World Bank, IMF Raise Alarm Over AI’s Potential Impact on Jobs in Nigeria

The World Bank and the International Monetary Fund (IMF) have warned that artificial intelligence (AI) could worsen employment challenges in Nigeria and other developing countries if governments fail to prepare workers and use the technology to support job creation.

The warning was raised during the IMF-World Bank Annual Meetings in Bangkok, Thailand, where IMF Managing Director Kristalina Georgieva described AI as a “slow-moving tsunami” capable of transforming labour markets worldwide. She said about 40 per cent of jobs globally could be affected by the technology through automation, changes in job responsibilities or a shift to lower-paying roles.

World Bank Group President Ajay Banga stressed that job creation must remain central to economic development, urging countries to deploy AI to improve productivity and expand employment opportunities rather than simply replace workers. He highlighted practical applications in agriculture, education and healthcare that could help communities access services and improve livelihoods.

For Nigeria and other African economies, AI could support farmers with crop-disease identification, connect small businesses to financial services and help frontline health workers identify cases requiring specialist attention. However, limited electricity supply, weak internet connectivity, inadequate digital skills and poor-quality data remain major obstacles to widespread adoption.

The institutions are urging governments and businesses to invest in digital infrastructure, skills development and locally relevant AI solutions. They stress that the technology’s benefits will depend on how effectively countries prepare their workforces and ensure that technological progress translates into productive jobs and broader economic opportunities.