The President of the African University of Science and Technology (AUST), Prof. Peter Onwualu, has called for ideas, innovation, and knowledge-driven solutions to lead Africa’s economic transformation.
He made the remarks on Monday in Abuja at the opening of the three-day AfricaX Summit themed “Reshaping the Future of Africa through Innovation, Investment and Collaboration.”
Onwualu said Africa has significant economic potential, but unlocking it requires deliberate planning, strategic thinking, and a strong culture of innovation across institutions, industries, and society.
He described innovation as the ability to turn challenges into opportunities for development, noting that the continent is gradually shifting from traditional economic models to knowledge-based systems.
According to him, sectors such as financial technology are improving financial inclusion, agricultural technology is strengthening food security, and health innovations are expanding access to medical services.
He stressed that innovation is now essential rather than optional, adding that it thrives in environments where creativity, experimentation, and collaboration between academia, industry, and government are encouraged.
Onwualu also emphasised the importance of education in addressing national and continental challenges, saying Africa’s future depends on the ability of young people to think critically and solve complex problems.
He highlighted AUST’s “Inspired Innovation Hub” as an example of how students are encouraged to move beyond learning to practical creation, where ideas are developed into real-world solutions.
Through the initiative, he said students are exposed to entrepreneurship, problem-solving, and emerging technologies, enabling them to become job creators rather than job seekers.
He added that building a strong innovation culture contributes directly to economic growth by developing a new generation of thinkers and problem-solvers.
The AUST president further noted that governments must provide enabling policies and investment frameworks, while the private sector supports funding and scaling of innovative ideas.
He also called on academic institutions to continually update their curricula to reflect global technological changes.
Onwualu said meaningful progress can only be achieved when government, industry, and academia work together, each playing its part in driving development.
He added that Africa’s challenges require locally developed solutions rather than imported models that fail to reflect the continent’s realities.
Also speaking, Chairman of the AfricaX Summit Organising Committee, Kingsley Ogwudu, said Africa’s large youth population, natural resources, and growing digital space present major opportunities for economic transformation.
However, he noted that issues such as climate change, inequality, and infrastructure gaps have slowed progress across the continent.
Ogwudu said innovation must be placed at the centre of sustainable development efforts, supported by technology, policy reforms, and creative problem-solving.
He also called for stronger collaboration between governments, private investors, civil society, and development partners to build an ecosystem where ideas can thrive and drive inclusive growth.
The summit continued with discussions focused on investment, innovation, and strategies for accelerating Africa’s long-term development.