Paola Pace, chief of mission for the International Organisation for Migration (IOM) in Nigeria, says youth entrepreneurship is critical in driving the country’s economic renaissance.

Ms Pace, represented by Elizabeth Poage, the national officer for labour migration and diaspora, said this at the ongoing eighth Annual Emerging Entrepreneurs Summit in Abuja on Thursday.

The Eminent Emerging Entrepreneurs Foundation and Thelema Lion Foundation organised the summit in partnership with IOM.

The theme of the two-day event is; ” Invest in Refining of Raw Materials and Talents: Panacea for Decent Job Creation”.

Ms Pace decried the vast untapped potential of Nigeria’s youth population, which she said constituted nearly 70 per cent of the country’s total population.

She acknowledged the global employment crisis, with more than 64 million young people unemployed worldwide and called for urgent solutions.

The chief of mission said this was particularly crucial within Nigeria, where high unemployment rates and social inequality had led many youths to seek opportunities abroad.

She noted that youth entrepreneurship could transform Nigeria’s workforce from job seekers to creators, fostering innovation and economic growth.

“The future of Nigeria lies in its youth, thus the need for investment in refining raw materials and talents to create sustainable jobs,’’ she said.

Ms Pace emphasised the importance of a supportive ecosystem for entrepreneurship, including better access to training, mentorship, funding, and career guidance.

According to her, key sectors such as agriculture, technology, and renewable energy are key areas that will engender innovation and job creation.

She urged stakeholders to remove barriers for young entrepreneurs and develop youth-friendly financial services to unlock their potential.

Ms Pace reaffirmed IOM’s commitment to supporting Nigeria’s youth through partnerships to enhance skills and employability, particularly in green jobs and sustainable industries.

She called for a collective effort to ensure “no one is left behind” in the drive for a more inclusive and prosperous future.

Earlier, Eberechi Marcus, the convener of the summit, reiterated the importance of inclusion and training for small business owners.

(NAN)