By Abigail David

The World Bank has urged developing countries to embrace artificial intelligence (AI), saying the technology offers a major opportunity to improve public services, strengthen governance and boost economic growth. The warning came as the organisation launched its latest World Development Report on Tuesday.

According to the World Bank’s Chief Economist, Indermit Gill, developing economies do not need expensive AI models or massive data centres to benefit from the technology. Instead, they can adapt affordable AI solutions to improve healthcare, education, agriculture and justice systems.

The report says AI could help developing countries recover from years of weak economic growth by expanding access to essential services and improving productivity. It recommends investing in reliable electricity, computing infrastructure and locally relevant data to support AI adoption.

The World Bank also highlighted practical examples, including AI-powered diabetes screening in Bangladesh and advanced weather forecasting tools that help reduce costs for farmers in India. It noted that AI solutions should be designed to suit local needs, including voice-based services for people without smartphones or literacy skills.

However, the report cautioned that AI also presents risks. Without proper safeguards, it could widen inequality, reduce trust in public institutions, increase market concentration and threaten privacy. It also warned that AI could eventually replace some middle-income jobs if governments fail to prepare workers for the changing economy.

By Abigail David

Vice President Kashim Shettima and the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, are among the dignitaries attending the Delta State Economic and Investment Summit in Asaba.

The summit has drawn local and international investors, including delegations from Brazil and China, alongside business leaders, development partners and government officials.

Held under the theme, “Harnessing Our Strengths, Unlocking Our Potentials,” the event is showcasing investment opportunities across key sectors, including the state’s special economic zone, blue economy, transport infrastructure, digital economy, innovation, agriculture, solid minerals, mining and the energy sector.

The Delta State Government, led by Governor Sheriff Oborevwori, said the summit is aimed at strengthening investor confidence, promoting economic growth and fostering strategic partnerships that will support the state’s development agenda.

Pan-African scholar, Professor Patrick Lumumba, is delivering the keynote address, while other government leaders and industry stakeholders are participating in discussions on investment and sustainable development.

According to the state government, Delta’s economy recorded an estimated Gross Domestic Product (GDP) of about ₦16.97 trillion in 2024, with a significant contribution from non-oil sectors, highlighting efforts to diversify the state’s economy.

By Abigail David

About 78 Ministries, Departments and Agencies (MDAs) of the Federal Government have allocated nearly N400 billion in the 2026 budget for community-based projects, including the construction and renovation of mosques, traditional rulers’ palaces, community halls, village market squares and civic centres, according to findings by The Press.

The report indicates that more than half of the allocation is earmarked for projects such as the supply of grains, motorcycles and tricycles, support for community thrift societies, mini-stadia and museums.

Several federal institutions, including the Ministry of Defence, the Nigerian Air Force, the Federal Ministry of Information and National Orientation, the Federal Ministry of Industry, Trade and Investment, the National Building and Road Research Institute and the National Productivity Centre, were listed among agencies with such budget provisions.

Some of the projects identified include the construction of traditional rulers’ palaces, community halls, market stalls, international markets, mosques and abattoirs in different states. The report also highlighted budget items that analysts say appear unrelated to the statutory responsibilities of some of the affected agencies.

Economic and public finance experts have questioned the allocations, arguing that scarce public funds should prioritise sectors such as healthcare, education, security, power and transport infrastructure, which they say could deliver broader economic and social benefits.

A consultant economist and former central banker, Chukwunonso Ihuma, attributed the situation to weak budget oversight, alleging that projects unrelated to agency mandates are often introduced during the appropriation process. He called for stricter budget scrutiny and greater adherence to zero-based budgeting principles.

Similarly, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf, urged more realistic budgeting and stronger fiscal discipline, noting that Nigeria is still implementing parts of the 2025 budget while planning for 2026.

The 2026 Appropriation Act, signed into law by President Bola Tinubu, provides for total spending of N68.32 trillion. The budget assumes N36.87 trillion in revenue, with the remaining funding expected to come largely through borrowing.