By 
By Nana Theresa Timothy
Nigerians have expressed frustration over the recently launched ₦100 million AI Fund, initiated by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani. Many, particularly within the tech community, believe the amount is insufficient to make any meaningful impact in Nigeria’s burgeoning AI sector.
RELATED: FG and Google launch ₦100m AI Fund to boost Nigerian startups and drive innovation
The Federal Government, through the National Centre for Artificial Intelligence and Robotics (NCAIR), introduced the ₦100 million AI Fund to support Nigerian startups leveraging Artificial Intelligence (AI) to create innovative solutions. Backed by Google, the initiative is aimed at fostering AI-driven entrepreneurship and contributing to economic growth.
However, critics were quick to point out that the fund, amounting to approximately $61,000, pales in comparison to the capital required to drive significant AI innovation. Nigerians have taken to social media to express their disappointment, with many calling the sum “a waste of public time.”
Nneka Busy Body (@Nnekabusybody) sarcastically commented, “You quoted the money in Naira so that it will look big abi? Google gives $350k AI startup credit to founders that apply, but here you are, celebrating less than $65k for an entire country.” Her post has since garnered over 13.7K views.
Similarly, CitizenOlu (@jagabanolu) remarked, “N100m won’t transform the AI sector in Nigeria in 2024. AI needs vast data, powerful hardware, and networked GPUs. This token fund won’t cut it.”
The frustration continued with many noting that AI development is capital-intensive. Virus (@teejayviruz) lamented, “100 million can’t even set up the required server for AI. We’ll revisit this in 6 months, and I’m sure there won’t be a pin to show for it.”
BIG JOE OF LAGOS (@JosephOnuorah) echoed similar concerns, questioning, “Minister, did you mean million dollars or naira? Is this the actual fund or the sitting allowance for the committee managing it?”
While the government insists that the fund is an important step toward nurturing local innovation, the tech community’s reaction suggests otherwise. Dr. Tijani defended the initiative, stating, “The AI Fund is a crucial step in nurturing local innovation that addresses Nigeria’s unique challenges while contributing to national economic growth.”
But the discontent is growing. King Dave (@Okwudilidave) joked, “It seems like you intended to write 100 million dollars, not naira.”
The criticism highlights the gap between government initiatives and the expectations of the tech sector, with many calling for more substantial investments in AI, infrastructure, and essential services like electricity and affordable data.
Key Social Media Reactions:
- Nneka Busy Body (@Nnekabusybody): “Google gives $350k AI credits to founders; you’re attending a ceremony for $61k for an entire country?”
- CitizenOlu (@jagabanolu): “N100m won’t transform the AI sector—AI requires advanced hardware, data, and resources.”
- BIG JOE OF LAGOS (@JosephOnuorah): “Is this the actual fund or the committee’s sitting allowance?”
The government may need to reconsider its approach to funding AI development, as the tech community expects more robust support to drive innovation in the sector.
