Nigerian Government Fosters AI Technology with N5 Million Scheme

• Nigeria introduced the Nigerian Artificial Intelligence Research Scheme with the intention of fostering Artificial Intelligence (AI).
• Researchers and startups holding an AI-focused project will be eligible to apply for the scheme.
• Deserving applicants will be granted 5 million naira to utilize the opportunities of AI.

The Federal Government of Nigeria has initiated the Nigerian Artificial Intelligence Research Scheme with the intention of fostering Artificial Intelligence (AI) in the nation, providing financial support to AI-focused startups. Nigeria’s initiative in AI enhancement amidst the increasing crypto adoption in the country has created headlines among crypto enthusiasts across the world.

As per an official X (formerly Twitter) post shared by Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, the project aims at awarding N5 million each to 45 researchers and start-ups with the ultimate vision of AI advancement, driving economic progression.

Unveiling the innovative project, Tijani assured that a whopping amount of 5 million naira, equivalent to $6,444, will be granted to deserving individuals and platforms striving to explore and expand the possibilities of AI. The scheme envisions a “sustainable AI ecosystem in Nigeria,” exploring and leveraging its wider opportunities.

Any academic researcher or technology platform holding a research proposal that “aligns with the Federal Ministry of Communications, Innovation, and Digital Economy’s AI priority areas” will be eligible for applying for the scheme. According to the government’s official announcement, the project aims to “foster a vibrant and sustainable AI ecosystem in Nigeria by providing financial support, facilitating knowledge sharing and collaboration among individuals and organizations in the AI industry.”

The expected period of application extends from October 13, 2023, to November 15, 2023. While the candidates are supposed to present a detailed proposal outlining the project’s potential to impact Nigeria, a panel of AI experts will evaluate it. Inviting applications from aspiring candidates for the scheme, Tijani tweeted,

We are inviting researchers and startups working in AI to apply for up to N5m…as we build a strong foundation for our ministry’s efforts to drive innovation, increase productivity in critical sectors and position Nigeria as a global center for AI technology application.

Previously, the government introduced the National Artificial Intelligence Strategy, inviting participation from scientists and experts to collaborate with the project. Nigeria’s enthusiasm for formulating new solutions drawn from AI technology for the upliftment of the economy is evident from the country’s endeavor.