Nigeria's Government and Access Bank Push AI Adoption for SMEs to Reach $1 Trillion Economy Goal

The Nigerian federal government and Access Bank Plc announced a joint effort to accelerate artificial intelligence and digital financial solutions among micro, small and medium enterprises (MSMEs). The initiative was launched at the Access Bank MSME Digital Growth Conference in Lagos, where the bank introduced the Access SME Application, a platform offering digital tools and financing to small businesses.

Senior Special Assistant to the President on Entrepreneurship Development, Chalya Shagaya, emphasized that MSMEs account for about 50% of Nigeria’s GDP and employ roughly 84% of the workforce, making them critical to President Bola Tinubu’s target of a $1 trillion economy. She urged entrepreneurs to adopt AI for inventory management, customer analytics and supply‑chain optimisation. The President recently signed an AI policy directing the Ministry of Communications, Innovation and Digital Economy to create capacity‑building hubs to up‑skill business owners. University of Lagos Business School Executive Director Prof. Sunday Adebisi highlighted the sector’s economic importance and called for wider AI integration.