The Nigerian government is reportedly set to launch a $1.5 million (₦2.5 billion) fund to promote the development of Artificial Intelligence (AI) in the country.
The announcement was made by Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, during an interview on Arise TV. This initiative, backed by Luminate, a global foundation, will kick off on October 7, 2024, in Abuja to help boost Nigeria’s tech industry.
Community Concerns
This announcement comes shortly after the government, in partnership with Google, introduced a ₦100 million (about $61,000) fund last month aimed at empowering 10 Nigerian startups focused on AI. However, the initial ₦100 million fund faced criticism for being too small compared to what startups typically receive from Google’s initiatives, which can go up to $350,000. Some pointed out that it wouldn’t even cover the cost of one fancy Nvidia chip
Clarifying the Criticism
In response to the backlash, Minister Tijani explained that the criticism stemmed from a misunderstanding. He emphasized that the focus should not only be on the fund’s size but also on the government’s efforts to gather additional resources.
Whats next?
The ministry is also working on establishing a National Artificial Intelligence Trust in collaboration with AI Collaborative. This Trust aims to ensure that AI development in Nigeria is ethical and sustainable while incorporating local languages into the technology.
