AfDB President urges investment in youth-led enterprises to tackle migration crisis and unlock Africa’s economic future
ABUJA — The President of the African Development Bank Group, Dr. Akinwumi Adesina, has issued a powerful call to action, declaring that Nigerian youths do not need handouts or superficial empowerment schemes, but rather access to capital to unleash their entrepreneurial potential and curb the mass migration trend known locally as “japa.”
Speaking in a televised interview shared by Channels Television, Adesina emphasized that the ongoing exodus of young Nigerians—and their peers across Africa—is not simply a crisis, but a symptom of decades of underinvestment in the continent’s most promising demographic: its youth.
“Youth don’t need that kind of empowerment—freebies or little things you are doing for them. They need capital. They need you to put your money at risk on their behalf,” Adesina said.
His comments come amid rising concern over the “japa” phenomenon—an informal term used in Nigeria to describe the wave of young professionals, graduates, and skilled workers leaving the country in pursuit of better opportunities abroad.
A Wake-Up Call for African Leaders
Adesina, a globally respected development economist and former Nigerian Minister of Agriculture, argued that current economic systems and financial institutions are structurally ill-equipped to serve the needs of Africa’s youth.
“You go around Africa, and everybody says, ‘we have a youth empowerment program.’ But what exactly does that mean?” he asked. “They have skills, they have knowledge, they have entrepreneurship capacity. They want to turn their ideas into great businesses.”
He stressed that while many governments announce programs labeled as “youth empowerment,” they often lack the depth or financial backing to make any tangible impact. Instead, what young people truly require, he said, is access to structured, long-term capital that enables them to grow businesses, employ others, and contribute meaningfully to the economy.
Structural Barriers in the Banking Sector
Adesina did not spare commercial banks, criticizing traditional financial institutions for creating barriers that alienate young entrepreneurs.
“The commercial banking system has failed young people,” he said. “A 21-year-old walks into a bank, and all they see is risk. Then they ask, ‘do you have a house? Do you have land? Do you have 40 years of tax records?’ But the youth are just starting out!”
This, he argued, discourages innovation and prevents millions of young Africans from accessing the capital needed to develop their ideas into profitable ventures. According to him, Africa’s demographic advantage—home to over 460 million people between the ages of 15 and 35—risks becoming a liability if not properly harnessed.
“Our demographic asset must become an economic asset,” he declared. “But to do that, we have to put capital behind young people.”
AfDB’s Response to the Japa Crisis
Adesina revealed that the African Development Bank is not standing idle. Under his leadership, the institution has been working to create innovative financing models tailored specifically for African youth.
This includes initiatives such as the Youth Entrepreneurship and Innovation Trust Fund, which aims to provide concessional loans, equity investments, and technical support to young entrepreneurs across the continent.
“We are doing something about it,” Adesina affirmed. “We have to. This is a big loss for us—not just Nigeria, but many African countries.”
According to the AfDB, youth unemployment and underemployment remain among the biggest drivers of migration. In Nigeria, where unemployment among young people hovers above 40%, economic frustration has fueled a rise in emigration—especially among tech professionals, healthcare workers, and university graduates.
The Economic Cost of Japa
Experts say the cost of this youth exodus is mounting. The country is losing skilled talent at an alarming rate, weakening its labor force and reducing its capacity for innovation and productivity.
Brain drain also has long-term implications for national development, including lower tax revenues, a reduced talent pool for local companies, and overreliance on foreign expertise.
“The irony is that young Africans are building billion-dollar startups abroad because they found capital and support elsewhere,” said Dr. Aisha Bello, a development economist at the University of Lagos. “Imagine the wealth we could create if we made that support available at home.”
Shifting the Narrative
Adesina’s message marks a growing shift in development thinking—moving away from charity-based models to frameworks that promote ownership, accountability, and economic empowerment.
His remarks have sparked debate among policymakers, with many agreeing that government-funded “empowerment programs” often fail to move beyond tokenism.
In response, some states in Nigeria have begun piloting youth-focused innovation hubs, fintech accelerators, and small business loan schemes. However, critics argue that without national coordination and private sector involvement, these efforts may fall short.
What Needs to Change?
According to Adesina, Africa must reimagine how it finances its future. He called for a total overhaul of how financial systems assess risk when lending to young people.
“We must design our systems with the youth in mind—not exclude them from opportunities they deserve,” he said.
He also urged governments to create policies that de-risk investments in youth-led ventures, including loan guarantees, co-financing models, and capacity-building support.
The Path Forward
As Africa continues to experience rapid population growth, Adesina insists the continent has no choice but to act—and act fast.
“If we don’t invest in our young people now, the japa crisis will only deepen. But if we do, then Africa will become the world’s next hub of innovation, talent, and prosperity,” he concluded.
For millions of young Nigerians seeking hope, capital, and purpose, Adesina’s words may resonate as a challenge—and a promise.
