The Founder and Chief Executive Officer of Carbon AI, Debola Ibiyode, has said Nigeria has the potential to unlock billions of dollars in economic opportunities and create thousands of jobs by embracing the carbon economy and accelerating the adoption of artificial intelligence (AI).
Speaking on TVC’s programme, Wake Up Nigeria, Ibiyode described the global carbon market as a rapidly expanding economic sector that extends far beyond environmental protection and sustainability efforts.
According to her, carbon-related initiatives offer significant opportunities for industrial growth, job creation, foreign investment and export earnings, particularly for developing economies such as Nigeria.
She noted that resistance to climate-focused policies is often driven by concerns about potential disruptions to traditional industries, especially the fossil fuel sector, rather than opposition to environmental sustainability itself.
“If you’ve been used to making money from fuel, carbon initiatives are going to disrupt that space. But this is a multi-billion-dollar industry. It isn’t just about saying don’t use oil; there is an incredible economic advantage to it,” she said.
Ibiyode identified agriculture as one of the sectors that stands to benefit substantially from the transition to a low-carbon economy.
She explained that agricultural products and waste materials, including livestock byproducts, corn, rice and wheat, can be processed into renewable energy sources such as ethanol, creating new industries and value chains across the country.
According to her, investments in refining and processing facilities would stimulate local economies, generate employment opportunities in rural communities and provide alternative export revenue streams beyond crude oil.
The Carbon AI chief also highlighted emerging climate-focused initiatives at the state level, citing the Lagos State Carbon Credit Registry and growing engagement between governments and energy stakeholders as signs of increasing interest in carbon markets.
She said such initiatives could strengthen Nigeria’s position in global carbon trading and attract climate finance investments.
Ibiyode further explained that Carbon AI was developed to simplify access to sustainability data and carbon market intelligence for businesses, investors and policymakers.
The platform uses artificial intelligence to analyse large volumes of environmental and carbon market data, enabling organisations to make informed decisions and meet sustainability and net-zero commitments.
According to her, the platform serves as a central hub for information on carbon projects, carbon credit pricing and broader environmental trends.
Beyond climate innovation, Ibiyode disclosed that a recent macroeconomic study conducted by her team revealed that effective AI adoption could improve productivity across governance and institutional systems in Nigeria by between 10 and 15 percent.
However, she cautioned organisations against misusing artificial intelligence or viewing it as a direct replacement for human workers.
“Companies are adopting AI wrongly when they think it can replace people. It’s like when Excel came out and people thought it would replace accountants. It didn’t; accountants just became faster and better,” she said.
She stressed that AI should be seen as a tool that enhances human efficiency and productivity rather than eliminating jobs.
Ibiyode also urged Nigeria to move beyond being a consumer of imported technologies and focus on developing indigenous AI solutions capable of addressing local challenges and creating economic value.
Her comments come as the Federal Government intensifies efforts to establish Nigeria as a key player in the global carbon market.
Earlier this year, President Bola Tinubu approved the implementation and operationalisation of Nigeria’s carbon market framework, a policy expected to generate at least $3 billion annually by 2030.
The framework is designed to position Nigeria at the forefront of carbon trading by enabling large-scale emissions allowance transactions across multiple sectors of the economy.
Government officials have stated that the initiative will leverage emissions-reduction opportunities in energy, agriculture, forestry, waste management and industrial sectors, while attracting investments that support sustainable economic growth.
Analysts believe the combined adoption of carbon market initiatives and artificial intelligence could open new pathways for innovation, job creation and economic diversification as Nigeria seeks to reduce its dependence on oil revenues.
