The Managing Director and Chief Executive Officer of the Bank of Industry (BoI) Limited, Dr. Olasupo Olusi has said Youth-led industrialisation, powered by innovation and entrepreneurship, can forge a pathway towards not only job creation but sustainable development and economic empowerment for the entire nation.

In a thought-provoking public lecture delivered at Obafemi Awolowo University, Ile-Ife, Dr.  Olusi explored the essential nexus between youth innovation, entrepreneurship, and Nigeria’s path towards industrialisation and sustainable development.

The lecture, titled: “Catalysing Youth-led Industrialisation through Innovation and Entrepreneurship for Sustainable Development in Nigeria: The Role of the Bank of Industry,” , Dr. Olusi’s painted a elucidated on the challenges and opportunities facing the country’s youth and industrial landscape, emphasising the narrative that the country must shift from one of limitation to one of limitless potential.

“With a median age of just 18 years and over 70 per cent  of its population under 30, Nigeria is one of the youngest countries in the world. Yet, this youth bulge presents a dual-edged sword. Annually, around eight million young Nigerians enter the labour market, facing an economy that offers limited job prospects. As of Q3 2023, youth unemployment for ages 15 to 24 stood at 8.6 per cent , and a staggering 18 million young people are not in education, employment, or training. When a nation cannot absorb its youth into productive activity, the resulting frustration can lead to insecurity and disillusionment,” he said.