Nigeria Could Lose $1.2 Trillion in AI Opportunities, NIGCOMSAT Warns

Nigerian Communications Satellite Limited (NIGCOMSAT), the country’s satellite operator, has raised concerns that Nigeria may forfeit a $1.2 trillion share of the global Artificial Intelligence (AI) economy by 2030.

This warning was issued by NIGCOMSAT’s Managing Director, Nkechi Egerton-Idehen, in a statement released on Friday.

Her comments followed her participation in the 12th Regular Meeting of the National Council for Communications, Innovation, and Digital Economy, which took place in Makurdi, Benue State.

Nkechi Egerton-Idehen emphasized that the Nigerian government must act quickly to harness the opportunities within the AI economy. She pointed out that by 2030, AI is expected to contribute $15.7 trillion to the global economy.

“Artificial intelligence is reshaping industries, economies, and societies worldwide, with projections that it will contribute up to $15.7 trillion to the global economy by 2030. Africa stands to gain $1.2tn of this if the right policies and innovations are in place,” Egerton-Idehen said, citing a PricewaterhouseCoopers report.

“AI offers us the chance to not only flourish economically but also to achieve food security. However, we must ask ourselves if we are prepared to manage this technology responsibly,” she added.