- Nigeria’s youth should focus on building their future within the country, not abroad.
- Retaining young, innovative talents is crucial for Nigeria’s technological growth.
- Challenges to address:
– Massive exodus of young talents
– Unstable microeconomic environment
– Weak infrastructure
- Solutions proposed:
– $100m Youth Entrepreneurship Investment Bank for Nigeria
– Clear, consistent, and sustainable government policies
- Goal: Make Nigeria globally competitive and retain young talents.
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has said the future of the Nigerian youths does not lie in any advanced country of the world, but in Nigeria.
Adesina stated this on Friday while delivering the keynote address at a public lecture for the 90th birthday of a former head of state Yakubu Gowon.
He said, “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 ends industries such as electronics, semi-conductors, development of appliances and machinery and of course space exploration.
“We must fix the reasons for the massive exodus of Nigeria’s young and innovative talents. This requires a stable microeconomic environment, strong infrastructure, more attractive salaries, state-of-the-art facilities and technology hubs, support for innovation and entrepreneurship, enhanced talents and fiscal incentives.
“We must do this with our eyes fixated on what we can potentially be. Not just in West Africa, not just in Africa but the world. We must decisevely annex and turn Nigeria’s demographic asset into a talent dividends.
“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.
“Don’t get me wrong but I don’t believe that the future of Nigeria’s youth or that of Africa, lies in Europe, America, China or anywhere else.”
The AfDB president also stated that the bank is focused on building a brighter future for the youth in the country.
He said, I am delighted to announce here today that just three days ago, the African Development Bank’s board of directors approved $100m for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria.
“This new bank will support the business of the youths in Nigeria using technical assistance, business incubation, and invest equity, quasi-equity
