By Chukwuma Umeorah
Former President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has urged Nigeria and other African countries to invest more in education, healthcare, skills development and entrepreneurship to turn their growing youth population into an economic asset.
Adesina said Africa’s demographic advantage would not automatically translate into economic prosperity without deliberate investment in human capital, access to finance, reliable infrastructure and opportunities for young people to apply their skills.
Speaking at the maiden edition of the Seyi Tinubu Colloquium in Lagos on Monday, he said Africa’s population, projected to account for about one-quarter of the world’s population by 2050, presented an opportunity that could be lost if governments failed to develop the capabilities of young people.
“What Africa does for its young people today will determine Africa’s role and position in the world of tomorrow,” he said.
Adesina, who delivered the keynote address titled Africa Next: Building the Demographic Asset Class, said governments must move beyond viewing population growth as a measure of potential and focus on developing the skills, knowledge and productivity needed to drive economic growth.
He argued that poor education, inadequate healthcare, unemployment, skills mismatches, unreliable electricity and limited access to finance were systemic failures that prevented young people from contributing fully to the economy. “These are not failures of the young person. These are system-created liabilities,” he said, adding that the responsibility rested with governments and institutions to develop, protect and utilise the potential of young people.
He further said education should be treated as an investment in national productive capacity rather than merely social expenditure, noting that investment in schools, universities, laboratories and technical institutions would yield greater returns when linked to technology, capital and markets. He also called for greater investment in nutrition, healthcare and social protection to ensure that young people could develop and apply their capabilities.
He stressed that Nigeria needed a financial system willing to support young people with promising business ideas instead of relying mainly on conventional empowerment programmes. “Young entrepreneurs required access to capital, customers and markets to turn their skills into businesses, create jobs and generate wealth.” Adesina cited initiatives to support digital and creative enterprises as examples of efforts to connect young people’s capabilities with economic opportunities. He said the African Development Bank had provided $178 million towards a programme designed to support technology and creative start-ups, digital businesses and small and medium-sized enterprises.
He also highlighted the need for Africa to develop its own technological capacity, particularly in artificial intelligence (AI), rather than remain a consumer of technologies developed elsewhere. According to him, young Africans should participate in developing AI applications suited to the continent’s needs in agriculture, education, healthcare, financial services and other sectors.
Adesina also urged African countries to focus on developing a productive workforce capable of meeting the needs of manufacturing, agriculture and technology, rather than relying on population size or the export of labour as their main advantages. He said the future of Africa’s youth should be built around opportunities within the continent, supported by economies capable of creating decent jobs.
In his address, Seyi Tinubu called on young Nigerians to participate more actively in governance and decisions affecting the country’s future. He said young people must prepare themselves for leadership by understanding national issues, asking difficult questions, offering practical solutions and accepting responsibility for implementing them.
“A seat in the room carries obligation. Read the documents. Know the history. Understand the choices. Ask the difficult questions,” Tinubu said. He argued that young Nigerians should not leave decisions about the country’s future entirely to older generations, stressing that policies and institutions being shaped today would determine the opportunities available to them and their children.
Tinubu also defended the direction of the Federal Government’s economic reforms, including fuel subsidy removal, foreign exchange reforms and changes to the tax system, acknowledging that the adjustments had imposed immediate hardship on households. He however insisted that the reforms were intended to address structural challenges and create conditions for future opportunities, while urging young Nigerians to take an active role in shaping the country’s development.
Lagos State Governor Babajide Sanwo-Olu, in his remarks, called on leaders to create opportunities for younger people through mentorship, employment and greater access to positions of responsibility.
Sanwo-Olu said experienced leaders should help prepare the next generation “by giving young people opportunities to develop their abilities and contribute to public life.” He cited his own experience of receiving an opportunity to serve in government early in his career, saying mentorship and access to responsibility could help prepare young people for leadership.
He urged employers and established leaders to give young people opportunities even when they lacked extensive experience, provided they received the necessary guidance and supervision.
Sanwo-Olu said leadership should also be measured by the ability to prepare successors who could sustain and build on existing achievements.
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