Nigeria backs youth and local industries

The Nigerian government is calling for greater investment in young people, small businesses and technology to develop local industries and shift the country from a trade-oriented economy towards a value-chain economy. Minister of State for Foreign Affairs Sola Enikanolaiye defended this approach at the 32nd Nigerian Economic Summit, according to a statement published on Tuesday and signed by his special assistant, Raphael Oni.

Enikanolaiye called for stronger cooperation between public authorities and the private sector, as well as the mobilisation of domestic and foreign capital. The aim, he said, is to turn raw materials into finished products, create jobs and improve living standards. He described Nigeria’s young population as an asset for industrialisation, provided there is investment in skills, innovation and entrepreneurship.

The minister also explained that the so-called “4D” diplomatic doctrine had been reordered around the national interest and the well-being of Nigerians. It is based on demography, development, democracy and the diaspora.

This call for investment in young people echoes an initiative by Katsina State, which announced on 27 October that it had trained 1,662 young people and invested more than 4 billion naira in skills and economic activities, according to the report published that day.