Posted by Chinenye on Tue 13th Oct, 2026 - tori.ng
Akinwumi Adesina says many young Nigerians struggle to get money to start or grow their businesses.
(Dr Akinwumi Adesina. Photo Credit: Nigeria Stories)
Former African Development Bank President Akinwumi Adesina says young Nigerians need better access to money to grow their businesses.
He spoke in Lagos on Monday at the Seyi Tinubu Colloquium.
He said banks often see young people as a risk instead of a chance.
Many cannot offer the property or other collateral banks ask for, so they get turned down even when they have good ideas.
He said young people want to succeed and need a financial system willing to back them.
Adesina said the African Development Bank has put $100 million into a Youth Entrepreneurship Investment Bank model in Nigeria.
The Nigerian Sovereign Investment Authority and the Development Bank of Nigeria are also putting money in.
He said the aim is to build wealth through young people's businesses, not just hand out aid.
He added that the Tinubu government is working to roll the plan out.
He also laid out a simple path from skills to wealth.
Teach young people tech skills, connect them to money and markets, then help them build businesses that hire others.
In his words, Nigeria will invest in its young people and help create the next generation of great African entrepreneurs.