Nigeria must take a deliberate and clear plan to scale the adoption of Artificial Intelligence (AI) across the country, Mr Wole Adeniyi, CEO of Stanbic IBTC Bank, has told attendees at the InnovateAI Lagos 2025 Conference.
Underscoring the importance of AI, who spoke on the impact of AI in various key sectors such as agriculture, healthcare, education, and urban development while delivering a keynote address on Friday at the InnovateAI Lagos 2025 Conference organised by AI in Nigeria.
“Imagine an agricultural sector where AI-powered drones are used not just to monitor crops, but to predict their yields with pinpoint accuracy, helping farmers plan their harvest more effectively and increase food security,” Adeniyi says.
“These are not merely possibilities, they are opportunities waiting to be seized. However, as we stand on the threshold of this exciting future, we must ask ourselves, how can we scale AI adoption across the nation to unlock these transformative ventures,” according to the Stanbic IBTC Bank CEO.
Stanbic IBTC CEO: AI adoption unlocks transformative ventures
He also explains how AI could transform healthcare in Nigeria. “Imagine a healthcare system where AI plays a pivotal role in diagnostics, using machine learning to assist in identifying diseases early and providing accurate treatment plans, even in rural areas where there is a shortage of doctors and medical professionals.”
While AI holds great promise, Adeniyi notes that widespread adoption, which is the goal, is also a key challenge.
To address this, he advises collaboration across sectors, and the creation of a regulatory framework that nurtures innovation while ensuring inclusive economic growth.
“These are not merely possibilities, they are opportunities waiting to be seized. However, as we stand on the threshold of this exciting future, we must ask ourselves, how can we scale AI adoption across the nation to unlock these transformative ventures,” according to the Stanbic IBTC Bank CEO.
He identifies some of the key barriers to AI adoption, including infrastructure challenges, data quality issues, a skills gap, and the need for clearer regulations.
“Despite progress in digital infrastructure, many parts of Nigeria still struggle with access to reliable electricity, high-speed internet, and advanced computing resources. This hampers the deployment and scaling of AI technologies, especially in rural and underserved areas,” he notes.
Adeniyi also stresses the importance of high-quality data for AI to function effectively. “AI thrives on data. Yet in Nigeria, access to clean, structured, and relevant industrial data remains a significant hurdle. Data produced properly has the power to kill AI applications, but without access to accurate and reliable data, AI systems cannot deliver the results we need,” Adeniyi adds.
To overcome these challenges, Adeniyi highlights that way forward. “No single industry can drive AI adoption alone.”
He proposes several key solutions such as cross-sector collaboration between the private sector, government, academia, and startups, the financial sector has an important role to play in supporting AI-driven innovation, and policymakers to create an enabling environment for AI-driven innovation.
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