Nigerian Students Make History In Groundbreaking Economic Impact Challenge

Following an extensive assessment by proficient judges, Africa’s Future Economic Leaders (AFEL) has announced the exceptional winners of its inaugural Economic Impact Challenge.

Recall the AFEL Economic Impact Challenge awarded prizes in two categories: the Prize for Economic Policy Advocacy and the Prize for Outstanding Research and Presentation. This categorization aimed to educate students about the importance of advocating for policy implementation and to challenge them to think critically on how continental policies can benefit local businesses.

In Category one, with the theme: ‘Policy Advocacy and Implementation’, University of Ibadan, emerged first position, followed by Obafemi Awolowo University and Babcock University at third position.

In Category two, with the theme: ‘Policy Research and Presentation’, University of Ibadan emerged first place; Obafemi Awolowo University emerged 2nd place and Adekunle Ajasin University emerged 3rd Place.

This challenge, held from October to December 2023, not only recognises the importance of youth-driven solutions but also highlights AFEL’s dedication to promoting economic awareness and innovation across the African continent.

In a statement, made available to THISDAY, the co-convener of the Initiative, Awakessien Mekitmfon explained that the AFEL’s Economic Impact Challenge, is aimed at encouraging research, creativity, and active participation among economics and law students, with a focus on enhancing their knowledge and capacities regarding continental policies such as the African Continental Free Trade Agreement (AfCFTA).

According to Mekitmfon, “AFEL’s programmes and initiatives align with the United Nation’s Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063 to create the desired future for Africa.”

The challenge’s first cohort targeted universities in the South-Western region of Nigeria, bringing together talented individuals from eight different universities, Mekitmfon disclosed, adding that, each participant represented their university with unique visions for Africa’s economic future.

“The project’s objective emphasised promoting youth participation in the economy, in line with SDGs 8 and 9, and achieving gender parity. Out of the 53 Nigerian tertiary institution students who directly participated in the project, 30 were females and 23 were males. The students representing these schools displayed a profound understanding of economic challenges and also presented innovative solutions that aligned with AFEL’s vision of supporting youths in driving economic development in Africa,” the co-convener revealed.

During the feedback session, the coordinating team expressed gratitude to the participants for their valuable contributions, while applauding the students representing these schools for displaying a profound understanding of economic challenges and also presented innovative solutions that aligned with AFEL’s vision of supporting youths in driving economic development in Africa.

The participants commended the organising team for providing a platform that promotes a practical understanding of complex economic concepts beyond their regular educational setting.

In the first quarter of 2024, the Economic Impact Challenge will be extended to youths in the rest of Nigeria’s geopolitical zones through their universities, demonstrating the program’s commitment to creating a sustainable impact in Africa.