Former president of the African Development Bank Group, Dr. Akinwumi Adesina has urged African leaders to invest in education, healthcare, technology and skills development to transform the continent’s growing youth population into an engine of economic growth.
Adesina made the call while delivering the keynote address, titled “Africa Next: Building the Demographics Asset Class,” at The Seyi Tinubu Colloquium, themed “Shaping the Future.”
He said Africa’s growing population presented an enormous economic opportunity but warned that population size alone would not guarantee prosperity without deliberate investments in human capabilities.
He noted that one in every four people in the world is projected to be African by 2050.
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“The most important question is not how many people we have, but what they will be able to do, the problems they can solve and the value they can create,” he said.
He described this approach as a “demographics asset class,” arguing that a population becomes an economic asset when its members possess the knowledge, skills, health and opportunities needed to contribute productively to society.
“Population is what we inherit, but capabilities are what we build,” he said.
Adesina stressed that investments in human capital should receive the same priority as physical infrastructure, describing education, skills and innovation as “grey matter infrastructure” essential for building productive economies.
According to him, it is the human mind that creates businesses, develops ideas and transforms innovation into economic value.
He added that education should not be treated merely as a public service but as a strategic investment in national productivity and wealth creation.
The former AfDB president also emphasised the importance of healthcare, nutrition and social protection, noting that educated people cannot reach their full productive potential without good health and adequate support systems.
He said Africa must align its education and skills-development programmes with emerging economic opportunities, particularly in the digital economy, where demand for software developers, technology professionals and innovators continues to grow.
On artificial intelligence, Adesina warned that Africa must not become merely a consumer of technologies developed elsewhere but should actively participate in creating them.
He urged African innovators to develop AI solutions tailored to local languages, businesses, agriculture and education, stressing that the continent had an opportunity to shape how the technology would influence its future.
“The question is not whether AI will change Africa. It will. The question is whether Africa will shape that change,” he said.
Adesina argued that youth unemployment should not be blamed solely on young people, identifying poor-quality education, inadequate access to finance, unreliable electricity and weak institutions as systemic barriers preventing them from realising their potential.
He maintained that Africa’s demographic advantage would only translate into prosperity if governments and institutions created an enabling environment for young people to acquire skills, establish businesses and secure decent jobs.
He also commended President Bola Tinubu’s investment in human capabilities, citing the Nigerian Education Loan Fund (NELFUND) as an initiative capable of reducing financial barriers to education.
However, he said the ultimate measure of student financing should be the skills, opportunities and productive capacity it helps create.
The governor of Lagos, Babajide Sanwo-Olu in his remarks, underscored the importance of mentorship and investing in younger generations as essential elements of lasting leadership.
Reflecting on his long standing relationship with President Tinubu, the governor said meaningful legacies were built when leaders nurtured young people and created opportunities for others to continue the work they had started.
He urged Nigerians to mentor young people, provide employment opportunities and support those who might otherwise be excluded from economic participation.
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The governor said developing young people was essential to building a legacy that would outlive its founders.
Earlier, the convener, Seyi Tinubu called on young Nigerians to prepare for leadership and take an active role in addressing the country’s economic and social challenges.
He said the next generation must be equipped to respond to emerging challenges through collaboration, enterprise and creativity, adding that Nigeria could not afford to consume resources that should be invested in its future.
Tinubu encouraged young people to take responsibility for shaping the country’s development trajectory, expressing confidence in their ability to drive innovation and economic transformation.
The Chairman, Organising Committee, Moyosore Adebanjo added that the purpose of the colloquium was aimed at creating room for established and emerging leaders from public life, enterprise, technology, the creative industries, civil society and development community to exchange ideas, share experiences and learn from one another.
