The President of the World Bank, Ajay Banga has warned that without coordinated global action, Africa’s rapidly growing youth population, particularly Nigeria's, could turn into unrest and instability.
Speaking at the 2025 Annual Meetings of the International Monetary Fund and the World Bank Group, Banga projected that Nigeria’s population could increase by approximately 130 million by 2050, cementing its position as one of the world’s most populous nations.
"Without deliberate action, optimism could give way to despair, driving instability, unrest, and mass migration with consequences for every region and economy," Banga said, stressing the urgent need for economic opportunities to match the continent’s demographic expansion.
He described Africa’s population growth as both a tremendous opportunity and a potential risk.
Banga cautioned that over the next 10 to 15 years, roughly 1.2 billion young people will enter the global workforce, competing for only 400 million available jobs, leaving a gap of 800 million unemployed or underemployed youth worldwide.
Citing Africa as the epicentre of this demographic shift, he mentioned that countries such as Zambia and Mozambique will see significant population growth, while Nigeria’s population alone could swell to nearly 370 million by mid-century.
The World Bank President also disclosed that the Bank has expanded its financial capacity by around $100 billion through new instruments and partnerships.
A pipeline of 175 co-financed projects, 22 of which are already funded, is expected to mobilise $23 billion in investments, with a particular focus on developing economies such as Nigeria.
Nigeria, Africa’s most populous nation, already faces high youth unemployment, estimated at over 33 per cent in 2024, alongside major infrastructure deficits and limited social services.
Economists have long debated the challenges and opportunities presented by the country’s youthful population, which accounts for over 60 per cent of its citizens under the age of 25.
Banga concluded that with deliberate and sustained investment, Africa’s young population could become a powerful engine for innovation and sustainable growth, but failure to act could have far-reaching consequences for global stability.
"Reconstruction is an essential part of our mandate. A service we stand ready to deliver whenever and wherever it’s needed and to the best of our ability. At the same time, as an institution of development, we are equally committed to conflict prevention.
"Alongside rebuilding what has been lost, we must also focus on creating the conditions for opportunity and stability. That is what motivates our actions and decisions today. We are living through one of the great demographic shifts in human history. By 2050, more than 85 per cent of the world’s population will live in countries we call 'developing' today.
"In just the next 10 to 15 years, 1.2 billion young people will enter the workforce, vying for roughly 400 million jobs. That leaves a very large gap. Let me express that urgency another way: Four young people will step into the global workforce every second over the next ten years.
"Between now and then, estimates suggest that Zambia will add 700,000 people every year. Mozambique’s population will double. While Nigeria will swell by about 130 million, firmly establishing itself as one of the most populous nations in the world.
"These young people, with their energy and ideas, will define the next century. With the right investments, focused not on need but on opportunity, we can unlock a powerful engine of global growth.
"Without purposeful effort, their optimism risks turning into despair, fueling instability, unrest, and mass migration, with implications for every region and every economy.
"Without deliberate action, optimism could give way to despair, driving instability, unrest, and mass migration with consequences for every region and economy.
"This is why jobs must be at the centre of development, economic, or national security strategy," he said.
Comments
Post a Comment