ECONOMIC IMPACTS OF AI AND DIGITALIZATION ON NIGERIA'S WORKFORCE AND SOCIETY

The economic life of the average Nigerian is increasingly challenged by persistent hardship. This study examines the widely held concerns that the Digital Economy fosters “internet fraudsters” and that Artificial Intelligence (AI) will displace human labor, thereby worsening Nigeria’s economic difficulties. Four critical issues underpin the research: the skills and technological gap within Nigeria’s Digital Economy, AI-driven job displacement, digital fraud, and biases inherent in AI algorithms and data. Employing a qualitative research approach, the study relies on secondary data analyzed hermeneutically to interpret these concerns. Findings indicate that, contrary to popular assumptions, AI and the Digital Economy need not exacerbate economic challenges. Instead, improved access to high-speed internet, upskilled technological literacy, a vibrant start-up ecosystem, and broader investment and partnership opportunities have the potential to significantly enhance Nigerians’ standard of living. The study concludes that, when strategically and creatively leveraged, AI and the Digital Economy can provide substantial economic benefits. It recommends comprehensive digital education and literacy initiatives for all Nigerians, with a focus on Artificial Intelligence and Digital Economy competencies