The World Bank has warned that Nigeria and other developing countries risk falling behind in the artificial intelligence revolution unless they urgently adopt and adapt the technology to address local development challenges.
The warning was given on Wednesday by the World Bank Group’s Chief Economist and Senior Vice-President for Development Economics, Indermit Gill, during the 7th Africa Emerging Markets Forum in Abuja.
Gill cautioned policymakers against allowing fears of AI-related job losses in advanced economies to influence decisions in developing countries, arguing that AI presents greater opportunities than risks for countries like Nigeria.
“There is a danger that countries like Nigeria will miss this industrial revolution,” he said, warning that failing to embrace AI could have consequences similar to missing the Industrial Revolution.
He noted that predictive AI could improve productivity in agriculture, healthcare, education and the justice sector, urging governments to invest in digital infrastructure, skills development and policies that encourage innovation.
Gill also said only about 10 per cent of jobs in developing economies were likely to be negatively affected by AI, compared with 30 to 40 per cent in advanced economies.
Also speaking, the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, urged African countries to seize emerging opportunities in artificial intelligence and global trade to drive industrialisation.
She said global trade in goods and services reached a record $34.65tn in 2025 despite geopolitical tensions, stressing that Africa should take advantage of supply chain diversification rather than remain an exporter of raw materials.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, said Africa must move from being a consumer of technology to becoming a creator of AI-driven solutions.
He identified artificial intelligence, trade fragmentation and changing global capital flows as key trends shaping the continent’s future, calling for greater investment in electricity, digital infrastructure, affordable internet access and AI-ready talent.
Cardoso added that recent economic reforms by the Federal Government had strengthened investor confidence and improved Nigeria’s external position.