Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has called for increased investment in youth agri-business in Nigeria.
Speaking at the Council of Anglican Provinces of Africa (CAPA) Primates and Wives’ Retreat in Abuja, Adesina pointed out the role of youth in revolutionising Nigeria’s agricultural sector.
In his keynote address on “Food Security and Financial Sustainability in Africa: The Role of the Church,” Adesina highlighted success stories of young entrepreneurs who have made significant strides in agriculture.
Recalling his tenure as Nigeria’s Minister of Agriculture, he mentioned his choice of wearing a bowtie to make the sector more appealing to the youth, with an aim to rebrand agriculture as a viable career path.
Adesina urged the government and leaders of religious institutions to support the AfDB’s Enable Youth in Agriculture programme, a $490 million project aimed at encouraging youth-led agri-businesses across Africa.
He shared that the program has already supported 41,000 businesses and created 63,000 jobs.
Adesina underscored the urgency of tackling youth migration by sharing a deeply personal account of his visit to Goree Island, Senegal, a reminder of the transatlantic slave trade.
He compared the historical forced displacement with the dangerous journeys young Africans undertake today in a quest for a better life abroad.
He further explained that Africa’s future lies within the continent, where equitable growth and quality jobs can be created.
Adesina also called for the establishment of new financial institutions like entrepreneurship investment banks, dedicated to supporting young entrepreneurs. He criticised current financial systems for demanding unrealistic requirements, which hinder young people from securing funding.
Instead, he called for increased investment in youth businesses and ideas to drive sustainable development. “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 said.
Remarking, Most Rev. Jackson Ole Sapit, Vice Chairman of CAPA and Archbishop of Kenya, echoed Adesina’s sentiments. He called for a unified African Church and resource mobilisation, stressing that African solutions should address African problems. He highlighted the potential synergy between AfDB and the church in mobilising resources and communities for holistic transformation.
Sapit advocated for leveraging local Church gatherings as platforms for learning and knowledge sharing to drive meaningful change.