Technology and finance experts have called on Nigeria and other African nations to strategically invest in Artificial Intelligence (AI) as a tool for driving economic growth and combating climate change.
Speaking at the Sustainable Finance Summit 2.0 in Lagos, themed “Financing Resilience: Digital Innovation and AI for Climate-Smart Communities,” the Country Director of Oracle Nigeria, Mr. Segun Ajayi, said Africa must embrace AI as an opportunity rather than a threat. He highlighted the role of AI in addressing pressing challenges such as floods in Lagos and drought in northern Nigeria.
“So many climatic changes are happening around the world, and Africa is not an exception. At Oracle, beyond technology, we are focused on how AI can help address these challenges and support climate resilience,” Ajayi stated. He urged governments, the private sector, and technology providers to harness AI for positive change, capacity building, and financial innovation.
Professor Kemi Ogunyemi, a member of the management board at Lagos Business School, also stressed AI’s disruptive impact on industries worldwide.
She noted that just as previous industrial revolutions transformed societies, AI offers Nigeria an opportunity to leapfrog its challenges and embrace sustainable finance.
She revealed that the school had launched a white paper, “AI in Nigeria: Opportunities, Challenges and Strategic Pathways,” commissioned by Microsoft and co-authored by PwC Nigeria.
Similarly, Dr. Sylke Jellema, Research Fellow at Lagos Business School, emphasized the need for Africa to seize the moment. “Opportunity is not always fairly distributed, but the disruptive potential of AI represents a chance Africa must not miss,” she said.
Acting Chief Executive of Stanbic IBTC Holdings, Kunle Adedeji, lauded the summit’s success, saying it affirmed Nigeria’s vision of becoming a hub for sustainable finance innovation.
The summit featured wide-ranging discussions on climate change, AI, and the future of green finance, delivering insights on how Africa can position itself for resilience in an increasingly digital world.
The General Manager of Metro FM, Maria Ihuoma who attended the summit agreed that there were gaps to be closed.
She pointed out that Climate action and financing was very crucial to mitigate climate issues and enhance environmental sustainability.
The GM called on stakeholders to support climate financing.
Reporting By Ngozi Kanebi