Nigeria Bets on Tech with AI and Blockchain Initiative Which Aims to Boost GDP by 2% Annually

Nigeria is leveraging its burgeoning tech sector to accelerate economic growth. Vice President Kashim Shettima’s latest initiative underscores this shift, with projections indicating that investments in AI and blockchain could significantly boost Nigeria’s GDP by up to 2% annually. This proclamation came during the launch of the AI Expertise Blockchain and Technology Training and Outsourcing Initiative, held at the Yakubu Gowon NYSC Orientation Camp in Dutse.

The initiative, a collaborative effort with tech firm Gluwa, is set to train 1,000 Nigerians annually in cutting-edge fields such as artificial intelligence and blockchain technology. Shettima emphasized that this program is integral to Nigeria's digital transformation strategy and is pivotal for its leadership ambitions in Africa’s tech landscape.

In his address, Shettima called upon Nigerian youths to seize this opportunity, framing it as a critical step towards becoming integral players in the global workforce. “We are not merely catching up with the rest of the world; we are poised to overtake them,” he declared, reflecting his confidence in Nigeria's technological future.

Additionally, the collaboration with Gluwa—an influential player in blockchain technology—aims to elevate financial inclusion through the Central Bank Digital Currency (CBDC), known as eNaira. This partnership with the Central Bank of Nigeria (CBN) seeks to extend financial services to over 200 million Nigerians, leveraging blockchain’s potential to create a more inclusive financial ecosystem.

The Vice President also highlighted Jigawa State’s role as a frontrunner in embracing digital technology, labeling the initiative as a significant milestone in the nation's journey through the Fourth Industrial Revolution. Shettima reiterated the federal government’s commitment to establishing tech hubs nationwide to fuel long-term economic growth.

Further demonstrating the government's dedication to fostering small and medium enterprises (SMEs), Shettima announced a grant of N150,000 for each participating business owner at the Expanded National MSME Clinic. This financial support, mandated by President Bola Tinubu, is part of a broader effort to ease business operations and encourage entrepreneurship across Nigeria.

Governor Umar Namadi of Jigawa State also voiced strong support for the initiative, stressing its importance for local youth and the state’s long-standing relationship with ICT education. He emphasized that Jigawa's history with technology education aligns with the federal government’s Renewed Hope Agenda and the state’s own strategic goals for digital innovation.

The event also saw the inauguration of several key projects, including a solar-powered irrigation farm, a new ICT & Digital Economy Agency, and a series of solar plants aimed at enhancing market infrastructure. These developments reflect a broader strategy to integrate sustainable practices and technological advancements into Nigeria’s economic framework.

As Nigeria stands on the brink of a technological renaissance, the AI Expertise Blockchain and Technology Training and Outsourcing Initiative symbolizes a decisive move towards establishing the country as a global leader in technology and innovation.

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