In a report presented at a meeting of African ministers of finance in Morocco, the ECA said the continent’s more than 50 countries face the risk of being left behind in AI-driven economic modernisation due to weak data and energy infrastructure, noting that Africa currently hosts less than one per cent of the world’s data centres.

The commission described the shortfall as both an economic and sovereignty challenge, stressing that the storage of African data outside the continent increases costs, delays transmission, and raises concerns over sensitive information such as medical, financial, and security data.

To address this gap, the ECA urged governments to look beyond public budgets, calling for increased borrowing, improved domestic revenue mobilisation, and the strategic use of pension funds, sovereign wealth funds, and blended finance to fund infrastructure development.

The report noted that public budgets alone will not suffice, adding that “strategic investments in data infrastructure and energy generation can reinforce each other by enabling digital industries while supporting electricity demand and reliability.”

Speaking at the opening of the Committee of Experts segment of the Conference of African Ministers of Finance, Planning and Economic Development in Tangier, Mama Keita, ECA Deputy Executive Secretary for Programme Support, emphasised the urgency of leveraging frontier technologies to drive growth and competitiveness.

According to her, “frontier technologies and innovation are not only useful to unlock Africa’s growth potential and enhance the competitiveness of African economies through productivity growth and diversification,” but are also critical to accelerating structural transformation across the continent.

Keita noted that technologies such as AI, the Internet of Things, and biotechnology can help reallocate resources from low-productivity sectors to higher-value activities, improve living standards, and drive sustainable economic growth if supported by appropriate policies, financing, and data systems.

She, however, warned that Africa’s slow pace in adopting these technologies could widen the gap with more advanced economies, as AI is projected to contribute about 5.6 per cent to GDP across Africa, Oceania, and parts of developing Asia by 2030, lagging behind global peers.

The ECA further highlighted Africa’s comparative advantage in critical minerals, which account for nearly 30 per cent of global reserves essential for clean energy and digital technologies.

It said harnessing these resources through local processing and manufacturing could enable the continent to produce batteries, processors, and other high-value goods rather than exporting raw materials.

The report also underscored the role of digital platforms and mobile money in transforming African economies by lowering transaction costs, improving efficiency, and expanding access to finance, while noting that scaling such gains would require deeper investments in infrastructure and skills.

Keita pointed out that while frontier technologies offer vast opportunities, they also come with risks, including job displacement. Globally, AI and automation are expected to create 170 million jobs and displace 92 million by 2030, resulting in a net gain of 78 million jobs.

Africa, she said, can benefit from this shift only if it aligns its youthful population with the demands of a digital economy through targeted skills development.

“The disruptive effects of new technologies on the African labour market cannot be ignored,” she cautioned, adding that job losses often occur faster than job creation.

Adeoye Abodunrin, an AI and digital transformation coach, had sounded the warning bell earlier, stressing that Africa risks missing out on the full benefits of the AI revolution if governments focus only on technology while ignoring human behaviour and local realities.

He stressed that many AI strategies prioritise infrastructure and tools but overlook trust, culture, and incentives that determine real-world adoption and impact.

He noted that despite high AI adoption, especially in Nigeria, this does not automatically translate into inclusive growth, as poorly designed policies could deepen inequality or limit effectiveness.

Abodunrin therefore urged African leaders to act quickly by integrating behavioural insights into AI policies, investing in skills, and building human-centred systems that align with the continent’s social and economic context.

As countries race to export AI-powered services and talent, experts warn that Nigeria risks missing another technology wave unless it urgently reforms its skills pipeline, infrastructure, and policy framework.

Speaking on AriseTV Global Business Report monitored by Techeconomy, digital transformation coach and futurist David Adeoye Abodunrin, described AI not as an emerging trend, but as a present-day economic force already redefining productivity and wealth creation.

“AI is not the future, it is already here,” Abodunrin said. “What many people call the future is simply the outcome of how we prepare for AI today.”

AI as an Economic Wake-Up Call

According to Abodunrin, the global economy is undergoing a structural shift, from oil-driven growth to algorithm-driven value creation. While advanced economies are rapidly positioning AI as a major export, Nigeria is still grappling with foundational issues, including outdated education systems and limited large-scale skills deployment.

“This is not a fallacy. It is a real wake-up call,” he warned. “AI is moving at geometric speed, while our institutions are still responding at an arithmetic pace.”

He noted that many policymakers continue to underestimate how deeply AI has already penetrated daily life, from email systems and data analytics to media production and financial services.

The Cost of Slow Adoption

Abodunrin argued that the biggest cost of delayed AI adoption will be borne by young Nigerians.

With universities producing thousands of graduates each year, many are being trained for job roles that either no longer exist or will soon become obsolete.

“We are training young people en masse for jobs that the future economy will not need,” he said. “That skills mismatch is dangerous, not just for individuals, but for the entire economy.”

He explained that while job displacement is inevitable, the greater risk lies in failing to prepare workers for new roles that AI will create across sectors such as finance, media, governance, and advanced services.

Beyond the Jobs Panic

Addressing fears around job losses, Abodunrin cautioned against denial while emphasizing opportunity.

“Some jobs will disappear, pretending otherwise is dishonest,” he said. “But there is far more to gain if Nigeria coordinates its response properly.”

He called for urgent curriculum reforms, aggressive reskilling initiatives, and stronger collaboration between government, industry, and educators.

According to him, AI should be seen as an economic tool, one that can democratize opportunity if deployed strategically.

A National Imperative

As the interview concluded, Abodunrin stressed that AI is not just a technology issue but a macroeconomic one requiring national urgency.

“This is something everybody needs to work on, especially at the highest macroeconomic levels,” he said. “If Nigeria gets this right, AI can become one of our most valuable exports. If not, we risk watching the future happen without us.”