Akinwumi Adesina, President of the African Development Bank (AfDB), has emphasized that the future of Nigerian youths does not lie abroad but within Nigeria itself. Speaking at a public lecture to commemorate the 90th birthday of former military head of state Yakubu Gowon, Adesina addressed the pressing issues of youth unemployment and migration, commonly referred to as the "Japa syndrome."
Adesina highlighted that the increasing trend of skilled young Nigerians seeking opportunities in Europe and the United States stems from widespread poverty and insecurity. He asserted that urgent action is needed to create a stable microeconomic environment that can retain Nigeria's innovative talents. "The future must lie in an Africa that is growing well, with inclusive growth that delivers quality jobs and livelihoods for its youth," he stated.
The AfDB is actively combating these challenges through its "Jobs for Youth in Africa" strategy, aimed at creating 25 million jobs and providing skills for 50 million young people across the continent. Adesina noted that the bank has already created approximately 12 million jobs—3 million directly and 9 million indirectly—through various initiatives, including technical and vocational training programs.
In addition to job creation, Adesina announced the establishment of a $100 million Youth Entrepreneurship Investment Bank in Nigeria. This initiative will provide financial assistance and technical support to young entrepreneurs, fostering innovation and entrepreneurship within the country.
"We must decisively harness Nigeria's demographic asset and turn it into a talent dividend," Adesina urged. He called for consistent government policies that promote infrastructure development, competitive salaries, and state-of-the-art facilities to encourage young people to remain in Nigeria.
Adesina's remarks come at a critical time when nearly half of Nigeria's tech professionals express a desire to leave the country by 2024. He stressed that retaining this talent is essential for Nigeria's competitiveness on the global stage, particularly as it prepares for advancements in technology and innovation.
"I am not against immigration," Adesina clarified. "However, I firmly believe that the future of Nigeria’s youth lies within our borders. We must focus on creating an environment where they can thrive."