By Lucy Adautin
President of the African Development Bank (AfDB) Akinwumi Adesina, has emphasized that the future of Nigerian youth lies within their own country and the continent of Africa, and not in Europe, North America, or elsewhere.
He made this bold affirmation shortly after receiving the 2023 Obafemi Awolowo Prize for Leadership in Lagos, Nigeria on Wednesday, highlighting the importance of retaining talent within Africa for economic growth, while also acknowledging the value of acquiring additional skills globally.
Adesina expressed concern over the migration trend, commonly known as ‘Japa,’ where Nigerian youth seek opportunities abroad, emphasizing the need for economic prosperity and job security within Africa.
“While one might argue that our growing diaspora is good as they send back billions of dollars, higher than the oil revenue that we have, this is not the way to develop sustainably,” Adesina said in a room colourfully graced with past and serving African leaders, including the President of Tanzania, Samia Suluhu Hassan; Ethiopian President, Sahle-Work Zewde; Prime Minister of Togo, Victoire Tomegah Dogbé; President Bola Tinubu of Nigeria; and the President of the Union of the Comoros and the outgoing Chairperson of the African Union (AU), Azali Assoumani.
“Nations that develop do all they can to keep their best human capital at home and additional resource skills elsewhere, with flexible immigration and labour policies. We must make Nigeria a viable place for people to stay and not a place to run away from, the same applies to other countries.
“I refuse to believe that the future of Nigeria’s and Africa’s youths lie in Europe, North America, Asia, or anywhere else. I believe that there future must lie in Africa, growing well, robustly, able to create quality jobs and decent earnings for our young people.
“There is absolutely no reason in the world how we have a demographic asset that then becomes a global negative externality. Let’s take pride in ourselves and let’s make our demographic asset our economic asset globally,” he added.
Adesina, who was Nigeria’s Agriculture Minister from 2011 to 2015 said, “I firmly believe that their future lies right here in Nigeria,” adding that for this reason, the AfDB launched a $614m programme to support Nigeria’s digital and creative enterprise to create 6.3 million jobs and add N6.4bn to the economy.
He added that the pan-African bank will launch a youth-centric bank, the Youths Entrepreneurship Investment Bank, to cater specifically for the needs of young people.
“I always say to myself, how can we have 477 million people under the age of 35 and there are no financial institution? That means we have missing institution and market failure problems. and that is why the African Development Bank decided that we will create what we call Youths Entrepreneurship Investment Bank.”
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In her remarks, Tanzania’s President Samia Suluhu who chaired the occasion, described Adesina as “one of Africa’s finest visionary leaders just like Awolowo”, adding that there could not have been a more deserving person than the AfDB President.
Previous recipients of this prestigious award, which celebrates pan-African leadership, include Nobel Laureate Wole Soyinka, former South African President Thabo Mbeki, and legal luminary Aare Afe Babalola.
Additionally, former Head of State, Gen. Yakubu Gowon (rtd), affirmed Adesina’s worthiness for the honor. Former Presidents Olusegun Obasanjo and Goodluck Jonathan attended the event, while President Tinubu was represented by Vice President Kashim Shettima.
