Millicent Ifeanyichukwu
An educationist, Prof. Adebayo Olu-Adams, on Wednesday highlighted the benefits of youth empowerment and technology adoption in nation’s building.
Olu-Adams, a lecturer, at West Ville University, California, U.S., said at the 37th Edition of Imota Ayayo Day in Lagos that youth empowerment plays a crucial role in the national development.
Olu-Adams, also the guest speaker at the event, said that Nigeria has the largest population of youths in the world and the median age of 18.1 years.
According to him, about 70 per cent of the population is under 30 years and 42 years under the age of 15, posing an advantage to the nation.
“It is estimated that 60 per cent of Nigeria population is at the age of 25, making it the youngest country in Africa. This statistics has a number of implications, especially on job creation.
”The best channel for an accelerated job creation is through the Macro Small Medium Enterprises (MSMEs).
“ If for instance, only 50 per cent of the youths could create just one job each that would generate about 20 million jobs, the employment multiplier of investment in small businesses is very high.
”This will lead to an effective poverty reduction for governments at all levels,” Olu-Adams said.
“What the data shows is that policy makers need to robustly engage small bussinesses across all sectors to determine the appropriate policy intervention for the promotion of economic growth through the MSMEs pathway.
“ If the government must promote economic inclusion, the mainstream of the informal sector should be accorded a priority than it is presently,” he added.
The guest speaker called for delibrate policy to support and protect the informal sector, given its strategic contributions on job creation and economic inclusion.
The lecture, however, advocated for an industrial hub’s cluster for all youths who are interested in transforming their lives through skills acquisition and training to promote technology adoption by entrepreneurs.
According to him, any business that does embrace technology risks extinction, because its adoption in production processes and bussinesses helps in boosting efficiency and saving cost.
Earlier, the Chairman of the Planning Committee, Ayayo Day, Dr Abiodun Okedeyi, said the purpose of the Education Endowment Fund was to create an Information Communication & Technology (ICT) Innovation Hub.
Okedeyi said the hub, self-sustaining, would focus on providing reasonable scholarship support for brilliant indigent students through vocational skills acquisition and an ICT centres.
This, he added, would attract new investment, create new jobs and close the digital divide among peoples.
” Today, most examination bodies are clamouring for Computer Based Examinations, (CBE) for their various assessments.
“This has been a major challenge for most of the indigent students at the secondary school level and it requires an urgent intervention by all and sundry.
“Also, most restless youth without skills and unpaid employment are trooping to the suburb to perpetrate crimes.
Our intention is to address some of these challenges through ICT- based intervention,” Okedeyi added.
He, however, solicited for the support of community leaders and residents in making the vision a reality.
The News Agency of Nigeria(NAN) reports that Imota Ayayo Day is an annual celebration.
The 2023 edition was round off with the launch of N250 million endowment fund for an educational ICT and innovation hub.
The three-day programme featured Royal Parade, annual lecture and awards to prominent families and individuals that have contributed to the development of the town and
launching of 259 Millions enforcement fund.