Nigeria secures N1.6 billion AI investment from Microsoft

•Tech to add $15 billion to GDP by 2030

Microsoft, yesterday, said it would invest $1 million (N1.6 billion) in Nigeria in the next two years to support artificial intelligence (AI) technology in the country.

Microsoft Managing Director, Nigeria and Ghana, Ola Williams, announced at the AI Nigeria Tour conference and exhibition in Lagos.

The Microsoft AI Tour is a free, in-person one-day event where business leaders, partners, IT professionals and the developer community come together, and learn about the latest advancements in AI technology and how they can be applied to drive innovation and growth in various industries.

Joined by the President of Microsoft Africa, Lilian Bernard, Williams said the support has become necessary to ensure that Nigeria becomes a major hub for AI in Africa.

She said this would help Nigeria to build a sustainable system that would guarantee the effectiveness of the technology sector.

According to her, about one million Nigerians will be trained to become self-sufficient in AI and other emerging technologies.

Williams said rather than taking people’s jobs, AI would help create new jobs globally, saying over 70 million new jobs would be created in Nigeria alone.

Microsoft said Nigeria’s AI market is projected to grow by 27.08 per cent yearly from 2025 to 2030, contributing significantly to the economy.

According to the American firm, with the right skills and access to digital technologies, AI is poised to add an estimated $15 billion to Nigeria’s GDP by 2030.

The firm said in support of Nigeria’s draft National AI Strategy, which aimed to equip 70 per cent of its young workforce with AI-related skills, there is a $1 million skilling investment through Microsoft AI Skilling.

The initiative, in collaboration with the Nigerian Government, will provide in-demand AI skills training for one million Nigerians.

“At Microsoft, we believe that AI has the potential to transform economies and societies. Our commitment to enhancing AI skills in Nigeria is a testament to our dedication to empowering individuals and organisations to achieve more. By investing in digital skills training and collaborating with the Nigerian government, we aim to create a future-ready workforce that can drive innovation and economic growth in the country,” said Williams.

She said this comprehensive strategic initiative to enhance AI skills in Nigeria is a significant investment that showcases Microsoft’s commitment to advancing digital skills and AI capabilities in Nigeria.

The investment will support various skilling programmes, including digital, AI, and cybersecurity skills training for youth and women.

Williams explained that the AI Skilling Initiative investment will expand Microsoft’s skilling programmes to reach one million Nigerians by 2026, including business leaders and senior executives in the public sector.

According to her, the investment aligned with the Nigerian government’s national priorities to boost economic growth, promote social development and inclusion, drive industrialisation, foster technological advancement, and invest in digital and creative enterprises.

She said the investment will further leverage increased access to Microsoft’s skilling resources for Nigerian citizens, developers and business leaders, to expand AI and cloud adoption in the country.

“The launch of this AI skilling initiative for Nigeria is not just about individual advancement, but more importantly about uplifting entire communities. We believe that by democratising access to AI education, we are creating a more equitable digital future for all,” said Williams.

Microsoft began its investment in skills development in Nigeria in 2021 in partnership with the Government of Nigeria to upskill Nigerians via the 3MTT platform.

The firm said by the start of 2024, four million Nigerians had interacted

with the platform. Collaboration between Microsoft and Wootlab Foundation has successfully implemented programmes with a keen focus on AI, preparing participants for success in the digital economy and setting the foundation for future expansions.