Nigeria risks missing the full economic and developmental benefits of artificial intelligence unless it adopts a comprehensive national policy backed by strong ethical safeguards, the Vice-Chancellor of the University of Ibadan, Prof. Kayode Adebowale, has warned.
Adebowale argued that while AI is rapidly transforming business operations and public institutions across the world, its adoption in Nigeria must be guided by clear regulation, human oversight, and data governance to ensure that technological progress serves the public interest rather than creating new risks.
He made the call at the second annual symposium of the Department of Marketing and Consumer Studies at the University of Ibadan, themed, “Harnessing AI for business survival and expansion in the knowledge economy”.
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Rather than portraying artificial intelligence as a substitute for human capability, the vice-chancellor was of the opinion that the technology should strengthen human intelligence and improve productivity across sectors.
He said AI possesses enormous potential to accelerate innovation, improve efficiency, and contribute to national development. He, however, emphasised that those gains would only be sustainable within an ethical and regulatory framework.
Adebowale warned that the absence of such safeguards could undermine public confidence and expose organisations and citizens to avoidable risks associated with emerging technologies.
According to him, Nigeria should develop a national policy on artificial intelligence alongside a clear framework for data sovereignty to maximise the benefits of AI while protecting national interests.
AI shifting from theory to business reality
The symposium focused largely on the growing role of artificial intelligence in shaping business competitiveness and organisational survival.
Head of the Department of Marketing and Consumer Studies, Dr Samuel Orekoya, said businesses could no longer afford to treat AI as an emerging concept because it had already become part of everyday commercial operations.
He explained that the knowledge economy is increasingly driven by artificial intelligence, which makes it necessary for organisations to move beyond conversations about the technology and begin deploying it to solve practical business problems.
Orekoya argued that the department organised the symposium to bridge the gap between academic research and industry practice by exposing participants to practical AI applications capable of improving customer experience, strengthening supply chains and transforming business models.
He said, “The knowledge economy is here, and at its heart is artificial intelligence.”
He added that businesses must understand how AI can help them survive and grow in an increasingly competitive environment.
Experts urge governance before adoption
Contributors at the symposium agreed that organisations should embrace artificial intelligence, but implementation must be supported by clear governance structures.
Dean of the Faculty of Economics and Management Sciences, Prof. Abiodun Folawewo, observed that AI is already reshaping research, higher education, and business operations, making it important for institutions to understand both its opportunities and its implications.
Chief Executive Officer of BeamX Solutions Ltd., Obinna Nweke, said AI-powered systems could significantly improve organisational decision-making by enabling businesses to analyse data more efficiently and make better strategic choices.
He encouraged organisations to invest in AI solutions capable of improving operational efficiency and long-term competitiveness.
Offering a note of caution, Chief Executive Officer of Cynergy Solutions Ltd., Dr Oladipupo Sennaike, warned that organisations should not adopt artificial intelligence without clear policies governing its use.
He maintained that AI enhances productivity, improves decision-making, and creates new business opportunities, but argued that responsible implementation is equally essential.
Sennaike said, “We have to be ethical about AI.
“Organisations must develop AI policies and strategies because they do not simply adopt AI without a roadmap.”
Describing data as “the new oil”, he added that organisations capable of managing data responsibly and responding quickly to changing consumer expectations would enjoy stronger competitive advantages.
Collaboration beyond the classroom
Representing the Oyo State Commissioner for Local Government and Chieftaincy Matters, the Director of Local Government Affairs, Olanike Akanji, pledged the ministry’s readiness to collaborate with the department in promoting innovation and knowledge-driven development at the grassroots.
Industry participants also urged entrepreneurs, professionals and small and medium-sized enterprises to integrate artificial intelligence into their operations while investing in continuous skills development and innovation to remain competitive in an increasingly digital economy.
The event concluded with the presentation of awards to distinguished scholars in recognition of their contributions to scholarship and national development.
