The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has asserted that the future of Nigerian youth does not lie in advanced countries, but rather in Nigeria itself. He made this statement during a keynote address at a public lecture commemorating the 90th birthday of former head of state Yakubu Gowon.
Adesina highlighted the critical need to address factors contributing to the massive exodus of Nigeria’s young and innovative talents, emphasizing that such outflow threatens the nation’s technological capacity and readiness for the fourth industrial revolution. He stated, “There is no doubt that this will seriously hamper Nigeria’s technological capacity or its readiness in the fourth industrial revolution and its ability to move into higher-end industries such as electronics, semi-conductors, development of appliances and machinery, and of course space exploration.”
To tackle this issue, he outlined essential steps, including establishing a stable macroeconomic environment, improving infrastructure, offering attractive salaries, creating state-of-the-art facilities and technology hubs, and providing support for innovation and entrepreneurship. He stressed the importance of turning Nigeria’s demographic potential into a “talent dividend,” urging the nation to focus on its capabilities both regionally and globally.
“We must become a global Nigeria, brimming with talents, skills, and entrepreneurship capacities that are powered by clear and consistent and sustainable government policies to become globally competitive and to retain our young talents,” he noted. Adesina firmly stated, “I don’t believe that the future of Nigeria’s youth or that of Africa lies in Europe, America, China, or anywhere else.”
In his address, Adesina also announced a significant development for Nigerian youth, revealing that just three days prior, the AfDB’s board of directors approved $100 million for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria. He explained that this new bank will support the business endeavors of Nigerian youth through technical assistance, business incubation, and equity investments.