In a bold declaration that positions the nation’s youth at the forefront of its future, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has spotlighted innovation as the primary engine for Nigeria’s economic transformation.
Speaking at the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation (NPI) Demo Day 3.0, the Minister emphasized that the country’s shift from economic potential to prosperity will be powered by a new generation of young, dynamic entrepreneurs.
Edun highlighted the crucial role of Nigeria’s vast youth population—with over 65% of citizens under the age of 30—as the driving force behind this new era of growth.
He stated unequivocally that the country’s transformation “must be built on ideas, driven by our youth and anchored in inclusivity.” This vision is a clear signal that the government is looking beyond traditional sectors to harness the creative and technological prowess of its young people.
The Minister’s remarks were more than just a call to action; they were backed by concrete policy commitments. He reaffirmed the government’s dedication to providing “patient capital” through initiatives like the N200 billion Presidential MSME Fund, a mechanism designed to provide crucial financial support to small and medium-sized enterprises—many of which are youth-led.
Furthermore, the government is committed to streamlining regulations and acting as an “early adopter” of tech-enabled solutions, thereby providing a vital market for emerging innovators.
Looking to the future, Edun announced a series of upcoming policy tools aimed at scaling up youth-led enterprise. These include the establishment of National Innovation Hubs, the creation of Youth Innovation Trusts, and the mainstreaming of coding in basic education.
These initiatives are designed to cultivate a culture of innovation from a young age and ensure that the next generation of Nigerian leaders are equipped with the skills needed to thrive in a digital economy.
The NPI Demo Day 3.0 served as a powerful illustration of this youth-driven economic agenda. Edun commended the NSIA for its support of startups in vital sectors like health, digital learning, and agri-value chains. He noted that the event was a clear example of how a robust innovation pipeline is central to Nigeria’s post-oil, private-sector-led growth, with young entrepreneurs creating solutions that address the country’s most pressing challenges.
