The Chief Executive Officer of the Bank of Industry (BoI), Olukayode Olusi, has emphasized the critical role of youth-led industrialization in driving job creation in Nigeria. Speaking at a recent conference on economic development held in Lagos on July 1, 2025, Olusi outlined how empowering the younger generation can help tackle the nation’s pressing unemployment crisis.
Harnessing Youth Potential for Economic Growth
During his address, Olusi highlighted the immense potential of Nigeria’s youth population, which comprises over 60% of the country’s demographic. He stated, “Our youth are not just the leaders of tomorrow; they are the innovators of today. By investing in their skills and entrepreneurial spirit, we can catalyze industrial growth and create sustainable jobs.”
Olusi pointed to several successful initiatives that the BoI has implemented to support young entrepreneurs. These include access to low-interest loans, training programs, and mentorship opportunities designed to equip them with the necessary skills to thrive in various industries. He noted that these efforts aim to foster a culture of entrepreneurship among the youth, ultimately leading to increased industrial activity.
The Importance of Sustainable Industrialization
In his remarks, Olusi stressed that youth-led industrialization must focus on sustainability. He urged young entrepreneurs to adopt environmentally friendly practices and innovative technologies in their ventures. “Sustainable industrialization is not just a trend; it is imperative for long-term economic viability. We must ensure that our industrial growth does not come at the expense of our environment,” he asserted.
He also highlighted the importance of collaboration between the government, private sector, and educational institutions to create an ecosystem that supports youth-led initiatives. By fostering partnerships, stakeholders can share resources, knowledge, and networks, leading to more robust industrial growth.
Call to Action for Stakeholders
Olusi concluded his address with a call to action for all stakeholders, including policymakers, investors, and the youth themselves. He encouraged the government to create more enabling policies that support industrialization and entrepreneurship. Additionally, he urged investors to recognize the potential of youth-led enterprises and consider them for funding.
“Young people have the drive and creativity to transform our economy. It is time for us to invest in their ideas and provide them with the resources they need to succeed,” Olusi emphasized.
As Nigeria grapples with high unemployment rates, the insights shared by BoI CEO Olukayode Olusi highlight the urgent need to harness the potential of the youth. By focusing on youth-led industrialization, Nigeria can pave the way for job creation and sustainable economic growth. Through collaborative efforts and targeted investments, the country can empower its young population to become the driving force behind a prosperous future.
