Business
Adesina urges Nigeria to invest in its youths for guaranteed future
Adesina urges Nigeria to invest in its youths for guaranteed future.
Dr Akinwumi Adesina, the President, African Development Bank (AfDB), has called for more investments in the youth as they are the future of Nigeria.
Adesina said this in his acceptance speech after he was conferred with the award of Extraordinary Personality of the year by Silverbird Media Group.
A statement issued on Monday by AfDB quoted Adesina as saying “the youth will power Nigeria into a future that the rest of the world will envy.”
According to him, Nigeria’s greater future lies in unleashing the extraordinary talents of its youth.
“Give Nigerian youth an opportunity and watch them thrive.
“It was a team of Nigerian youth that shocked the world by winning the gold medal for football at the 1996 Atlanta Olympics in the U.S.
“Think of Tijani Babangida, Garba Lawal, J.J. Okocha, Victor Ikpeba, Emmanuel Amuneke, Abiodun Obafemi, or Nwanko Kanu.
“It was not a fluke, they beat the best teams in the world.
“They beat Mexico in the quarter final 2-0, Brazil in the semi final 4-3 and they clinched gold in the final, beating Argentina 3-2.
“Today, we see Nigeria’s youth taking on the world in the fintech industry, with three companies of young people — Inter Switch, Paypal and Flutterwave each valued at more than one billion dollars.
“Flutterwave alone is now valued at 3 billion dollars,’’ Adesina said.
According to him, the need to unleash the talents in youths prompted the AfDB to provide 170 million dollars to Nigeria in December 2021 for the inauguration of its innovative programme, I-DICE.
“This is designed to further develop digital technology and creative industries of Nigeria.
“That is also why the AfDB is working with African countries, including Nigeria, to develop Youth Entrepreneurship Investment Banks.
“These will be new financial institutions that will be fully dedicated to financing the business ventures of the youth.
“They will help to renew the spirit of our youth and show them that we trust them,’’ he said.
Adesina stressed the need of a renewed spirit of Nigerian youths, adding that Nigeria would ride high if it creates the tide that carries its youths high.
He said that the increased capital of the bank from 93 billion dollars to 208 billion dollars in 2019 would encourage the bank to do more for Africa.
According to Asdesina, in the past five years, AfDB’s work has impacted on the lives of 335 million people.
“About 21 million people with access to electricity, 76 million farmers with access to agricultural technologies for food security and 12 million people with access to finance have been impacted.
“Fifty million people have access to water and sanitation and 69 million people have access to improved transport services,’’ Adesina said.