President Bola Ahmed Tinubu declared on Monday that Nigeria is set to harness the potential of its youthful population to transform into a global digital economy powerhouse. He also hinted at the nation's plans to become a global hub for outsourcing talent within the digital and creative economy.

This was the submission made by President Tinubu who was represented by Vice President Kashim Shettima at the meeting of African Heads of State and Government on the 21st Replenishment of the International Development Association (IDA21) in Nairobi.

This is just as African Heads of State and Government committed countries on the continent to strengthen implementation capacities, mobilizing domestic resources, and partnering effectively with IDA to accelerate the continent's economic transformation.

President Tinubu also reiterated Nigeria's plans to build a vast digital market capable of absorbing cutting-edge innovations and technologies, positioning the country as a hub for outsourcing talent in the digital and creative economy spheres.

President Tinubu informed other African leaders of the sweeping reforms implemented by his administration to curb illicit activities and currency manipulation that had long hindered the nation's progress.

Alongside the digital transformation agenda, President Tinubu said Nigeria is committed to prioritizing climate resilience and becoming an attractive destination for carbon market investments. He expressed Nigeria's belief that the summit's communiqué would reflect the collective needs of African and IDA countries, capturing their "nuances, consensus, dreams, and projections."

President Tinubu listed key priorities for Nigeria's economic recovery in his administration's Renewed Hope Agenda, anchored on poverty alleviation, to include economic expansion, job creation, enhanced access to capital, food security, and inclusivity.

He also stressed the importance of regional economic integration through instruments like the African Continental Free Trade Area (AfCFTA) Agreement to dismantle investment barriers and facilitate access to international markets.

Earlier in his opening remarks, the President of Kenya, William Ruto, said the summit was urgent because it was convened at a critical juncture facing a convergence of global crises which include escalating geopolitical tensions that challenge international unity, a deepening development and debt crisis that threatens our economic stability, and an urgent climate emergency that demands immediate and collective action for our planet's survival.

He gave instances of the devastating impact of severe flooding in the East African region which, according to him, has displaced thousands in Nairobi alone, and the vulnerability of the continent to extreme weather patterns, which points to the critical role of the IDA in financing Africa's development and stability.

Also speaking, the World Bank President, Ajay Banga, expressed optimism about Africa's potential, saying it's very easy to feel hopeful when we're together anywhere in Africa, adding that you feel the infectious energy of young people. Banga affirmed the IDA's commitment to accelerating progress on the continent, vowing to move with urgency and purpose," while making the institution more efficient and impactful.

At the end of the Summit, African Heads of State and Government adopted a joint communique committing countries on the continent to accelerate the continent's economic transformation by strengthening implementation capacities, mobilizing domestic resources, and partnering effectively with IDA.

They also called for an ambitious replenishment of the International Development Association (IDA) to support the continent's development goals.