Vice President Kashim Shettima says Nigeria has the potential to outpace major world economies, including the United States, if it fully leverages its youthful population and abundant human capital.
Speaking on Nigeria's demographic advantage, Shettima noted that with a median age of 16.9 and 58% of the population under 30, the country can turn its "demographic bulge into demographic dividends" through education, skills development, and infrastructure investment.
Citing an international consultancy, he revealed that by 2035 the world will face a 65 million global talent deficit, with the U.S., Russia, and Brazil each projected to lack six million skilled workers.
"Nigeria is in a unique position to tap into these potentials," he said, pointing to the country's large English-speaking population and proximity to Europe as key advantages.
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Shettima drew a parallel with India, which generated over $100 billion from business process outsourcing (BPO) last year, far surpassing Nigeria's highest oil revenue of $25 billion recorded in 2011.
He stressed that Nigeria could become a global outsourcing hub if it prioritizes service exports over oil dependency.
The Vice President urged investors and policymakers to embrace a knowledge-driven economy, warning that Nigeria's population could either be its greatest asset or its greatest challenge depending on how it is managed.
