Experts Call for Balanced AI Rules to Drive Digital Economy Growth

By Benson Daniel

Technology experts and industry leaders have called for a balanced regulatory framework for artificial intelligence (AI), saying the right policies will be critical to unlocking the full potential of Nigeria’s digital economy while safeguarding public interest.

The experts noted that AI is rapidly transforming industries, including finance, healthcare, education, agriculture and manufacturing, creating new opportunities for innovation, productivity and job creation. They stressed that regulations should encourage responsible adoption without stifling technological advancement.

According to stakeholders, a well-designed AI governance framework should promote innovation, protect consumer data and ensure transparency in the development and deployment of AI-powered solutions. They argued that excessive regulation could discourage investment and slow the pace of digital transformation.

Industry analysts also emphasised the need for collaboration between government, technology companies, academic institutions and civil society to develop policies that reflect global best practices while addressing Nigeria’s unique economic and technological landscape.

They maintained that investment in digital infrastructure, research and workforce development would be essential to positioning Nigeria as a leading technology hub in Africa. Expanding access to digital skills and supporting local AI startups, they said, would strengthen the country’s competitiveness in the global digital economy.

Experts further highlighted the importance of ethical AI development, calling for safeguards against algorithmic bias, misuse of personal data and cybersecurity risks. They added that building public trust in artificial intelligence would be crucial to encouraging wider adoption across both the public and private sectors.

As governments around the world continue to refine their approaches to AI regulation, stakeholders believe Nigeria has an opportunity to establish a policy framework that promotes innovation while ensuring accountability and consumer protection.

They expressed optimism that balanced AI regulations, combined with strategic investment and strong public-private partnerships, would accelerate digital transformation, attract investment and support sustainable economic growth in the years ahead.