Lagos: Mr Michael Ikpoki, Chief Executive Officer of Africa Context Advisory Partners, emphasized that enhancing productivity across Africa could potentially increase the continent's GDP by $1.4 trillion. Ikpoki, who previously served as CEO of MTN Ghana and MTN Nigeria, made these remarks at the Premium Times Employability Summit 2025 in Lagos. The summit, themed 'Converting Nigeria's Demography into Assets', was organized in collaboration with Seven-Up Bottling Company. According to News Agency of Nigeria, Ikpoki urged leaders and managers to tap into the cross-generational potential of Nigeria's workforce and local businesses to boost productivity. He highlighted that the 2023 report indicates productivity in African sectors is still hindered by deficiencies in power and infrastructure. Ikpoki elaborated that employment is not just about job creation but about the economic value those jobs generate. He stated that as productivity improves, it leads to company growth, SME expansion, and individual prosperi ty, which cumulatively expands the economy. Ikpoki also addressed the importance of understanding generational dynamics, outlining the characteristics of various generations from the 1950s to millennials. He stressed that effective collaboration across age groups could enhance workplace productivity. He noted that improving productivity could potentially add about $1.4 trillion to Africa's GDP, which currently stands at approximately $2.8 trillion to $2.9 trillion. Enhanced productivity, he asserted, would support industrial expansion, intercontinental trade, and economic diversification, particularly when driven by digital transformation. Ikpoki underscored the need to grow larger indigenous companies in Nigeria to stimulate the economy through extended value chains and expanded employment opportunities. He pointed out that Africa has about 345 companies with annual revenues exceeding one billion dollars, with a significant portion being home-grown. However, he noted that over 40% of these companies are in South Africa, while only 7% are in Nigeria. Highlighting the economic significance of productivity, Ikpoki remarked that Nigeria's GDP per capita has declined from about $2,200 a decade ago to less than $900 today. He emphasized the importance of creating environments and workplace cultures that maximize people's potential. He urged leaders and managers to embrace cross-generational opportunities constructively. Earlier, Mr Oladeinde Olawoyin, Business, Energy and Economy Editor at Premium Times, expressed gratitude to Seven-Up Bottling Company for sponsoring the summit. He described the event as a critical platform for tackling one of Nigeria's pressing challenges: youth employability. He stressed the necessity of converting Nigeria's demographic strength into productive economic assets. Panelists at the summit explored strategies for unlocking opportunities in sectors like the Creative Economy, Artificial Intelligence, and Agriculture for youth employment. Another panel session focused on 'Cross-Generat ional Workforce and Its Effects on Productivity', providing insights into harmonizing Nigeria's workforce for greater economic output. The summit concluded with calls for stakeholders to reimagine the future of work and take coordinated steps toward building a resilient and inclusive Nigerian economy.
Menu