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.

President Bola Ahmed Tinubu has invited the People’s Republic of China to partner with Nigeria through the sharing of geophysical data, advanced technology and technical expertise, rather than financial aid, as part of efforts to unlock the country’s vast marine resources and drive sustainable economic growth.

The invitation was conveyed by Nigeria’s Permanent Representative to the United Nations, Ambassador Jimoh Ibrahim, during a keynote address at the United Nations Sustainable Development Workshop on High-quality Development of the Marine Economy in Beijing. The workshop was held at the invitation of the Permanent Mission of China to the United Nations.

Speaking on behalf of President Tinubu, Ambassador Ibrahim commended China for its remarkable leadership in developing the global marine and blue economy, describing the Asian nation as a model of innovation and strategic investment in maritime development.

He reaffirmed Nigeria’s determination to emerge as one of the world’s leading blue economy nations, noting that the Tinubu administration had already laid the foundation for achieving that goal through the establishment of the Federal Ministry of Marine and Blue Economy.

According to Ibrahim, the creation of the ministry underscores the government’s recognition of the oceans as the next frontier for wealth creation, economic diversification and sustainable national development.

He stressed that the future of global prosperity lies beneath the oceans, urging nations to look beyond traditional economic indicators and embrace the immense opportunities presented by the blue economy.

The envoy explained that Nigeria’s priority is not financial assistance but strategic cooperation with China through access to geophysical and nautical data, technology transfer, innovation and investment that would enable the country to fully harness the economic potential of its marine resources.

“The hidden treasure that comes with it (ocean) calls for collective action to shift the narrative from poverty to prosperity,” Ibrahim said, adding that President Tinubu was extending an open invitation to China to deepen collaboration in the blue economy for the benefit of Nigeria, Africa and the wider global community.

He further called for stronger international cooperation to address pressing challenges confronting the marine sector, including climate change, weak cross-border governance and the unsustainable exploitation of ocean resources.

Despite these challenges, Ibrahim maintained that they should not deter countries from tapping into what he described as the “ocean of prosperity,” urging governments, development institutions and private sector stakeholders to work together in unlocking the sector’s enormous economic potential.

The ambassador also urged the international community to move beyond policy discussions and embrace practical solutions by leveraging innovation, artificial intelligence, circular economy models and data-driven approaches to ensure sustainable development of the blue economy.

In addition, he proposed that the International Monetary Fund (IMF) establish a zero-interest financing window for member states seeking to develop their blue economy sectors, arguing that such a facility would provide the financial support needed to accelerate investments in marine infrastructure and unlock new opportunities for economic growth.

Reaffirming Nigeria’s commitment to deeper cooperation with China and other global partners, Ibrahim said President Tinubu remains committed to building a strategic partnership anchored on knowledge sharing, innovation and sustainable development rather than dependence on aid.

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.