Adesina Berates FG’s ‘₦10,000 Youth Empowerment Scheme

Posted by admin Economy, General Politics, Latest Politics, National Politics, Top Stories Friday, April 11th, 2025

The president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has slammed the meagre empowerment schemes given to African youths as he calls for impactful capital investment to unlock the continent’s vast youth potential.

Adesina stated this when he appeared on Channels Television’s Sunrise Daily on Thursday, April 10, describing youths in Africa as a “demographic asset” that may become an uneconomic burden unless countries invest seriously in human capital and entrepreneurship.

“Young people don’t need freebies. They don’t need people saying: ‘I just want to give you an empowerment programme.’ They need capital. They need you to put your money at risk on their behalf,” he said.

Speaking on the increase in youth migration, better known as “Japa” in Nigeria, the former agriculture minister cautioned that the trend poses a serious threat to the economic future of the African continent.

“In the case of young people and the japa syndrome, it’s a big loss for us. I do not believe that the future of our young people lies in Europe, America, Canada, Japan or China; it should lie in Africa growing well, growing robustly,” he stated.

Adesina disclosed that Africa’s 465 million youths aged between 15 and 35 is a key economic driver if harnessed adequately.

“We must recognise that young people are our biggest asset,” he said, as he highlighted the importance of transforming this demographic advantage into sustainable economic growth.

He also berated Africa’s financial infrastructure, as he stated that it has failed to support entrepreneurs in Africa.

“The whole of the banking system is not designed for young people. Why is it suddenly a surprise to us that they are leaving? It’s because you are not putting anything down for them,” he said.