Authors : Nubi Achebo

Volume/Issue : Volume 10 - 2025, Issue 8 - August

---

Google Scholar : https://tinyurl.com/2bse78bj

Scribd : https://tinyurl.com/5ybbmfxw

DOI : https://doi.org/10.38124/ijisrt/25aug1025

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Note : Google Scholar may take 30 to 40 days to display the article.

---

Abstract : AI has spurred growth and development in virtually all nations of the world including Nigeria. The adoption has resulted in socio-economic transformation in many cases. The study draws from literature, thematic content analysis, and policy evaluation to uncover the role AI plays in agriculture, healthcare, finance, and education. The study also addresses barriers such as infrastructure limitations, ethical concerns, and regulatory challenges while offering practical recommendations for inclusive growth. While the transformation is ongoing, it is already noticeable, and the government reinforces the development by providing a policy framework. This work positions Nigeria as a pivotal case study in harnessing AI for transformation and sustainable development.

Keywords : AI, Artificial Intelligence, Transformation, Socio-Economic Transformation, Nigeria.

References :

1. Abrardi, L., Cambini, C., & Rondi, L. (2019). The Economics of Artificial Intelligence: A Survey. Robert Schuman Centre for Advanced Studies Research Paper No. RSCAS, 58.
2. Adediran, E., Sakpere, W., & Ogunyinka, T. (2024). Artificial Intelligence in Nigeria: Challenges and Opportunities. Available at SSRN 5269530.
3. Akindele, R. (2017). Data protection in Nigeria: Addressing the multifarious challenges of a deficient legal system. Journal of International Technology and Information Management, 26(4), 110-125.
4. Al Onyanabo, T. (2024, September 17). Title: AI and Workforce Displacement: Strategies for Mitigation in Nigeria. https://www.researchgate.net/publication/384079821_Title_AI_and_Workforce_Displacement_Strategies_for_Mitigation_in_Nigeria
5. Amiri, S. M. H., Islam, M. M., & Akter, N. (2025). Rethinking Education Policy: Pathways to Equitable and Future-Ready Learning. Available at SSRN 5194153.
6. August, S. E., & Tsaima, A. (2021). Artificial intelligence and machine learning: an instructor’s exoskeleton in the future of education. In Innovative Learning Environments in STEM Higher Education: Opportunities, Challenges, and Looking Forward (pp. 79-105). Cham: Springer International Publishing.
7. Balogun, I. I. (2025). The impact of AI adoption in protecting patient’s information in the healthcare industry (Doctoral dissertation, Walden University). Walden Dissertations and Doctoral Studies. https://scholarworks.waldenu.edu/dissertations/17555. (n.d.).
8. Ben-Caleb, E., Otekunrin, A. O., Rasak, B., Adewara, S. O., Oladipo, O. A., & Eshua, R. (2019). Cost reduction strategies and the growth of selected manufacturing companies in Nigeria. International Journal of Mechanical Engineering and Technology (IJMET), 10(3), 305-312.
9. Bessen, J. E., Impink, S. M., Reichensperger, L., & Seamans, R. (2023). The business of AI startups. Boston Univ. School of Law, Law and Economics Research Paper, (18-28).
10. Bohdal, O., Hospedales, T., Torr, P. H., & Barez, F. (2023). Fairness in AI and its long-term implications on society. arXiv preprint arXiv:2304.09826.
11. Chelliah, P. R., Jayasankar, V., Ågerstam, M., Sundaravadivazhagan, B., & Cyriac, R. (2023). The power of artificial intelligence for the next-generation oil and gas industry: Envisaging AI-inspired intelligent energy systems and environments. IEEE Press (Wiley).
12. Chen, N., Li, Z., & Tang, B. (2022). Can digital skill protect against job displacement risk caused by artificial intelligence? Empirical evidence from 701 detailed occupations. PLoS One, 17(11), e0277280.
13. Chinnaiyan, B., Balasubaramanian, S., Jeyabalu, M., & Warrier, G. S. (2025). AI Applications–Computer Vision and Natural Language Processing. Model Optimization Methods for Efficient and Edge AI: Federated Learning Architectures, Frameworks and Applications, 25-41.
14. Costa, D. (2025). The future of fintech: The adoption of new technologies in banking and financial services. Technological Forecasting & Social Change, 213, 123891. https://doi.org/10.1016/j.techfore.2025.123891.
15. Danielsson, J., & Uthemann, A. (2023). On the use of artificial intelligence in financial regulations and the impact on financial stability. arXiv preprint arXiv:2310.11293.
16. Dent, K. (2020). Ethical considerations for AI researchers. arXiv preprint arXiv:2006.07558.
17. Diallo, K., Smith, J., Okolo, C. T., Nyamwaya, D., Kgomo, J., & Ngamita, R. (2025). Case studies of AI policy development in Africa. Data & Policy, 7. https://doi.org/10.1017/dap.2024.71
18. El Mimouni, S., & Bouhdadi, M. (Forthcoming 2025). Fairness and bias in AI: A sociotechnical perspective. Journal of Information, Communication and Ethics in Society. https://doi.org/10.1108/jices-12-2024-0182
19. Etori, N., Temesgen, E., & Gini, M. (2023). What we know so far: Artificial intelligence in African healthcare. arXiv preprint arXiv:2305.18302.
20. Georgieff, A., & Hyee, R. (2022). Artificial intelligence and employment: New cross-country evidence. Frontiers in artificial intelligence, 5, 832736.
21. Gill, N., Mathur, A., & Conde, M. V. (2022). A brief overview of AI governance for Responsible Machine Learning Systems. arXiv preprint arXiv:2211.13130.
22. Guan, H., Dong, L., & Zhao, A. (2022). Ethical risk factors and mechanisms in artificial intelligence decision making. Behavioral Sciences, 12(9), 343.
23. Gwagwa, A., Kazim, E., Kachidza, P., Hilliard, A., Siminyu, K., Smith, M., & Shawe-Taylor, J. (2021). Road map for research on responsible artificial intelligence for development (AI4D) in African countries: The case study of agriculture.   Patterns, 2(12).
24. Hanna, M. G., Pantanowitz, L., Dash, R., Harrison, J. H., Deebajah, M., Pantanowitz, J., & Rashidi, H. H. (2025). Future of artificial intelligence (AI)-machine learning (ML) trends in pathology and medicine. Modern Pathology, 100705.
25. Ifeanyi, U. S., Nwokoro, A. N., & Ojiako, E. U. (2025). Artificial intelligence and economic growth in Africa: challenges and opportinities. AJAP-AMAMIHE Journal of Applied Philosophy, 23(3).
26. Iyengar, S. S., Nabavirazavi, S., Hariprasad, Y., HB, P., & Mohan, C. K. (2025). The Evolution of Artificial Intelligence and Machine Learning. In Artificial Intelligence in Practice: Theory and Application for Cyber Security and Forensics (pp. 3-26). Cham: Springer Nature Switzerland.
27. Kou, G., Xu, Y., Peng, Y., & Shen, F. (2025). Artificial intelligence in finance: Applications, challenges, and opportunities. Financial Innovation, 11(1), 25. https://doi.org/10.1186/s40854-024-00668-6.
28. Kouty, M., & Lemma, A. (2025, April). Unlocking growth through the AfCFTA Digital Trade Protocol: A focus on e-commerce in Cameroon (ODI Global Briefing Paper). London: ODI Global. Retrieved from ODI Global website.
29. Lemmens, A., Roos, J. M. T., Gabel, S., Ascarza, E., Bruno, H., Gordon, B. R., Israeli, A., McDonnell Feit, E., Mela, C. F., & Netzer, O. (2025). Personalization and targeting: How to experiment, learn and optimize. International Journal of Research in Marketing. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4878819
30. Lipcsey, R. A. (2023). The transformative effects of AI on international economics. arXiv preprint arXiv:2312.06679.
31. Lu, X., Wijayaratna, K., Huang, Y., & Qiu, A. (2022). AI-enabled opportunities and transformation challenges for SMEs in the post-pandemic era: a review and research agenda. Frontiers in Public Health, 10, 885067.
32. Majeed, A. H., Abbas, A. F., Kadhim, K. G., & Kzar, M. F. (2025). Poverty reduction and the sustainable development goals: a bibliometric study focused on the Global South. Development in Practice, 35(1), 127-151.
33. Mallik, S., & Gangopadhyay, A. (2023). Proactive and reactive engagement of artificial intelligence methods for education: a review. Frontiers in artificial intelligence, 6, 1151391.
34. Manta, O. (2025). Artificial intelligence and FinTech integration: Enhancing efficiency, security, and customer experience in digital banking. Journal of Intelligence, 4(2), 13. https://doi.org/10.3390/jint4020013.
35. Marwala, T. (2015). Impact of Artificial Intelligence on Economic Theory. Prieto-Gutierrez, J. J., Segado-Boj, F., & Da Silva França, F. (2023). Artificial intelligence in social science: A study based on bibliometrics analysis.
36. Murdoch, B. (2021). Privacy and artificial intelligence: challenges for protecting health information in a new era. BMC Medical Ethics, 22(1), 122.
37. Naidoo, S., Bottomley, D., Naidoo, M., Donnelly, D., & Thaldar, D. W. (2022). Artificial intelligence in healthcare: Proposals for policy development in South Africa. South African Journal of Bioethics and Law, 15(1), 11-16.
38. Ogbuju, E., Abdullahi, B. E., Umar, H., Raheem, B. D., Kasum, Y. K., Abiodun, T., & Oladipo, F. (2025). The Role of Artificial Intelligence in Poverty Alleviation during the Fourth Industrial Revolution. In AI for Humanitarianism (pp. 38-50). CRC Press.
39. Ogunbodede, K. F., & Atchrim, I. A. (2025). Artificial Intelligence in Nigeria: A Catalyst for Economic Growth, Innovation, and Technological Advancement. Faculty of Natural and Applied Sciences Journal of Computing and Applications, 2(2), 111-116.
40. Okorie, O. (2018, March 27). “Smart” connected Africa leverages technology to promote growth—but will ICT be Africa’s saving grace in development? Africa at LSE. London School of Economics. Retrieved from Africa at LSE website: eprints.lse.ac.uk.
41. PwC. (2017). Sizing the prize: What’s the real value of AI for your business and how can you capitalize? PricewaterhouseCoopers. https://www.pwc.com/gx/en/issues/analytics/assets/pwc-ai-analysis-sizing-the-prize-report.pdf.
42. Ajah, E. O., & Ononiwu, C. (2021, August 22). Exploring multi-dimensional events characterizing tech start‑up emergence in the Nigerian entrepreneurial ecosystem [Preprint]. arXiv. https://doi.org/10.48550/arXiv.2108.09739
43. Okunlola, O. C., Sani, I. U., & Ayetigbo, O. A. (2025). Socio-economic governance and economic growth in Nigeria. Journal of Business and Socio-economic Development, 5(2), 187-203.
44. Raman, R., Iyer, A., & Nedungadi, P. (2025). Forecasting Artificial General Intelligence for Sustainable Development Goals: A Data-Driven Analysis of Research Trends. Sustainability, 17(16), 7347.
45. Reuben, J. M. (2023). Training and skills alignment for the AI generation. GSJ, 11(6), 1503-1518.
46. Saleem, S., & Mathew, S. M. (2022). Application of artificial intelligence in banking: A study based on SBI-SIA virtual assistant. OSF Preprint. https://doi.org/10.31235/osf.io/gkxh8
47. Okosun, S. E., Ajisola, T. K., Omokhafe, C., Balogun, E., & Ayo‑Odifiri, O. S. (2016). Infrastructure and societal restlessness in a developing country: A case of Nigeria. International Journal of Civil and Structural Engineering Research, 4(2), 43–51. ISSN 2348‑7607. Retrieved from Research Publish Journals
48. Shittu, R. A., Ahmadu, J., Famoti, O., Nzeako, G., Ezechi, O. N., Ewim, C. P. M., & Okuha, H. E. (2024). Policy frameworks for Artificial Intelligence adoption: Strategies for successful implementation in Nigeria. International Journal of Social Science Exceptional Research, 3(6), 105–116. https://doi.org/10.54660/IJSSER.2024.3.6.105 116 ResearchGate.
49. Smith, M., & Neupane, S. (2018). Artificial intelligence and human development: Toward a research agenda (White paper). International Development Research Centre. Retrieved from https://idl-bnc-idrc.dspacedirect.org/items/6ba8a490-db87-4992-8813-9bea0c7e8e28 idrc-crdi.caidrc-crdi.ca+9
50. Spasibukhov, A. (2025). Empirical analysis of an AI-powered chatbot for enhancing university information retrieval (Master’s thesis, Universidade NOVA de Lisboa, Portugal).
51. Stephany, F., & Teutloff, O. (2024). What is the price of a skill? The value of complementarity. Research Policy, 53(1), 104898.
52. Stone, P., Brooks, R., Brynjolfsson, E., Calo, R., Etzioni, O., Hager, G., ... & Teller, A. (2022). Artificial intelligence and life in 2030: the one hundred year study on artificial intelligence. arXiv preprint arXiv:2211.06318.
53. Tang, X., Li, X., & Ma, F. (2022). Internationalizing AI: evolution and impact of distance factors. Scientometrics, 127(1), 181-205.
54. TechCrunch. (2020, October 15). Stripe acquires Nigeria’s Paystack for $200M+ to expand into the African continent. TechCrunch.
55. Thaci, A., Thaci, S., Zylbeari, A. K., & Baftijari, A. Y. (2024). Economic impact of artificial intelligence. KNOWLEDGE-International Journal, 62(1), 21-25.
56. Trivedi, A., Mukherjee, S., Tse, E., Ewing, A., & Lavista Ferres, J. (2019, October 4). Risks of using non‑verified open data: A case study on using machine learning techniques for predicting pregnancy outcomes in India [Preprint]. arXiv. https://arxiv.org/abs/1910.02136
57. Vanguard News. (2025, May 15). How Nigeria’s fintech industry is shaping a new economic reality. Vanguard News. Available at Vanguard News.
58. Walz, A., & Firth-Butterfield, K. (2019). Implementing ethics into artificial intelligence: A contribution, from a legal perspective, to the development of an AI governance regime. Duke L. & Tech. Rev., 18, 176.
59. Wang, X., Chen, M., & Chen, N. (2024). How artificial intelligence affects the labour force employment structure from the perspective of industrial structure optimization. Heliyon, 10(5).
60. Wiriyathammabhum, P., Summers-Stay, D., Fermüller, C., & Aloimonos, Y. (2016). Computer vision and natural language processing: recent approaches in multimedia and robotics. ACM Computing Surveys (CSUR), 49(4), 1-44.
61. Xu, J. (2024). AI in ESG for financial institutions: an industrial survey. arXiv preprint arXiv:2403.05541.
62. Zajko, M. (2021). Conservative AI and social inequality: conceptualizing alternatives to bias through social theory. Ai & Society, 36(3), 1047-1056.