Improved productivity‘II add $1.4trn to Africa’s GDP – Expert
By Grace Alegba
Mr Michael Ikpoki, Chief Exevutive Officer (CEO) of Africa Context Advisory Partners, says improved productivity across the continent can add $1.4 trillion to Africa’s Gross Domestic Product (GDP).
Ikpoki, a former CEO of MTN Ghana and MTN Nigeria, said this at the Premium Times Employability Summit 2025 in Lagos.
The event, with the theme, “Converting Nigeria’s Demography into Assets”, was organised in partnership with Seven-Up Bottling Company.
Ikpoki urged leaders and managers to harness the cross-generational potential of Nigeria’s workforce and local businesses to drive greater productivity.
On the 2023 report, he noted that productivity across African sectors continued to be hampered by power and infrastructure deficits.
“To achieve the level of productivity and employability we need, we must harness cross-generational benefits,” he said.
According to him, employment is not merely about job creation but about the economic value generated through those jobs.
“It’s the productivity of workers and businesses that translates into GDP. As we create more quality jobs, and as more people perform better in their roles, creating value, companies grow.
“SMEs grow, individuals prosper. cumulatively, the economy expands. Productivity is key,” he explained.
Ikpoki also spoke on the importance of understanding generational dynamics.
He outlined the distinct attributes of four generations, from the 1950s to millennials, and how effective collaboration across age groups could boost workplace output.
“If we can improve productivity, we can potentially add about $1.4 trillion to Africa’s GDP. Currently, Africa’s GDP is around $2.8 trillion to $2.9 trillion,” he said.
He emphasised that enhanced productivity would support industrial expansion, intercontinental trade, and economic diversification, especially when driven by digital transformation.
“From an African standpoint, accelerating productivity requires accelerating digitisation,” Ikpoki added.
He stressed the urgent need to grow larger indigenous companies in Nigeria, which would stimulate the economy through extended value chains and expanded employment opportunities.
“We need to build bigger companies within our environment. Interestingly, Africa has about 345 companies with annual revenues exceeding one billion dollars. Roughly 66 per cent of these are home-grown. However, over 40 per cent are in South Africa, while only 7 per cent are in Nigeria,” he said.
Highlighting the economic importance of productivity, he noted that Nigeria’s GDP per capita has dropped from about $2,200 a decade ago to less than 900 dollars today.
Ikpoki said,“It boils down to the kind of environments and workplace cultures we build to get the best out of people.
“For us to achieve the productivity and employability we need, we must embrace these cross-generational opportunities.
“The key question for leaders and managers is: how do we do this constructively?”
Earlier in his opening remarks, Mr Oladeinde Olawoyin, Business, Energy and Economy Editor, Premium Times, thanked Seven-Up Bottling Company for sponsoring the summit.
He described the summit as a vital platform for addressing one of Nigeria’s most urgent challenges: youth employability.
“With a young and rapidly growing population, Nigeria stands at a crossroads. We must urgently convert our demographic strength into productive, inclusive economic assets,” Olawoyin said.
Panelists at the event discussed strategies for unlocking opportunities in the Creative Economy, Artificial Intelligence, Agriculture, and other underexplored sectors for youth employment.
Another panel session addressed the theme, “Cross-Generational Workforce and Its Effects on Productivity”, offering insights into how Nigeria could harmonise its diverse workforce for greater economic output.
The summit ended with calls to action for stakeholders to reimagine the future of work and take bold, coordinated steps toward building a resilient, inclusive, and opportunity-rich Nigerian economy. (NAN)(www.nannews.ng)
Edited by Remi Koleoso/Olawunmi Ashafa
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