Africa has about 2,400 AI organizations, with 40% of them being startups, according to the Centre of Intellectual Property and Information Technology Law. Nigeria ranks as the second country on the continent for AI, just behind South Africa.
A study by Coingecko also shows that Nigeria is among the top 15 countries worldwide shaping the AI and crypto scene in 2024.
While these numbers might differ a bit, one thing’s clear, Nigeria is a major player in Africa’s AI industry. The country has long held the title of Africa’s biggest tech market, driven by the fintech boom. Even though it is now facing some funding challenges, Nigeria remains a magnet for tech investors.
Next year, Dubai is set to channel global investors into Nigeria’s growing startup ecosystem through its renowned GITEX tech expo, the world’s largest tech show.
Talking about the exciting developments, Trixie LohMirmand, the Executive Vice President of the Dubai World Trade Centre (DWTC), stated just how important Nigeria is in the global tech scene, especially when it comes to artificial intelligence (AI).
“The time is now for Nigeria to rise as a global AI powerhouse. You cannot build large language models or advanced algorithms without considering the context of Africa, and Nigeria plays a pivotal role in that landscape,” she said.
LohMirmand stressed that GITEX Nigeria 2025 is going to give startups amazing access to capital and mentorship, letting them see how they stack up against global innovations. “This is super important in the age of AI,” she pointed out, noting that Nigeria’s tech scene and creativity could shake up the global economy.
Talking about the challenges of getting into the Nigerian market, LohMirmand admitted it can look a bit intimidating, but she reassured investors that the rewards can be huge. “It’s for the brave ones, high risk, but with high rewards. In the new digital age of emerging tech, first-mover advantage is crucial,” she said.
Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), also told industry leaders and investors in the global tech scene that Nigeria is a promising market just waiting for value investors to dive in.
Recently, Nigeria has made some major moves in the tech world, like launching its AI strategy and the AI Collective Initiative, which is helping the country position itself as a major player on the global digital stage. LohMirmand pointed out that a lot of global companies are excited to tap into this potential, even though the market is pretty competitive.
With over 220 million people, 60% of whom are youth, Nigeria’s tech ecosystem is teeming with potential, and GITEX Nigeria 2025 is expected to be a pivotal moment in the country’s tech journey.
“Technology in Africa is not a luxury, it’s a necessity. When you need technology to survive, you innovate like nowhere else,” she said.
