Statement by H.E. Adebayo O. Edun - On the 111th Meeting of the Development Committee, April 24, 2025 - Energy Access for Resilience Growth and Job Creation

Jul 19, 2026

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Statement by H.E. Adebayo O. Edun of Nigeria, speaking on behalf of the Angola, Nigeria, and South Africa constituency, addresses progress and priorities for the World Bank Group and IMF Development Committee. It highlights Africa’s job and employment constraints, including slow growth, inflation, labor market mismatches, weak private-sector development, informality, and limited infrastructure. The statement endorses a jobs-focused approach and emphasizes energy access as a core enabler for education, healthcare, entrepreneurship, agricultural productivity, regional integration, and resilient, sustainable job creation.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

Development Committee context and jobs theme

Africa’s employment and economic development challenges

Three-part approach and priority sectors

Energy access for resilience, growth and job creation

Energy access impacts and policy relevance

M300 initiative and Energy Compacts

Public Disclosure Authorized Public Disclosure Authorized DEVELOPMENT COMMITTEE (Joint Ministerial Committeeof the Boards of Governors of the Bank and the Fundon theTransfer of Real Resources to Developing Countries) ONE HUNDRED AND ELEVENTH MEETINGWASHINGTON,DC-APRIL 24,2025 DC/S/2025-0028 April 24,2025 Statement by H.E.Adebayo O.EdunMinister of Finance and Coordinating Minister of Economy Federal Republic of Nigeria On behalf of the Constituency of Angola,Nigeria and South Africa Statement by H.E.Adebayo O.EdunMinister of Finance and Coordinating Minister of Economy Federal Republic of Nigeria On behalf of the Constituency of Angola,Nigeria and South Africa 111Meeting of the Development Committee April 24,2025 Washington,DC The year 2024 marked the 80h anniversary of the Bretton Woods conference which established the WorldBank and the IMF as a system of international cooperation.It also marked the end of the extensivediscussions to reform the WBG in becoming an evolved multilateral institution that is well equippedfinancially and operationally to serve the needs of its clients.We progress in 2025 to begin testing therobustness of our vision to end extreme poverty on a livable planet.We commend the WBG for theimpressive work that has been implemented through the Evolution Roadmap Process.We acknowledge thedeliverables that have been achieved and look forward to the implementation progress reports. Africa faces multifaceted and complex challenges in employment and economic development.Sloweconomic growth,political instability,inflation,and currency devaluation have constrained job creation,particularly in the private sector.Inefficient labor market policies,regulatory burdens,and barriers toentrepreneurship further hinder opportunities for growth.Additionally,the lack of affordable energy accessand low industrialization pose significant barriers to progress. In this context we welcome the 111hDevelopment Committee overarching theme“Jobs:The Path toprosperity”which we believe is timely and can intentionally target the root causes of poverty with policiesand programs from the WBG that supports more,better and quality jobs,fostering dignity for improvedlivelihood and sustainable development,especially in the developing economies.The job market in Africais diverse and varies significantly from country to country,even within different regions of each country.However,there are some general trends and challenges that can be observed across the continent. Youth unemployment remains a pressing concern,with a substantial portion of the population under 25years struggling to find meaningful and decent work.Structural unemployment,driven by a mismatchbetween labor force skills and job market requirements,exacerbates the issue,alongside an underdevelopedprivate sector. Socioeconomic disparities contribute to unequal access to opportunities,particularly for historicallydisadvantaged and vulnerable communities.Moreover,the dominance of the informal sector,where a largepercentage of the workforce engages in activities such as street vending and small-scale agriculture,provides subsistence income but lacks job security,benefits,and legal protections,thus limiting its capacityto address poverty and productivity.Inadequate infrastructure,limited interventions to develop humancapital,and the migration of talent to more attractive job markets abroad,known as “brain drain”,furthercompound the problem. We therefore support the three-part approach of focusing on establishing the infrastructure foundation forjobs,working with Governments to strengthen governance,support business enabling policies and mobilizeprivate capital.We welcome the establishment of the High-Level Advisory Council on Jobs agenda andsupport the priority sectors identified namely agribusiness,energy,healthcare,infrastructure,value-addedmanufacturing,and tourism.We look forward to how this process will contribute to effective job crea

FAQs

What jobs theme did the constituency welcome at the 111th Development Committee meeting?

The constituency welcomed the overarching theme “Jobs: The Path to prosperity,” viewing it as timely to target root causes of poverty through WBG-supported policies and programs for more, better, and quality jobs.

What are the main employment barriers identified for Africa?

Key barriers include youth unemployment, structural unemployment from skills mismatches, slow economic growth and political instability, regulatory burdens on entrepreneurship, inadequate affordable energy access, low industrialization, informality without job security or protections, and brain drain.

Why does the statement focus on energy access for job creation?

Reliable and affordable energy is presented as a lifeline that enables education, healthcare, economic growth, women’s and girls’ opportunities, market access and online learning, higher agricultural outputs, and stronger policy space for mobilizing domestic capital and attracting investors.

Jul 19, 2026

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