Billionaire entrepreneur Elon Musk has predicted that artificial intelligence and humanoid robots will eventually perform most jobs currently done by humans, ushering in an era where governments may have to provide citizens with a universal income.
Speaking during a discussion with XPRIZE founder Peter Diamandis at the Abundance Summit, the Tesla and SpaceX CEO said the rapid advancement of AI and robotics would dramatically increase global productivity, making goods and services more abundant than ever before.
According to Musk, technological progress will reach a point where machines become capable of meeting nearly all human needs, leaving fewer employment opportunities for people.
“AI and robots are going to make so much stuff and provide so many services that they will actually run out of things to do for humans,” he said.
Musk explained that once artificial intelligence begins producing goods and services on a massive scale, economic output could expand far beyond current levels while human demand remains relatively limited.
He argued that such a shift would require a new approach to wealth distribution, suggesting that governments may eventually adopt what he described as a “universal high income” model.
“We’re basically just issuing money to people,” Musk said, adding that future economies could sustain such a system because the supply of goods and services would grow much faster than the money supply.
The tech billionaire maintained that this imbalance would create deflationary pressures, making products and services cheaper over time rather than triggering inflation.
Musk’s latest comments come amid growing global discussions about the impact of artificial intelligence on employment, with experts divided over whether AI will replace existing jobs or create new economic opportunities.
His remarks add to the broader debate over how governments, businesses and workers should prepare for a future increasingly shaped by artificial intelligence and automation.
Consolidated Hallmark Insurance Limited, a subsidiary of Consolidated Hallmark Holdings Plc is proud to announce that its Managing Director/Chief Executive Officer, Mrs. Mary Adeyanju, has been named Insurance Woman of the Year 2026 at the Almond Insurance Industry Awards, held tonight at The Stable.
The award recognises outstanding women whose leadership, innovation and results are reshaping Nigeria’s insurance landscape. Mrs. Adeyanju’s win reflects her bold stewardship of the company, her focus on customer-centred service, and her drive to make insurance more accessible, trusted, and relevant to everyday Nigerians.
Under her leadership, Consolidated Hallmark Insurance has strengthened its market position, embraced digital transformation, and deepened its commitment to claims excellence and stakeholder value.
Accepting the award to a standing ovation, an emotional Mrs. Adeyanju dedicated the honour to the Group Chief Executive Officer, Mr. Eddie Efekoha.
“This award belongs to a man who saw potential in me long before I saw it in myself,” she said. “For over 20 years, Mr. Efekoha has inspired me, guided me and poured so much into my career. Every step I have taken, I have taken on the foundation he built. I am deeply grateful.”
Her tribute underscores a story of mentorship, trust and the power of investing in people, values that sit at the heart of the Consolidated Hallmark culture.
The recognition is a win for the entire organisation and for women in the insurance industry, proof that purposeful leadership and sustained support can open doors for the next generation.
Consolidated Hallmark Insurance Limited remains committed to delivering value, protecting livelihoods and setting new standards of excellence in the industry.
About Us:
Consolidated Hallmark Insurance Limited is one of the leading General Business and Special Risk Insurance underwriters in Nigeria.
Over the years, the company has played a leadership role in the underwriting of key transactions in Aviation, Oil & Gas, Marine Cargo and Hull Business as well as in Motor insurance business.
We have built a reputation on Professionalism, Integrity and Excellent Service Delivery. Leveraging on the capabilities and unique skills of the entire group, we provide premium risk management solutions to our clients. Our commitment to serving you better has seen us make key investments in our People, Technology and Processes.
Baze University, Abuja, has acquired two training aircraft from Austria as it expands its investment in aviation education.
The aircraft arrived at the Nnamdi Azikiwe International Airport, Abuja, on Friday and received a traditional water cannon salute, according to reports by Nigerian media.
The university’s founding Pro-Chancellor, Datti Baba-Ahmed, disclosed the acquisition, saying it would strengthen Nigeria’s aviation training capacity and support the development of skilled professionals.
Baze University acquires two aircraft as Baba-Ahmed expands aviation investment
The Vice-Chancellor, Abiodun Adeniyi, a professor, also described the development as part of a broader entrepreneurial vision to build institutions that contribute to national development.
The acquisition represents another expansion of Baze University, which has invested in higher education and healthcare before venturing into aviation training.
In a reflection shared on Facebook on Saturday, Mr Adeniyi described the development as an example of entrepreneurship driven by vision, patience, hard work and calculated risk-taking.
He said the acquisition illustrated how businesses could grow through personal investment, borrowing, reinvestment and diversification, rather than waiting until they had accumulated all the capital needed for expansion.
“Successful entrepreneurs do not necessarily wait to become debt-free before expanding. They distinguish productive borrowing from reckless indebtedness, deploying resources into assets that create lasting economic value,” he wrote.
Mr Adeniyi said the investment went beyond private wealth creation, arguing that businesses established around education, healthcare and aviation could contribute to national development by creating jobs, building local capacity and developing human capital.
He described such investments as an expression of economic patriotism, where entrepreneurship also responds to national needs.
Expanding into aviation
The two aircraft are expected to support practical flight training at Baze Aviation School, which is being developed in Bwari, Federal Capital Territory.
The school is part of the university’s plans to combine classroom instruction with practical aviation training. Its proposed facilities include a dedicated runway, hangar, terminal building, laboratories and simulation centres.
The Coordinator of the Aviation School, Aliyu Bello, said the aircraft would enable students to gain hands-on experience alongside ground-school instruction.
Mr Baba-Ahmed said the institution planned to train at least 600 professionals in areas including air traffic control, air rescue and firefighting, subject to approval by relevant regulatory authorities.
He also disclosed plans for an aerodrome hub with a runway measuring 1,800 metres by 30 metres, with an additional 15 metres.
The National Universities Commission has approved two undergraduate programmes at the university for the 2026/2027 academic session: Aviation Management under the Faculty of Management and Social Sciences and Aerospace Engineering under the Faculty of Engineering.
Mr Adeniyi said the university would become the first private university in Africa to operate its own aviation school.
Entrepreneurship and national development
Mr Adeniyi’s remarks place the aircraft acquisition within a broader debate about the role of private investment in addressing Nigeria’s development challenges.
Nigeria’s aviation industry requires specialised human resources across several fields, including pilots, aircraft maintenance engineers, air traffic controllers and other technical professionals. Training institutions that combine academic instruction with practical facilities could help expand the pool of skilled workers available to the sector.
However, aviation training is capital-intensive and requires substantial investment in aircraft, infrastructure, maintenance, safety systems and regulatory compliance.
Mr Adeniyi said the development demonstrated the importance of sustaining a vision through years of uncertainty and making investments that could generate long-term economic value.
He traced Mr Baba-Ahmed’s expansion from Baze University, established largely with personal resources and subsequently supported by bank financing, to investments in healthcare through Baze Hospital, higher education through Baba-Ahmed University in Kano and now aviation training.
The professor argued that investments in such sectors could help reduce dependence on foreign expertise while creating opportunities for Nigerians to acquire technical skills and participate in productive enterprises.
He said the benefits of entrepreneurship should not be measured only by wealth accumulated by investors but also by the institutions created, jobs generated and national needs addressed.
“Perhaps the lesson is that great enterprises are built not simply with money, but through vision, sacrifice, perseverance and the capacity to transform ambition into productive institutions,” Mr Adeniyi wrote.
He added that when private enterprise responds to national development priorities, it takes on significance beyond commercial success.
The vice-chancellor congratulated Mr Baba-Ahmed on the acquisition, describing it as another expression of a sustained investment philosophy whose benefits could extend beyond the investor.
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