the real economic impact comes not only from hub of innovation, but from the wide spread of technology. According to Professor Jeffrey Ding of George Washington University, countries grow faster by not inventing GPTs, but adopting them widely between the sectors.
For Nigeria, this means distributing the IA in agriculture, health, education and logistics not only banking and Fintech. “Artificial intelligence must be democratized. The goal is not only to create smarter companies, but to build a more intelligent nation,” said Williams.
As Nigeria did with mobile money, it now has the opportunity to model the adoption of the AI ​​in a way that elevates local communities, increases economic resilience and positions the country as an exporter of global technology.
With the right regulatory support, targeted investments and a commitment to inclusion, the IA could become the next great history of Nigeria’s economic success.
“From mobile to automatic learning, our journey proves to be one thing. When we get the adoption of technology, Nigeria does not just recover, but we lead,” which Williams concluded.
