By Abbas Nazil
Former African Development Bank (AfDB) President, Dr Akinwumi Adesina, has urged African governments to invest in education, healthcare, technology, skills development and entrepreneurship to transform the continent’s growing youth population into a driver of economic growth and job creation.
Adesina warned that Africa risked wasting its demographic advantage unless young people were equipped with the resources, knowledge and opportunities needed to establish businesses, develop innovative technologies and create employment.
He made the call while delivering a keynote address titled “Africa Next: Building the Demographic Asset Class” at the inaugural Seyi Tinubu Colloquium in Lagos on Monday.
The event brought together political leaders, business executives, policymakers and youth advocates to discuss leadership, enterprise, innovation and the role of young people in shaping Nigeria’s future.
Adesina argued that a growing population alone could not guarantee economic prosperity, stressing that the continent’s future depended on how effectively governments developed the capabilities of their young people and connected them to productive opportunities.
“People are not liabilities. Young people are not liabilities. A young growing population is not a liability,” he said.
According to the former AfDB president, the challenge facing African countries was not the size of their youthful populations but the failure of economic systems and institutions to harness their potential.
He urged governments to focus on what young people could create, the businesses they could establish and the technologies they could develop to address Africa’s economic and social challenges.
Adesina identified quality education as a fundamental requirement for sustainable development, arguing that investment in human capacity was as important as spending on roads, electricity, transport infrastructure and other physical assets.
He said education and intellectual development were essential for building societies capable of innovation, global competitiveness and long-term prosperity.
The development economist also encouraged African youths to embrace artificial intelligence and digital technologies, urging them to develop solutions suited to the continent’s needs rather than remain consumers of innovations created elsewhere.
He explained that young people with relevant skills, access to technology, financing and markets could move beyond job seeking to establish businesses and become employers.
Adesina maintained that unemployment and limited economic opportunities should not automatically be interpreted as a lack of ambition or ability among young Africans.
Instead, he identified inadequate education, limited access to finance, unreliable infrastructure and weak connections between talent and productive opportunities as major obstacles to youth empowerment.
He called for improved financing mechanisms to support young entrepreneurs, particularly those with viable business ideas but without the conventional collateral required by many financial institutions.
According to him, governments and financial institutions must recognise the potential of youth-led enterprises to generate employment, create wealth and strengthen economic growth.
He also emphasised the need for reliable electricity, effective institutions and a supportive business environment to enable young entrepreneurs to transform innovative ideas into sustainable enterprises.
Adesina said digital technologies could help African businesses develop products and services for international markets, expanding opportunities beyond their immediate geographical locations.
However, he stressed that technology adoption should be accompanied by investments in technical education, practical skills and locally relevant innovation, particularly in agriculture, healthcare and other essential sectors.
The former AfDB president further called for greater investment in healthcare, noting that a healthy population was necessary for productive participation in economic activities.
He highlighted youth-focused initiatives in Nigeria, including the Nigerian Education Loan Fund (NELFUND), the Tertiary Education Trust Fund (TETFund) and the Investment in Digital and Creative Enterprises (i-DICE) programme.
He said such initiatives should contribute to a broader development strategy that connects education and skills acquisition with access to capital, technology and employment opportunities.
“The more important questions are: What will they be able to do? What will they create? What businesses will they build?” he asked.
Adesina urged African leaders to make youth empowerment central to economic planning, warning that the continent’s long-term prosperity would depend on its ability to turn the potential of young people into productive economic activity.
Lagos State Governor Babajide Sanwo-Olu also called for greater investment in youth leadership, mentorship, education and innovation, urging established leaders to create opportunities for younger generations to gain experience and contribute to national development.
The discussions at the colloquium highlighted the importance of youth participation in decision-making and stronger collaboration between established leaders and emerging generations.
Adesina maintained that Africa’s demographic advantage could only translate into prosperity if investments in education, healthcare, technology and skills were matched by reliable infrastructure, accessible financing and opportunities for young people to build sustainable businesses and generate employment.
