Nigerian Youths Don’t Need Freebies: AfDB President Akinwumi Adesina Explains The Way Forward

Dr. Akinwumi A. Adesina, the President of the African Development Bank (AfDB), has emphasized that Nigerian youths do not require empowerment programs or handouts. Instead, he believes that the key to addressing the challenges faced by young Nigerians, including the rising trend of migration (commonly referred to as “japa”), lies in providing them with the capital needed to grow their businesses and entrepreneurial ideas.

In his recent interview with Channels Television, Adesina explained that the mass migration of young people from Nigeria and other African countries in search of better opportunities abroad is a significant issue. However, the AfDB is taking steps to address this growing problem.

According to Adesina, “We must acknowledge that young people do not need to be handed out freebies. What they truly need is not the so-called empowerment programs, but capital. They have the skills, knowledge, and entrepreneurial mindset to turn their ideas into successful businesses.”

Adesina pointed out that the current financial systems in Africa, especially the banking sector, fail to support young entrepreneurs. “As a banker, when a 21-year-old walks into a bank, the only thing the bank sees is risk. There’s no system that allows young people to access funding, as they lack the required collateral such as property or long-term financial records,” he explained.

He further stressed that Africa has a vast youth population, with over 460 million individuals between the ages of 15 and 35. This demographic is seen as a potential asset for the continent’s economic development. However, to harness this potential, financial institutions must provide better access to capital for young people.

Adesina’s message is clear: rather than offering handouts, Africa’s financial systems must evolve to provide young people with the tools they need to succeed. “Capital is what young entrepreneurs need to grow their businesses. Only then can we transform our youth from a demographic liability into an economic asset.”

Focus Keywords: Nigerian youths, AfDB President, Akinwumi Adesina, youth empowerment, youth migration, African youth, capital for entrepreneurs, youth business growth
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