AI in Nigeria: The New Oil Rush? Transcend Naija Convener Tonye Calls for Urgent Action

Nigeria is on the brink of another major economic shift, and this time, it’s not oil that’s driving the change—it’s technology. Tonye, the convener of Transcend Naija, has drawn a strong comparison between the rise of Artificial Intelligence (AI) and Nigeria’s oil boom of the 1960s. He believes AI has the power to reshape the country’s economy, industries, and way of life, just like oil once did. However, he warns that Nigeria must act fast or risk being left behind.

Speaking on the rapid development of AI, Tonye highlighted its impact on banking, healthcare, education, and agriculture. Banks are already using automated systems to improve customer service and detect fraud. Farmers are adopting technology to boost crop production. In healthcare, digital tools are making diagnoses more accurate and improving treatment options. “AI is already here, changing the way we live and work,” he said. “The question is, are we ready to take full advantage of it?”

Tonye stressed that while AI presents massive opportunities, it also comes with risks. Without proper planning, it could worsen unemployment, increase inequality, and create new challenges for businesses and workers. He pointed to Nigeria’s oil boom as a lesson in both success and failure. While oil brought wealth, it also led to environmental damage and over-reliance on a single industry. “We can’t afford to repeat the mistakes of the past,” he warned. “This time, we need to plan ahead and make sure this revolution benefits everyone.”

To prepare for the future, Tonye called for urgent action from both the government and private sector. He outlined key steps Nigeria must take, including establishing tech hubs where young innovators can develop solutions, updating school curriculums to include digital skills, creating policies to ensure fair and responsible use of AI, and providing financial support to startups working in this space. He also emphasized the importance of partnerships with global tech firms to bring advanced knowledge and resources into the country.

For Tonye, the time to act is now. “Nigeria has the talent, the creativity, and the energy to lead in this new era,” he said. “But if we don’t invest in the right areas today, we’ll be left behind tomorrow.” As AI continues to transform economies around the world, his message is clear—Nigeria must seize the moment or risk missing out on the next big economic revolution.