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EconomyFeatured

Why African economies must move from commodity dependency, Ezekwesili

Former Minister of Education, Obiageli Ezekwesili, has emphasised need for African economies to transition from commodity dependence to manufacturing, industrialisation, and high-value service industries to create sustainable jobs.
Ezekwesili made these remarks on Monday while delivering the 20th anniversary lecture of Redeemer’s University, Ede, Osun.

The News Agency of Nigeria (NAN) reports that the lecture had the theme, “The reality of our time: Technology and values for a sustainable future.”

Citing World Bank data, Ezekwesili noted that between 10 to 12 million young Africans entered the labour market annually, yet only about 3 million formal jobs were created.

“This leaves millions underemployed or struggling in the informal economy,” she said.

A former World Bank Vice President for Africa, Ezekwesili stressed that investments in infrastructure, power, transportation, and digital connectivity could drive job creation across multiple sectors.

She also emphasised the need for Africa to train its youth in emerging technologies such as Artificial Intelligence (AI), cybersecurity, blockchain, and robotics to remain competitive in the global digital economy.

“AI and automation are reshaping labor markets worldwide,” she said.

“The government and private sector must collaborate on AI literacy programs that teach coding, machine learning, and data analytics in schools and vocational training centers.

“Upskilling and reskilling programs should target workers in at-risk industries, helping them transition into AI-augmented roles.

“Universities should integrate AI, robotics, and cybersecurity courses into mainstream education to ensure graduates are job-ready.”

According to Ezekwesili, over 60 per cent of Africa’s population is under the age of 25, making it home to the world’s youngest workforce.

“This phenomenon, often referred to as the youth bulge, presents both opportunities and risks.

“If adequately harnessed, Africa’s youthful population can drive innovation, entrepreneurship, and economic growth.

“However, if neglected, it could result in mass unemployment, economic stagnation, and social unrest,” she warned.

She further urged universities to shift from rote memorisation-based learning to fostering critical thinking, innovation, and adaptability.

Earlier, in his remarks, the Vice-Chancellor of Redeemer’s University, Prof. Shadrach Akindele, described the institution’s 20th anniversary as a reflection of its achievements in academics, spirituality, and scientific research.

Akindele noted that the topic of the lecture was not only timely but also a call to action rather than just an intellectual discourse

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