By Chidimma Okwara,
Governance professionals are urging a multi-stakeholder compact to guide the adoption of Artificial Intelligence (AI) in Nigeria. The call was made at the 49th Annual Conference of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) in Lagos.
The event had the theme: “Reimagining Governance: Navigating the Artificial Intelligence Revolution for Excellence”. The professionals emphasized that without a coordinated and collaborative approach, Nigeria risks being left behind in the global AI revolution.
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What is the Multi-Stakeholder Compact?
The multi-stakeholder compact is an agreement involving a wide range of actors to establish principles and minimum standards for AI governance. Dr Femi Oyenuga, Group Executive Director, Chams Holding Company, said that the multi-stakeholder compact must include:
- Government
- The private sector
- Regulatory authorities
- Civil societies
- The academic community
This collaborative framework is intended to ensure that AI is adopted in a manner that delivers organizational and public value while safeguarding integrity, transparency, and fiduciary responsibility.
The governance professionals highlighted the need for a recalibration of roles and rules to adapt to the AI revolution. They pointed out that while AI presents opportunities to raise governance quality, Nigeria’s “uneven institutional capacity” and “legacy regulatory frameworks” increase the vulnerability to harm if AI is deployed without systemic oversight.
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Sen. Udoma Udo Udoma, Founder, Udo Udoma and Belo-Osagie law firm, noted the importance of minimising regulatory risks in governing AI evolution.
To address these challenges, the professionals made several key recommendations:
- Regulators should adopt a risk-based, sector-specific approach instead of blanket bans that could stifle innovation.
2. Corporate boards should take explicit responsibility for AI oversight, including appointing a responsible executive and conducting periodic independent algorithmic audits.
3. The country needs to establish clear accountability frameworks to ensure that responsibilities are well-defined as AI impacts every aspect of business and governance.
4. The professionals also noted that while the United States and China lead the global AI race, Nigeria cannot afford to remain a spectator. The country must proactively harness AI ethically and responsibly to improve its institutions and enhance its global competitiveness.
Ukpanah pledged that the institute, through the conference, would ensure that professionals and policymakers would not merely react to AI but proactively shape its application in ways that would benefit the society.
She further noted that the Nigeria Data Protection Act – General Application and Implementation Directive (GAID) which provided practical guidance on the interpretation and implementation of the Nigeria Data Protection Act (NDPA) 2023 and explained several areas would become fully effective on Sept. 19.
