World Bank Country Director for Nigeria, Dr Ndiame Diop, has said with the expected growth of Nigeria’s working population hitting about 100 million in the next 25 years, the rapid increase presents a unique opportunity for the country to become a major driver of economic growth.
Diop said the growth will surpass Africa and transcend globally considering the aging population in East Asia and Europe.
However, realising the potential, he said, hinges on Nigeria’s ability to generate millions of additional productive and formal employment opportunities for its increasing educated and tech-savvy young people.
The World Bank boss spoke while delivering the Distinguished Personality Lecture Series, organised by the Department of Agricultural Economics, University of Ibadan.
Speaking, Dr Diop said Nigeria’s economy needs to not only grow at a faster pace but also undergo a transformation, noting that the transformation must accelerate the movement of workers from low productivity, low-paying and often informal jobs to more productive and higher-paying positions.