The Nigerian government is set to introduce a $1.5 million (₦2.5 billion) fund to bolster the development of Artificial Intelligence (AI) in the country. Scheduled for launch on October 7, 2024, in Abuja, the initiative aims to position Nigeria as a key player in the global AI ecosystem.This new AI fund, supported by Luminate, a global philanthropic organization, was announced by Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani. Speaking about the initiative, Tijani emphasized the collaborative nature of the strategy:“Our approach to AI isn’t confined to local resources—we’re pooling resources together. On October 7 in Abuja, we’ll unveil an additional $1.5 million in support from Luminate.”
Building on Existing Efforts
This announcement follows the recent launch of a ₦100 million (~$61,000) fund in partnership with Google to support 10 Nigerian AI startups. The earlier fund, coordinated by the National Centre for Artificial Intelligence and Robotics (NCAIR), aimed to empower AI-driven innovation and strengthen Nigeria’s tech ecosystem.Despite its intentions, the ₦100 million fund faced criticism for being inadequate. Industry insiders pointed out that such an amount falls short compared to international benchmarks, with some noting that it is insufficient to cover the costs of advanced AI tools like Nvidia chips.
Addressing Criticism and Expanding Support
In response to the backlash, Tijani clarified that the focus should extend beyond the fund’s monetary value, highlighting the government’s broader efforts to secure additional resources and provide comprehensive support to the AI sector.To further enhance Nigeria’s AI landscape, the government is also developing a National Artificial Intelligence Trust in collaboration with the AI Collaborative. This initiative aims to ensure ethical, safe, and inclusive AI development, with a particular focus on incorporating local languages into AI systems.
Encouraging Inclusive AI Development
Earlier this year, the Minister announced the establishment of AI Collective, a community of practice designed to foster collaboration among stakeholders from various sectors, including civil society, academia, and technology. Luminate has pledged to support the organizations involved in managing the AI Collective, enabling them to harness diverse expertise to accelerate AI-driven growth.By launching this new fund and associated initiatives, Nigeria aims to create a robust, inclusive, and sustainable AI ecosystem that drives innovation and economic growth.
