Akinwumi Adesina, the President of the African Development Bank (AfDB), Stated the importance of Nigerian youths staying in Africa for their future prosperity during his address at the 2023 Obafemi Awolowo Prize for Leadership ceremony in Lagos.
Adesina expressed his conviction that the future of Nigeria’s and Africa’s youths lies within the continent, rejecting the notion that their future prospects are better abroad. He voiced concerns over the prevalent trend of Nigerian youths migrating to Europe, North America, and other distant regions in search of economic opportunities and job security, a phenomenon commonly referred to as “Japa.”
Stating the economic potential of retaining skilled human capital within Nigeria, Adesina stressed the significance of creating an environment conducive to sustainable development.
He advocated for policies that encourage both domestic growth and strategic international collaboration, emphasizing the need for flexible immigration and labor policies.
Adesina, a former Nigerian Minister of Agriculture, underscored the importance of investing in Nigeria’s digital and creative sectors to generate quality jobs and boost the economy. He announced the AfDB’s initiative to launch a $614 million program aimed at supporting Nigeria’s digital and creative enterprises, with the goal of creating 6.3 million jobs and adding billions to the economy.
Moreover, Adesina unveiled plans for the establishment of a youth-centric financial institution, the Youths Entrepreneurship Investment Bank, designed to address the financial needs of young entrepreneurs. He highlighted the necessity of fostering an enabling financial ecosystem to harness the demographic dividend represented by Nigeria’s youthful population.
Adesina’s remarks garnered commendation from esteemed African leaders and dignitaries present at the event, including Vice President Kashim Shettima , former Presidents Olusegun Obasanjo and Goodluck Jonathan, as well as notable figures such as Chief Emeka Anyaoku and Gen. Yakubu Gowon.
