“Davos” in Lagos

Dotun Adeoye leads the charge to expand AI adoption in Africa.

On February 21, Harvard Business Review council member Dotun Adeoye co-led the charge to expand AI adoption in Nigeria. Adeoye co-convened the InnovateAI2025 Conference, which brought together several industry leaders from private and public sectors, including CEOs, government officials, and country representatives from China and Germany. The audience of over 1,700 people was a peek into opportunities that exist for investors, businesses, and innovators to tap into a burgeoning market of Nigeria’s 213 million people. 

The Opportunity 

At InnovateAI2025, co-led by Adeoye and Ehia Erhaboh, Kuda Independent Board Member, and Chair of Board Audit & Risk Committees, the enthusiasm was palpable, signaling an emerging market ripe for AI investments. With Nigeria being the most populous country on the African continent, Adeoye and Erhaboh’s mission to transform Nigeria into a global AI hub is an unstoppable force to reckon with. 

The proverbial “dark continent,” Africa is often overlooked in global discussions on innovation and technology. With a median age of 17.9 years old, there is an accelerating adoption of AI technologies in Nigeria and across the continent. At InnovateAI2025, Yen Choi, Chief Technology Officer of Netcom Africa, says, “One of the best factors in Nigeria is the youth.” 

The Challenge

Despite the abundance of opportunities, AI adoption doesn’t come without its issues. Unlocking AI's transformative potential requires converging two critical factors: reliable energy infrastructure and effective governance. 

“Unstable electricity supply exacerbates the issue of digital expansion and AI adoption across the country, making it even more difficult for businesses, startups, and individuals to drive innovation,” said Choi. 

Despite boasting an installed power capacity of over 13,000 megawatts, Nigeria’s limited grid access, reaching only 60% of the population, constricts AI development and investments. While Nigeria grapples with these issues, other nations are recognizing the potential and stepping in. Though daunting, China has been seizing these challenges and investment opportunities in AI and energy in Nigeria and across Africa.

Emerging VC Investment Opportunities

While the U.S. has witnessed a surge in AI investment in early 2025 — exceeding $660 billion through initiatives like the Stargate Initiative and significant commitments from Meta and Microsoft — China's strategic investments in AI, energy, and healthcare across Africa — including a $2.5 billion hydroelectric power plant in Nigeria and Huawei's $430 million investment in digital transformation — demonstrate its long-term commitment to emerging as a dominant global player. There is a growing need for U.S. investors to consider not only the size of their investments, but also their strategic leverage in the global competition for AI dominance. 

Leading the Charge

Erhaboh says, “after the InnovateAI 2025 Conference, we will continue leading the charge in localizing and scaling and craft solutions across diverse sectors.” As founders of Al products in Nigeria and the United Kingdom, Adeoye and Erhaboh are championing ethical AI and governance across Europe, North America, and Africa.

Ibe Imo (Journalism ’25) is a Harvard Master of Journalism candidate, storyteller, and technology professional. He is a fitness enthusiast and enjoys outdoor activities, including hiking and trail cycling.