Former President of the African Development Bank Group, Dr Akinwumi Adesina, has called for a fundamental shift in Africa’s economic priorities, urging governments to turn the continent’s natural wealth and human resources into productive industries, skilled employment and sustainable prosperity.
He argued that Africa’s development would depend on its ability to convert resources into goods, technologies and businesses that generate lasting economic value, rather than relying heavily on the export of raw commodities.
Adesina delivered the message at the Broad Pool of Ideas Foundation’s Iconic Leadership and Excellence Awards in Johannesburg, South Africa, where he addressed the role of leadership in shaping Africa’s position in the global economy. His presentation focused on how the continent could build a more integrated and competitive economic fut
Local Processing Key to Economic Transformation
Adesina urged African governments to place greater emphasis on processing raw materials within the continent, explaining that stronger local industries could create more economic opportunities from resources already available.
He identified the gap between resource extraction and finished-product manufacturing as an important challenge for African economies. In his view, developing processing facilities and manufacturing businesses would allow countries to retain more value, expand employment and strengthen domestic production.
Nigeria’s Dangote Refinery, an industrial investment valued at about $20 billion, featured in his discussion as an example of the scale of enterprise that can be developed in Africa.
Adesina also pointed to opportunities in vehicle production, battery manufacturing, steel, pharmaceuticals, medical equipment and food processing. Developing these sectors, he argued, would help African economies participate more substantially in industrial supply chains.
For resource-rich countries, the implication is clear: economic planning must look beyond the quantity of raw materials extracted and consider the industries, skills and jobs that can be built around them.
Young Africans Need Skills and Opportunities
Adesina placed considerable emphasis on the role of young people in Africa’s economic future, stressing that population growth must be matched with investments that enable citizens to contribute productively.
He called for stronger education systems, practical vocational training and opportunities for young entrepreneurs to develop businesses that meet local needs and compete internationally.
He also highlighted artificial intelligence, robotics, biotechnology, cybersecurity and data science as fields in which African professionals and businesses should develop greater expertise.
Rather than limiting young people to operating imported technologies, he advocated preparing them to participate in the development of new products and technical solutions.
This approach would require cooperation among governments, universities, training institutions, investors and private companies to connect education with the skills needed by emerging industries.
Research and Technology Must Support Production
The former AfDB president also urged African countries to increase investment in research facilities, universities, computing infrastructure and technical institutions.
He argued that technological capacity would become increasingly important as global competition expands in advanced computing, automation and artificial intelligence.
For Africa, building such capacity could support more efficient manufacturing, encourage innovation and enable local businesses to develop solutions for agriculture, healthcare, energy and transportation.
However, technological progress requires more than acquiring equipment. It also depends on trained professionals, reliable infrastructure, access to finance and policies that encourage research to become commercially useful.
Adesina’s position reinforces the need to connect scientific research with industrial development so that new knowledge can generate practical economic benefits.
Regional Trade Can Expand Industrial Opportunities
Adesina called for African countries to strengthen economic cooperation and make fuller use of the African Continental Free Trade Area (AfCFTA).
He argued that closer integration could help businesses reach larger markets, develop cross-border supply chains and expand production beyond individual national economies.
Countries could benefit by combining their different strengths in agriculture, energy, minerals, manufacturing and technical services. Such cooperation could also improve the availability of inputs needed by industries and encourage investment in regional production networks.
The broader objective is to make African economies more connected and competitive, allowing businesses to serve consumers across the continent while retaining a greater share of the value created.
Leadership and Accountability Remain Essential
Adesina also emphasised the importance of ethical leadership in determining whether Africa’s resources produce broad-based development.
He called for public institutions that operate transparently and manage national resources in the interest of citizens.
Sound governance, responsible investment decisions and accountability in public spending are important to ensuring that revenues from natural resources support infrastructure, education, healthcare and productive economic activities.
He maintained that Africa’s progress would require leaders who can turn long-term development ambitions into practical policies and support institutions capable of delivering results.
A New Focus on Productivity and Prosperity
Adesina’s message highlights the need for African countries to measure development not simply by the resources they possess, but by how effectively those resources support production, innovation and improved living standards.
For Nigeria, this means expanding opportunities for local processing, strengthening agricultural value chains, developing manufacturing and equipping young people with relevant technical skills.
Achieving these goals will require sustained investment, effective public institutions and stronger partnerships between governments and the private sector.
Ultimately, Africa’s economic prospects will depend on its ability to translate natural wealth and human talent into competitive industries, productive employment and opportunities that reach communities across the continent.
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