The Vice Chancellor of the African School of Economics in Abuja, Prof. Mahfouz Adedimeji, has called on Nigerian youth to adopt strategies that would enable them to escape poverty and navigate the challenging economic landscape. This advice was shared during his lecture titled “Overcoming Economic Crisis and Multidimensional Poverty: Exploring Pathways to Prosperity,” presented at a lecture series organized by the University of Ilorin Muslim Graduates Association (UNILOMGA) on October 26, 2025, marking the university”s 50th anniversary.
In his address, Prof. Adedimeji emphasized that the fundamental needs of humans, such as food, clothing, and shelter, are inherently economic, a notion echoed by philosophers like Plato throughout history. He argued that addressing these basic economic needs could alleviate numerous challenges faced by millions of individuals. This perspective has influenced the integration of economic literacy as a foundational element in the education of students at the African School of Economics, known as a Pan-African University of Excellence.
Prof. Adedimeji explained that multidimensional poverty encompasses various deprivations, including lack of education, poor health, inadequate living standards, and limited access to essential services. He asserted that individuals can escape poverty by enhancing their skills through education, producing marketable goods, and acquiring abilities that lead to income generation or the provision of valuable services.
The academic, who is also a chartered world encyclopedist and a Fellow of the Corporate Administration of Nigeria, pointed out that managing expenses and increasing income are proven strategies for surviving in an economy prone to crises. He also encouraged young people to engage in volunteer work as a means of gaining experience and opening doors to future opportunities.
Prof. Adedimeji noted that the reforms initiated by the Federal Government under President Bola Ahmed Tinubu have begun to yield positive results, with the value of the Naira gradually appreciating against foreign currencies and the real GDP showing improvement from 3.0% in 2024 to 4.23% currently. He identified the path to prosperity in Nigeria as one that involves diversifying the economy, enhancing education and skills development, improving healthcare, establishing social safety nets, developing infrastructure, and promoting good governance and accountability.
He urged Nigerians to embrace a strong work ethic and maintain faith, trust, patience, and hope in the face of adversity. The event included a question-and-answer session where participants raised real-life issues affecting Nigeria, and Prof. Adedimeji offered practical ideas for transforming challenges into opportunities.
