Youth empowerment is the key to unlocking Nigeria’s economic
potential – Prof. (Chief) Isaac Zeb-Obipi’s keynote address at DMOMA Awards 2024.
YOUTH EMPOWERMENT: THE SUREST MEANS FOR ECONOMIC
GROWTH IN NIGERIA
CHIEF PROF. ISAAC ZEB-OBIPI,
Professor of Management and Director,
Information and Communication Technology Centre,
Rivers State University, Nkpolu-Oroworukwo, Port Harcourt.
KEYNOTE ADDRESS PRESENTED AT THE 2024 DMOMMA AWARDS HELD ON
WEDNESDAY, DECEMBER 4, 2024, ARENA EVENT CENTER, GRA, PORT HARCOURT.
INTRODUCTION
I am honoured to stand before you today to discuss a critical issue that has far-reaching
implications for the future of our great nation. The topic of youth empowerment is not just a moral
imperative; it is an economic necessity. Nigeria, with a population of over 200 million people, has
one of the largest youth populations in the world. According to the National Bureau of Statistics,
over 60% of Nigeria’s population is below the age of 25.
This demographic dividend presents a
unique opportunity for economic growth and development.
However, the reality on the ground tells a different story. Many Nigerian youths lack access to
quality education, skills training, and job opportunities. This has led to a high level of
unemployment, poverty, and restiveness among youths. But I stand before you today to say that
this narrative can change.
Youth empowerment is the key to unlocking Nigeria’s economic
potential.
When we empower our youths, we are not only investing in their future; we are investing
in the future of our nation. This address focuses on how youth empowerment can enhance
economic growth in Nigeria.
CONCEPTS, DIMENSIONS AND GOALS OF YOUTH EMPOWERMENT
Youth empowerment is the process of enabling young people to take control of their lives, make informed decisions, and become active contributors to their communities and societies. It involves
providing young people with the skills, knowledge, and support they need to overcome challenges,
achieve their goals, and reach their full potential. It means providing our youths with access to
quality education and skills training that prepares them for the modern workforce. It means
creating job opportunities and entrepreneurship programs that enable youths to become employers
of labour rather than just job seekers. It means providing our youths with access to mentorship,
networking opportunities, and financial resources that enable them to turn their ideas into reality.
There are different concepts of youth empowerment as it encompasses various aspects. These
include:
a) Education and skills development: Providing young people with access to quality
education, vocational training, and skills development programs.
b) Economic empowerment: Enabling young people to access economic opportunities, such
as employment, entrepreneurship, and financial services.
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c) Social empowerment: Promoting young people’s participation in social and civic
activities, such as volunteering, community service, and leadership development.
d) Psychological empowerment: Fostering young people’s self-esteem, confidence, and
resilience through mentorship, counselling, and peer support.
e) Political empowerment: Encouraging young people’s participation in governance,
decision-making, and policy development.
Youth empowerment is goal oriented. It seeks to: (a) promote youth development and well-being,
(b) encourage youth participation and engagement, (c) build youth capacity and leadership, (d)
foster social cohesion and community development, and (e) support economic growth and
development. The implication of these goals is that youth empowerment is not just about individual
benefits; it is also about collective benefits. Youth empowerment is essential for creating a brighter
future for young people and for society as a whole.
CONCEPTS AND DRIVERS OF ECONOMIC GROWTH
Economic growth refers to the increase in the production of goods and services in an economy
over a period of time. It is typically measured by the percentage change in the Gross Domestic
Product (GDP), which is the total value of all final goods and services produced within a country’s
borders.
Economic growth can be driven by various factors, including:
a) Increases in productivity: Improvements in technology, innovation, and efficiency can
lead to higher output and economic growth.
b) Investment in human capital: Education, training, and healthcare can increase the
productivity and skills of the workforce.
c) Investment in physical capital: Investment in infrastructure, machinery, and equipment
can increase productivity and output.
d) Technological progress: The development and adoption of new technologies can lead to
increased productivity and economic growth.
e) Institutional factors: A stable and supportive institutional environment, including the rule
of law, property rights, and good governance, can encourage investment and economic
growth.
Economic growth can have various benefits such as increased standard of living, job creation,
reduced poverty, and improved public services. Economic growth can lead to higher incomes and
improved living standards, the creation of new job opportunities, help reduce poverty by creating
new economic opportunities and increasing incomes and provide governments with the resources
needed to invest in public services such as healthcare, education, and infrastructure. However,
economic growth can also have negative consequences. Economic growth can lead to increased
environmental degradation and resource depletion, exacerbate income inequality if the benefits of
growth are not shared fairly among the population and lead to social unrest if the growth is not
accompanied by improvements in living standards and social welfare. However, given its benefits,
how can youth empowerment enhance economic growth?
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YOUTH EMPOWERMENT AND ECONOMIC GROWTH: THE NEXUS
Youth empowerment can enhance economic growth through human capital development,
economic participation, social and economic stability, demographic dividend, and investment and
economic opportunities. These it offers as the surest way to economic growth in the following
instances:
a) Increased productivity: Empowering youths with education, skills training, and
healthcare can increase their productivity and contribution to the economy.
b) Innovation and entrepreneurship: Empowered youths are more likely to innovate, start
businesses, and create jobs, leading to economic growth.
c) Labor market participation: Empowering youths to participate in the labor market can
increase the workforce and contribute to economic growth.
d) Consumer spending: Empowered youths with disposable income can drive consumer
spending, boosting economic activity.
e) Reduced poverty and inequality: Empowering youths can help reduce poverty and
inequality, leading to a more stable and prosperous society.
f) Improved governance and institutions: Empowered youths can contribute to improved
governance, institutions, and decision-making processes, creating a more favorable
business environment.
g) Demographic dividend: Empowering youths can help Nigeria reap the benefits of its
demographic dividend, where a large youth population drives economic growth.
h) Attracting investment: Empowering youths can make Nigeria a more attractive
destination for investment, as a skilled and educated workforce is a key factor in investment
decisions.
i) Creating economic opportunities: Empowered youths can create new economic
opportunities, such as starting businesses, creating jobs, and driving innovation.
So, what can we do to empower our youths and drive economic growth in Nigeria? First, we need
to invest in education and skills training programs that prepare our youths for the modern
workforce. Second, we need to create job opportunities and entrepreneurship programs that enable
youths to become employers of labour. Third, we need to provide our youths with access to
mentorship, networking opportunities, and financial resources that enable them to turn their ideas
into reality.
CONCLUSION
In conclusion, youth empowerment is a sure means for economic growth in Nigeria. When we
empower our youths, we are building a more productive and competitive workforce. We are
creating a more innovative and entrepreneurial economy. We are reducing poverty and inequality.
And we are promoting social cohesion and stability. Let us work together to empower our youths
and drive economic growth in Nigeria. Let us create a brighter future for ourselves, our children,
and our grandchildren. By empowering youths, Nigeria can unlock the potential of its large youth
population, drive economic growth, and create a more prosperous and stable society.
