President of the African Development Bank, Dr Akinwumi Adesina, has advocated for youth investment in Nigeria’s Agri-business.
Adesina stated this while delivering a keynote address at the Council of Anglican Provinces of Africa Primates and Wives’ Retreat in Abuja on Friday.
He spoke on the topic “Food Security and Financial Sustainability in Africa: The Role of the Church”.
Adesina underscored the vital role of youth in revolutionising Nigeria’s agricultural sector and highlighted the success stories of some young entrepreneurs.
The former minister of agriculture recounted his symbolic decision to wear a bowtie during his tenure as Minister of Agriculture to make the sector more appealing to young Nigerians.
According to him, the effort is part of a broader strategy to rebrand agriculture as a viable and attractive career path for the youth.
Adesina urged religious and government leaders to support AfDB’s Enable Youth in Agriculture programme, a $490 million initiative designed to foster youth-led agri-businesses across Africa.
He said the programme had already supported 41,000 businesses and created 63,000 jobs, showcasing significant potential for economic growth.
On addressing the critical issue of youth migration out of Africa, Adesina shared his emotional visit to Goree Island in Senegal, a historic site of the trans-Atlantic slave trade.
He drew parallels between the historical forced migration and the current perilous journeys taken by young Africans in search of better opportunities abroad.
“Sad that Africa’s future lies within the continent, where equitable growth and quality jobs could be created,” he said.
Adesina highlighted the necessity for new financial institutions like entrepreneurship investment banks, dedicated to supporting young entrepreneurs.
He pointed out the inadequacies of current financial systems that demand unrealistic requirements from young people, hindering their ability to secure funding and thrive.
Adesina criticised superficial political empowerment programmes and called for substantial investments in youth businesses and ideas to drive sustainable development.
He said, “The AfDB’s recent approvals, including $16 million for Liberia’s Entrepreneurship Investment Bank and $32 million for Ethiopia, reflect the bank’s commitment to this vision.”
He, therefore, called for a concerted effort to empower Africa’s youth, ensuring that their potential was harnessed to build a prosperous future for the continent.
