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Okonjo-Iweala: How Nigeria’s economy can benefit from $136bn AI gains

Okonjo-Iweala: How Nigeria’s economy can benefit from $136bn AI gains

The Director-General of the World Trade Organisation, WTO, Dr Ngozi Okonjo-Iweala, has advocated a decentralised approach to electricity supply in Nigeria.

She spoke on the critical role of Artificial Intelligence in socio-economic development at the 10th convocation ceremony of the African University of Science and Technology, AUST, in Abuja, yesterday.

According to the nation’s former Minister of Finance and Coordinating Minister of the Economy, Nigeria must increase internet access for her citizens to be able to upskill them in AI, a feat that would not be possible without access to constant power supply and that Nigeria could not afford to be left behind in AI.

She said: “Underpinning all that, of course, is access to reliable electricity power supply. Power outages and constant interruptions might prove a more challenging constraint in Nigeria and other African countries to internet access and AI adoption than anything else.

“In other words, we could lay out the smartest approaches to the adoption of AI, like the federal government and AUST are trying to do, but find that efforts undermine our lack of access to the very basics – electricity infrastructure.

“Here, I would propose that we take a more decentralized approach to electricity provision in the country in light of the improved affordability of renewable energy.

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“Each production, consumption and learning unit that is able should try to create its electricity supply through renewables. I’m proud to learn that AUST is embarking on this path, with feasibility studies for hydro and solar sources that can carry the campus. The issue is to mobilize the N200 million needed to make this happen.”

Put AI regulations

Dr. Okonjo-Iweala, one of the university’s founders, noted that it was necessary to put regulations in place to guide the use of AI to ensure data security.

“We also need to bear in mind that relying on AI-driven systems could pose challenges to data sovereignty and security. Many African economies currently depend on foreign technology providers for AI tools and platforms, potentially raising concerns about privacy, governance and the protection of sensitive information.

Okonjo-Iweala: How Nigeria’s economy can benefit from $136bn AI gains

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