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The Rise of AI and the Looming Crisis of Human Cognitive Extinction

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Written by; Moses O. Igharo  In recent decades, artificial intelligence has evolved from a distant scientific dream to an integral part of everyday life. AI algorithms now drive everything from search engines and personal assistants to medical diagnostics and autonomous vehicles. This rapid rise brings unparalleled convenience and power but also ignites a profound existential question: Is humanity on the path toward cognitive extinction? The Risk of Cognitive Atrophy in the Age of AI The human brain, a marvel of evolution, thrives on challenge, problem-solving, creativity, and learning. Historically, our survival and progress depended on these very faculties. However, as AI increasingly takes over tasks once requiring significant human effort—calculations, data analysis, navigation, even decision-making—there is a real risk that our brains may begin to atrophy from disuse. Think of it like a muscle: if we stop exercising our critical thinking and problem-solving skills because mach...
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NEXIM Bank to increase funding for SMEs, bankable projects

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NEXIM Bank to increase funding for SMEs, bankable projects

By Editor |   07 June 2021   |   3:53 am 

NEXIM

The Managing Director, Nigerian Export-Import Bank (NEXIM), Abubakar Abba Bello, has said that the bank would address the dearth of bankable projects and increase the flow of funds to small and medium enterprises (SMEs).

To achieve this, he stated, NEXIM is partnering with African Export-Import Bank (Afreximbank) to establish a project preparation fund (PPF), through which both institutions have agreed to raise an initial amount of $50 million to support the pre-investment phase in a project preparation circle, adding that it is expected that the fund would address the dearth of bankable projects and increase the flow of funds to SMEs.

He disclosed this at an enlightenment and engagement workshop on export for SMEs in Kaduna on the sidelines of the Kaduna International Trade Fair.

Bello recognised the role of SMEs in cross border trade, and the need to mainstream informal export activities, particularly within the context of the African Continental Free Trade Agreement (AfCFTA), adding that the bank had also established an SME desk to respond specifically to the needs of small businesses.

The bank added that under its trade facilitation role, particularly towards enhancing the competitiveness of Nigerian exporters in the regional market, it has continued to promote the Regional Sealink Project to bridge the maritime infrastructure gap thereby improving trade connectivity for coastal and hinterland trade.

The project is expected to boost access for Nigerian manufactured exports within the regional market and solid minerals export globally.

Bello informed that NEXIM has retooled its operations over the past four years and is now better positioned to serve the people.

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