Nigeria could miss out on one of the biggest technological transformations of the century unless it acts quickly to embrace artificial intelligence, according to the World Bank Group’s Chief Economist and Senior Vice-President for Development Economics, Indermit Gill. Speaking at the 7th Africa Emerging Markets Forum in Abuja on Wednesday, Gill urged Nigeria and other developing nations to stop viewing AI through the lens of fear and instead focus on the enormous opportunities it presents for economic growth, innovation, and job creation.
Delivering the keynote address at the forum, which was organised by the Central Bank of Nigeria in partnership with the Emerging Markets Forum and the Centre for the Study of the Economies of Africa, Gill warned that delaying AI adoption could have long-term consequences. Drawing a comparison with the Industrial Revolution, he said countries that fail to embrace this technological shift risk falling behind for generations. He stressed that developing economies should not allow concerns about job losses in wealthier nations to dictate their AI strategies, arguing that the realities in countries like Nigeria are very different.
According to Gill, artificial intelligence is more likely to complement workers in developing economies than replace them. He explained that only about 10 percent of jobs in poorer countries are expected to face disruption from AI, compared with as much as 40 percent in advanced economies. Rather than investing heavily in creating frontier AI models, he encouraged governments to focus on predictive AI, describing it as a practical tool capable of transforming agriculture, healthcare, education, and judicial services. He pointed to successful examples from Kenya, Bangladesh, and India’s Telangana State, where predictive AI has already delivered measurable improvements.
Gill also dismissed fears that small businesses would struggle to adopt AI technologies, noting that World Bank research shows firms of all sizes in developing countries are becoming increasingly capable of integrating AI into their operations. He called on governments to prioritise digital infrastructure, strengthen AI-related skills, promote interoperability between AI systems, and support industry-led standards instead of relying solely on strict regulations. He added that competing directly with AI giants like the United States and China is unrealistic, making collaboration and interoperability a smarter path for countries such as Nigeria.
The message was echoed by other global leaders at the forum. World Trade Organization Director-General Dr. Ngozi Okonjo-Iweala encouraged African nations to embrace AI and take advantage of changing global supply chains to accelerate industrialisation instead of remaining exporters of raw materials. She noted that global goods and services trade reached a record $34.65 trillion in 2025, demonstrating that international trade remains resilient despite geopolitical tensions. Meanwhile, Central Bank of Nigeria Governor Olayemi Cardoso urged Africa to move beyond consuming technology and become a creator of AI-driven solutions. He highlighted Nigeria’s recent economic reforms and stressed that investments in reliable electricity, affordable internet access, digital infrastructure, AI-ready talent, and stronger regional trade will be critical to positioning the country as a competitive player in the global digital economy.
source: punch
