E-Business
IDC Predicts Artificial Intelligence to Contribute $19.9 Trillion to the Global Economy through 2030

New research from IDC entitled, The Global Impact of Artificial Intelligence on the Economy and Jobs, predicts that business spending to adopt artificial intelligence (AI), to use AI in existing business operations, and to deliver better products/services to business and consumer customers will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5% of global GDP in 2030.
As a result, AI will affect jobs across every region of the world, impacting industries like contact center operations, translation, accounting, and machinery inspection. Helping to trigger this shift are business leaders who almost unanimously, 98%, view AI as a priority for their organizations.
AI’s Net Positive Global Economic Impact
According to the research, in 2030, every new dollar spent on business-related AI solutions and services will generate $4.60 into the global economy, in terms of indirect and induced effects. This is determined by:
- Increased spending on AI solutions and services driven by accelerated AI adoption
- Economic stimulus among AI adopters, seeing benefits in terms of increased production and new revenue streams
- Impact along the whole AI providers supply chain, increasing revenue for the providers of essential supplies to AI solutions and services providers
“In 2024, AI entered a phase of accelerated development and deployment defined by widespread integration that’s led to a surge in enterprise investments aimed at significantly optimizing operational costs and timelines,” said Lapo Fioretti, Senior Research Analyst, Emerging Technologies and Macroeconomics, IDC. “By automating routine tasks and unlocking new efficiencies, AI will have profound economic consequences, reshaping industries, creating new markets, and altering the competitive landscape.”
Impact on Employment — New Roles Emerge While Others Remain Resilient
The majority of respondents to IDC’s Future of Work Employees Survey expect some (48%) or most (15%) parts of their work to be automated by AI and other tech over the next two years, while only a minority (3%) of employees expect their jobs to be fully automated by AI.
While some work will be negatively impacted by the proliferation of AI, new positions such as AI Ethics Specialists and AI Prompt Engineers will emerge as dedicated roles within global organizations.
The research further indicates that a ‘human touch intensity,’ combined with the level of ‘task repetitiveness’ by which each job is characterized, will inform organizations about roles that are subject to a full AI and automation replacement, versus those where tech’s role will be to augment human capabilities. As such, positions where human social and emotional capabilities are critical, such as nursing and roles where decision-making encompasses ethics and comprehension beyond numbers will remain robust.
“Understandably, we’re all curious to know if AI will replace our jobs,” said Rick Villars, Group Vice President, Worldwide Research, IDC. “As a CEO interviewed by IDC’s Andrea Siviero said, ‘Based on this research it’s clear that we should be asking ourselves how our jobs can be made easier and better by AI. AI will not replace your job but someone who knows how to use AI better than you will.’”
Research Methodology
To estimate the overall economic impact of a technology or a service, IDC developed an economic impact methodology that combines IDC knowledge of the market and internal data with a standard analytical framework, known as an Economic Impact Analysis.
It leverages an input-output (I/O) framework, using the most updated input-output official tables of a specific economy: through I/O tables, specific multipliers are determined and applied to the specific technologies to calculate the related effect.
This IDC Economic Impact Analysis evaluates three types of impact on the economy. In this AI-specific model, these are:
Direct Effect — Includes revenues from artificial intelligence business solutions/services providers directly selling their products to end users.
Indirect Effect — Refers to the economic impact related to the AI supply chain and AI adopters’ benefits. It includes the effects that organizations/tech providers have on the region or country due to their operations related to AI provision.
Backward indirect effects refer to the economic effects on supply chains and industries that provide inputs to AI-driven sectors — in other words, revenues generated in local industries impacted by AI.
Forward indirect effects refer to the effects on AI adopters, excluding consumers, that benefit from the adoption of AI technology, in terms of productivity, revenue growth, and other business parameters.
Induced Effect — These are effects induced by the increase in production. It refers to the impact, due to economic stimulus, from an increase in household income, including existing and new employees linked to the AI value chain across direct and indirect effects layers. People will spend part of their wages in the economy, thus generating additional economic impact.
“The importance of economic impact models is increasing. This type of analysis can be of importance for any vendor who wants to understand the impact of its specific products or services in a short or medium-term period.
“It helps not only businesses but also governments and other stakeholders make informed decisions by evaluating the potential benefits of a technology investment, for example, to the economy,” said Carla La Croce, Research Manager, Data and Analytics, IDC.
The IDC report, The Global Impact of Artificial Intelligence on the Economy and Jobs: AI will Steer 3.5% of GDP in 2030 (Doc #US51057924), assesses the impact of artificial intelligence in terms of economic output and employment.
This assessment leverages IDC’s knowledge of the market and internal data, as well as IDC’s Economic Impact model, which considers the direct, indirect, and induced effects of AI in the economy.
“The study delves into the global impact of AI on the economy, diving deep into specific regions, technology layers, and industries. The goal is to assess AI’s cumulative contributions to the economy with respect to the forecast global GDP in 2030.
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E-Business
Minister Seeks Digital Tech Adoption to Improve Agriculture, Boost Food Security

The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has called for the urgent adoption of digital technology in Nigeria’s agricultural sector to boost food production, curb rising prices, and reduce the country’s dependence on food imports.
Speaking on Thursday in Abeokuta at the Ogun Tech Forward Innovation & Startups Roundtable session, Tijani stressed that Nigeria’s vast arable land and large population could only be effectively harnessed through technological intervention.
He warned that without embracing innovation, traditional farming practices would remain inefficient and expensive, putting food security at risk.
“Technology innovation has already contributed 16 to 18 per cent, but we are aiming for 21 per cent. We need to introduce our technology into agriculture to produce enough food to feed ourselves
“Without technology, countries like Nigeria cannot practise agriculture effectively. We have the vast land, but without technology, we won’t do it well,” the minister said.
Tijani noted that the continuous rise in food prices and the country’s dependence on foreign exchange to import grains that can be grown locally is unsustainable.
He emphasised that leveraging tools such as mobile apps, drones, sensors, and data analytics could transform Nigeria’s farming landscape by enabling precision agriculture and providing real-time insights on soil conditions, pest control, crop health, and intruder detection.
He maintained that the deployment of such technologies would not only enhance farming efficiency and sustainability but also lead to higher yields, lower production costs, and ultimately, more affordable food for Nigerians.
The minister also made a broader case for inclusive innovation across the country, cautioning that Nigeria’s technological future cannot be shaped by a few urban centres alone.
He said the federal government would support emerging tech ecosystems, especially in states like Ogun, to ensure grassroots participation in the digital economy.
Tijani declared, “We can’t leave innovation in the hands of just a few cities. Every part of Nigeria, including towns and rural areas, must be part of the digital journey. The more people we carry along, the stronger we become as a country.”
Tijani, however, revealed that the federal government would back Ogun Tech Hub’s initiative aimed at creating 300 jobs through business process outsourcing as part of a broader vision to transform Nigerian states into ‘talent cities’.
He said, “If we don’t invest in our own people, we’ll keep depending on others for solutions. We must create space for local ideas to grow and become real businesses.”
The minister further called for the integration of emerging technologies such as artificial intelligence, robotics, and drones into key sectors, particularly agriculture, while advocating for the adoption of generative AI in education to support personalised, accessible learning across communities.
In his remarks, the President of the Ogun Tech Community, Adekunle Durosinmi, called on the federal government to provide strategic support to accelerate the growth of the state’s digital ecosystem.
He urged the minister to facilitate the establishment of a functional innovation hub and a permanent secretariat to nurture local startups.
Durosinmi highlighted the critical role Ogun State plays in Nigeria’s economic framework, describing it as a major industrial hub and strategic transport corridor linking Lagos with the rest of the country and West Africa.
He said that with 57 per cent of its 7.1 million projected population in the working-age category, Ogun State possesses immense potential for digital innovation, job creation, and youth development.
“Ogun State is uniquely positioned to become a national leader in technology and entrepreneurship. We have more than 29 tertiary institutions—more than any other state in the country—which makes us a natural home for innovation,” he said.
Since its launch in February 2022 and formal registration with the Corporate Affairs Commission, Durosimi stated that the Ogun Tech Community has organised various initiatives aimed at strengthening digital literacy, cybersecurity awareness, and grassroots tech engagement.
He noted that the community has created 19 active clusters, ranging from developers and mentors to women in tech and agritech specialists, all working together to drive inclusive growth in the tech space.
He reiterated the community’s alignment with the National Digital Economy and E-Governance Bill 2024, stressing that its programmes, governance structure, and advocacy are geared toward promoting digital literacy, supporting startups and SMEs, encouraging e-government services, and fostering responsible digital innovation.
He also stressed that collaboration between government, industry, academia, and the tech ecosystem is key to achieving national development goals.
He expressed appreciation for Tijani’s presence at the roundtable, describing it as a clear indication of the federal government’s commitment to inclusive innovation.
“We want to see such solutions replicated across the country. To accelerate this, we need your support. Ogun urgently needs a fully functioning physical secretariat and, importantly, a dedicated innovation hub to nurture and grow even more startups,” he said.
E-Business
NOTAP, REVASS Ink Agreement to Strengthen Tech Compliance

National Office for Technology Acquisition and Promotion (NOTAP) has signed an agreement with Revass System limited to strengthen technology acquisition compliance through its regulatory framework and boost sustainable capacity in the country.
Speaking during the signing of the agreement in Abuja, Dr. Obiageli Amadiobi, director general and chief executive officer, NOTAP, said that the agreement is to reinforce NOTAP’s core mission of ensuring that technology imported into the Country serves the broader interest particularly in advancing local content development, nurturing indigenous capabilities and ensuring sustainable job creation.
In a statement made available to journalists by Raymond Ogbu, assistant chief information officer, NOTAP, the DG said that the major purpose of the agreement was for Revass Systems limited to design, develop, deploy and manage a secure and efficient digital revenue collection system for NOTAP that will be in compliance with NOTAP Act, Central Bank of Nigeria CBN financial guidelines, NITDA policies, and other applicable Nigerian laws.
The DG said that the app should enhance transparency, accountability, and operational efficiency in revenue collection and management as well as build the capacity of NOTAP staff through structured training and technology transfer initiatives.
Dr. Amadiobi stated that the agreement reflects a strategic approach to safeguarding Nigeria’s economic and technological independence by ensuring that every technology transferred into the country delivers tangible value to Nigerians.
“This partnership represents a pivotal step in ensuring that technologies coming into Nigeria are not only in compliance with Nigerian laws but also aligned with the country’s developmental priorities”.
“The goal of the agency is to ensure that every agreement NOTAP registers, contributes meaningfully to critical skills development, job creation and growth of local enterprises” she said.
The Director General reaffirmed that the milestone is in consonance with the strategic vision of the supervising ministry, the Federal Ministry of Innovation, Science and Technology (FMIST) as well as the Renewed Hope Agenda of President Tinubu to transform the country into a knowledge-based economy driven by local capabilities, productive collaborations, and build globally competitive talents.
“No meaningful developments could happen in critical areas of our economy without the deployment of technology hence the office is making every effort to deploy technology in all its operations to ensure efficient and timely service delivery” she added.
E-Business
NEPC, NBS Sign MoU on Data Capturing

Nigerian Export Promotion Council (NEPC) and Nigerian Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to facilitate data collection from Informal Cross Border Trade.
Nonye Ayeni, executive director/CEO of NEPC, at the signing ceremony held in Abuja, Nigeria’s Capital said the event marked a major turning point in Nigeria’s quest to grow its export trade through the capturing of data in the informal sector.
“Existing trade data primarily capture activities within the formal sector, offering limited visibility into informal export trade transactions, despite their significant volume and economic impact. In 2024, formal export trade records indicate that 7.291 million metric tons of non-oil products valued at US$5.456 billion, were exported from Nigeria. This figure excludes informal export trade data”, she added.
She stated that the Informal cross-border trade is not just a distant, peripheral activity but real trade that fuels livelihoods, strengthens regional supply chains, and contributes significantly to our national and continental economic resilience.
According to her, “Informal export trade representing millions of dollars in goods and services has remained largely outside our official records. Informal export trade data collected by NEPC State offices from major corridors in Kano, Jigawa, Kebbi, Zamfara, Katsina, Sokoto, Lagos, Ogun, and Adamawa reveal transactions valued at over $31.8 million in some months of 2024”.
Ayeni disclosed that reports from the National Onion Producers, Processors and Marketers Association of Nigeria (NOPPMAN), shows that over 1.6 million bags worth of the commodity were traded informally to neighbouring countries such as Ghana, Cote D Ivoire, Benin, Cameroon, Congo, and Niger Republic.
The NEPC boss pointed out that these impressive achievements were not captured in the national export trade statistics thus portending real implications for economic planning for the country.
“It weakens Nigeria’s voice in regional and global trade negotiations, it denies informal traders the recognition and support they need to thrive as well as diminishes Nigeria’s economic potential, especially the vital contributions of women, youth, and MSMEs”.
Ayeni explained that the collaboration between the Council and the NBS was borne out of the desire to correct the imbalance and capture the full spectrum of Nigeria’s export trade activity.
Adeyemi Adeniran, statistician general of the Federation, noted that the meeting of key players from national and sub-national agencies, regional institutions, international development partners, and the organized private sector, reflects the strong spirit of collaboration required to address one of the most pressing challenges in Nigeria’s trade data architecture, capturing and integrating data from informal trade and trade in services into the national framework.
Adeniran was of the view that the data gap severely impedes evidence-based policymaking, limits capacity to engage in fair trade negotiations, and undermines the accuracy of macroeconomic indicators adding that traditional trade measurement systems have long focused on formal, large-scale transactions while overlooking the vibrancy of informal trade routes.
He disclosed that informal trade in Sub-Saharan Africa contributes between 20 to 40 per cent of intra-African trade, with Nigeria accounting for a significant share due to its long and porous borders.
“These are not just gaps in data, rather, they represent gaps in our understanding of economic life and the well-being of millions of Nigerians who engage in these activities daily”, he said
Adeniran said the collaboration with NEPC, presents a timely opportunity to update and harness current trends, identify new opportunities, and design data-informed strategies to support trade formalization, enhance competitiveness, and ultimately foster inclusive economic growth.
“Capturing informal trade data will also help us design smarter border policies, enhance food security, facilitate small and medium enterprise development, and monitor regional integration efforts,” he added.
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