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It is time to create youth-based wealth for Nigeria — Adesina

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It is time to create youth-based wealth for Nigeria — Adesina

 

Dr Akinwumi Adesina, President, Africa Development Bank (AfDB)

 

By Lucy Ogalue

 

Dr Akinwumi Adesina, the President Africa Development Bank (AfDB) Group, says it is time to create youth-based wealth that will support a more inclusive Nigerian economy.

 

Adesina said this at the Presidential Inauguration of the Investment in Digital and Creative Enterprises (I-DICE) programme in Abuja on Tuesday.

 

According to him, the initiative is timely, strategic, and transformative and will build the ecosystems to support more competitive entrepreneurs powered by digital technologies.

 

“Yes, we gather to inaugurate the initiative, but what we are really inaugurating is more than it. We are inaugurating hope for the youth.

 

“We are inaugurating platforms that will enhance the ability and capacity of Nigeria’s youth to thrive. We are inaugurating the creation of millions of jobs.

 

“We are retooling Nigeria to compete more in an increasingly digital world. We are creating hope for a new Nigeria, driven by the power of the youth,” he said.

 

The AfDB boss said that what Nigeria does with its youthful population would determine its future.

 

“It is time to create youth-based wealth for Nigeria.

 

“Youth-based wealth will rapidly expand the creation of jobs, expand the fiscal space with new sources of taxes, and support a more inclusive Nigerian economy, now and well into the future.’

 

“That is why, shortly after I was elected AfDB president, we inaugurated the Jobs for Youth in Africa strategy.

 

“We expect that the programme will create 25 million new jobs by 2026, focusing on practical and high-impact solutions,” he said.

 

According to Adesina, the future is here, and every aspect of life is digitally transformed. When you think digital, think global.

 

He said based on estimates, the digital global health size of Africa would expand from 217 billion dollars in 2022 to more than one trillion dollars by 2031, an incredible growth.

 

“The size of Africa’s digital economy will rise from 115 billion dollars today to 712 billion dollars by 2050.

 

“And most of this growth is already driven by four countries: Nigeria, South Africa, Kenya, and Egypt.

 

Adesina said that several factors, including the rapid growth in the youth population, drove the expansion of the digital economy.

 

He said these digital trends hold great promise to help create massive jobs.

 

“For example, estimates by Endeavor (2022) show that expanding digital infrastructure by 10 per cent will lead to a 2.5 per cent annual growth in Gross Domestic Product (GDP) in Africa.

 

“Furthermore, expanding access to the internet in Africa from the current 33 per cent to 75 per cent can help create 44 million jobs, including three million jobs in online services by 2025,” he said.

 

The bank’s president said Nigeria was already witnessing the power of digital technologies, tools, and platforms.

 

According to him, Nigeria currently has five out of the 11 digital companies that has reached the status of unicorn with market valuation of one billion dollars.

 

He listed the companies to include Jumia, Interswitch, Opay, Flutterwave and Andela, mainly in fintech.

 

Adesina said Nigeria’s poor and fragmented cargo transport system was gradually transforming, thanks to Kobo 360, a digital logistics platform.

 

He further said in spite its growth, the country was yet to fully tap into and unleash the power of its creative industry.

 

“The I-DICE programme will help to fill some of these critical gaps.

 

“By supporting enterprise and skills development, access to demand-driven digital and creative skills, entrepreneurship skills, ICT enabled infrastructure and expanding access to finance.”

 

Adesina said the AfDB was pleased to partner with the Federal Government of Nigeria on the 618 million dollars I-DICE programme.

 

According to him, AfDB is providing 170 million dollars in financing to the programme.

 

“I am delighted that we have been able to mobilise additional co-financing of 217 million dollars toward the programme.

 

“I wish to thank our partners, the Agence Francaise de Developpement (AFD), which is providing 100 million dollars, and the Islamic Development Bank, which is providing 70 million dollars.

 

“I also thank the Bank of Industry and the Federal Government of Nigeria for providing 45 million dollars in counterpart funding.

 

“Through the independent fund managers for I-DICE, the programme will raise an additional capital of between 131 million dollars and 262 million dollars,” he said.

 

While reiterating some of the. Bank’s initiatives, Adesina said it would soon roll out Youth Entrepreneurship Investment Banks.

 

According to him, the new financial institutions are expected to build robust financial ecosystems around the businesses of young people across Africa.

 

The News Agency of Nigeria(NAN) reports that Vice President Yemi Osinbajo formally inaugurated the programme.

 

The event was attended by stakeholders, representatives of Co-financers, government officials, ministers and youths among other

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Hon. Jafaaru Yakubu Demands Urgent Action on Taraba Road Collapse

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Hon. Jafaaru Yakubu, Chairman of the House Committee on Nigeria-China Friendship, has issued a strong call for immediate government intervention following the collapse of the Bali-Suntai Road in Taraba State. His appeal comes two years after the Namnai Bridge in Gassol Local Government Area collapsed, a tragedy that remains unresolved and continues to haunt residents. Yakubu stressed that the latest disaster is not just an infrastructure failure but a humanitarian crisis that threatens livelihoods, education, and commerce across the region.The Bali-Suntai Road, particularly around the Zagah axis in Bali LGA, was washed away after heavy rains, leaving more than 300 vehicles stranded. Among them were heavy-duty trucks loaded with goods, buses carrying passengers, and smaller vehicles attempting to navigate the route. The collapse has paralyzed transport services, cutting off communities and disrupting trade. For traders, the losses are mounting daily as perishable goods rot in transit, while transport operators face financial ruin from halted operations. Ordinary citizens, meanwhile, are left stranded, unable to access markets, schools, or health facilities.In reinforcing Yakubu’s appeal, Alh. Abdulhamid Kungana, Director General of Campaign for Hon. Jafaaru Yakubu’s 2027 House of Representatives bid, underscored the urgency of the crisis, describing it as a ticking time bomb for Taraba’s economy and social fabric. He noted that the collapse has left communities isolated and vulnerable, with economic activities grinding to a halt. His intervention added political weight to Yakubu’s voice, framing the issue not only as a matter of infrastructure but as a test of governance and leadership. By aligning with Yakubu’s call, Kungana’s campaign leadership amplified the demand for swift and decisive action, signaling that the plight of Taraba’s people must be treated as a national priority.Yakubu emphasized that infrastructure is the backbone of economic and social life, and without functioning roads and bridges, communities are isolated, commerce grinds to a halt, and education suffers. His call is not just a political statement but a demand for urgent action that directly affects thousands of Nigerians. Residents have pleaded for swift repairs, warning that the situation will worsen as the rainy season continues. Traders fear that the collapse will lead to skyrocketing prices of goods and services, as supply chains remain disrupted. The prolonged neglect of the Namnai Bridge and now the Bali-Suntai Road highlights the urgent need for sustainable road maintenance policies in Taraba State.The combined voices of Yakubu and Kungana have transformed the crisis into a rallying point for accountability. Their united stance reflects a broader demand for government responsiveness, reminding leaders that infrastructure failures are not abstract statistics but lived realities for communities. The collapse of two critical transport routes within two years has left Taraba’s people in despair, and unless urgent steps are taken, the crisis will deepen, leaving the state further isolated and economically strangled.

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HONOURABLE JAFAARU YAKUBU COMMISERATES WITH QATAR OVER THE DEATH OF RULER

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Honourable Jafaaru Yakubu, Chairman of the House Committee on Nigeria–China Friendship Relationship Group, has extended his condolences to the Government and people of Qatar following the passing of the father of the incumbent Emir, His Royal Highness Sheikh Tamim ibn Hamad Al Thani.In his condolence message, Honourable Yakubu described the late ruler as a man of wisdom and compassion whose leadership left a lasting imprint on Qatar and the wider global community. He noted that the deceased patriarch of the Al Thani Royal Family was widely respected for his dedication to service, his vision for progress, and his commitment to uplifting humanity.Yakubu emphasized that Qatar has not only been a leader in the Gulf region but has also shown remarkable generosity through humanitarian partnerships that extend far beyond its borders. He highlighted the role of Qatar Charity in his Federal Constituency of Bali/Gassol in Taraba State, where sustained interventions have supported orphans, widows, and vulnerable groups. These programs, he said, have provided scholarships, empowerment opportunities, and social support that have transformed lives and strengthened communities.“The people of Bali/Gassol Federal Constituency will always remember the kindness of Qatar and the impact of its humanitarian activities in our communities,” Honourable Yakubu remarked. He added that the partnership with Qatar Charity has been a source of hope and opportunity, reinforcing the bonds of friendship between Nigeria and Qatar.He prayed for Allah (SWT) to forgive the shortcomings of the departed leader and grant him Jannatul Firdausi, while assuring the Government of Qatar of his constituency’s solidarity during this period of mourning.The condolence message, delivered in Abuja, underscores the enduring ties between Nigeria and Qatar, and reflects the shared vision of both nations in advancing humanitarian causes and uplifting vulnerable populations. Honourable Yakubu reaffirmed his commitment to strengthening these ties, ensuring that the partnership continues to grow and deliver meaningful benefits to his people.

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‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain

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By Emmanuel Kuza

A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.

Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.

According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.

“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.

He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.

“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.

The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.

Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.

“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.

He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.

“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.

Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.

He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu

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