(3 Minutes Read)
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina advocated for youth investment in Nigeria’s Agri-business at the Council of Anglican Provinces of Africa (CAPA) Primates and Wives’ Retreat in Abuja.
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina advocated for youth investment in Nigeria’s Agri-business at the Council of Anglican Provinces of Africa (CAPA) Primates and Wives’ Retreat in Abuja. He underscored the vital role of youth in revolutionizing 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 program, a $490 million initiative designed to foster youth-led agri-businesses across Africa. He said the program had already supported 41,000 businesses and created 63,000 jobs, showcasing the 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.
Read Also:
https://trendsnafrica.com/afdb-bats-for-chinese-investments-in-agribusiness-in-nigeria/
Adesina criticized superficial political empowerment programs and called for substantial investments in youth businesses and ideas to drive sustainable development. He said, The AfDB’s recent approvals, including USD 16 million for Liberia’s Entrepreneurship Investment Bank and USD 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.
