Stakeholders Link AI and Circular Economy to Nigeria's Industrial Future
Stakeholders have called on young entrepreneurs and business owners to embrace Artificial Intelligence (AI) and explore opportunities within the circular economy, pointing to the diminishing relevance of traditional skills in a fast-evolving economic and industrial environment. This appeal was made during the Youth Empowerment Programme organised by the Rose of Sharon Foundation, where digital innovation and waste-to-wealth models were highlighted as practical pathways to achieving economic and industrial significance.
Foundation Emphasises Capacity Building
Dr Ndudi Bowei, Country Manager of the Rose of Sharon Foundation, stated that the programme targets self-employed youth entrepreneurs, among others, with a focus on building capacity and providing participants with leverage and a competitive edge in the marketplace. Bowei noted that the theme, 'Harnessing AI-driven Resources and Exploring the Circular Economy for a Sustainable Future', reflects ongoing shifts in global systems, stressing that the socio-economic landscape is becoming heavily dependent on technology and digital systems, particularly AI.
She added that AI has become a crucial tool for growth, applicable to both companies and individuals, and that the initiative aims to help participants harness available tools and resources to enhance their capabilities and expand their businesses.
Warning on Formal Education and AI Adoption
Babajide Arulogun, Digital Transformation Consultant at Agileplus Limited, warned that reliance solely on formal education no longer guarantees economic success. He explained that traditional skills may only sustain individuals at a basic level, while technology enables faster and more efficient service delivery and accelerates industrialisation on a large scale.
Arulogun cautioned that Nigerians risk falling behind in AI adoption, noting that tools are widely accessible online for those who actively engage with digital platforms. He demonstrated how AI tools could be applied in real-life scenarios, such as idea generation, data analysis, and automation, emphasising that understanding how to describe processes allows individuals to build solutions using available technologies.
He also outlined varying levels of economic participation, stressing that while some people acquire knowledge, others apply it to create value, and many remain excluded due to a lack of applicable skills.
Circular Economy as an Economic Opportunity
Olusegun Ogunlana, Managing Director of Green Trash Environmental Sustainability Team, highlighted that Nigeria's waste challenge presents a significant economic opportunity. He noted that the country generates approximately 32 billion tons of waste annually, with only a small portion currently being utilised.
According to Ogunlana, the circular economy shifts focus from disposal to value creation, explaining that in this model, nothing is considered waste, as waste can be transformed into value if properly harnessed. He expressed regret that the sector remains largely untapped, holding billions of dollars in potential yet to be fully utilised.
He explained that Nigeria's numerous economic challenges present opportunities for value creation, as individuals who identify and solve specific problems are better positioned to generate income. However, he lamented that access to finance and training continues to be an obstacle for many aspiring businesses, and he outlined practical entry points into the sector.
Practical Exposure for Participants
Participants were exposed to practical sessions, including demonstrations of AI-powered tools for data gathering, idea development, and problem-solving, as well as discussions on applying both technology and sustainability concepts to real-life situations. These activities aimed to equip them with hands-on skills to navigate the evolving economic landscape effectively.
