Solomon Enilolobo, a Nigerian entrepreneur, advocated for lower interest rates for youth entrepreneurs at the 2025 Spring Meetings of the World Bank in Washington, D.C.

He underscored the obstacles that entrepreneurs encounter when attempting to obtain credit at a reasonable price.

Enilolobo advocated for interest rates in the single digits to encourage growth and innovation.

Young entrepreneurs continue to confront substantial obstacles in obtaining financing. The capacity to expand operations is restricted by the high cost of borrowing.

The necessity of financially supportive policies is underscored by Enilolobo’s appeal.

He suggested the implementation of programs that are specifically designed to provide funding. These initiatives would offer targeted assistance to enterprises that are led by young people. It is imperative that financial institutions and governments collaborate.

Mentorship and capacity development were also prioritized. The success rates of entrepreneurs can be improved by providing them with appropriate skills and guidance. These support mechanisms can be facilitated by public-private partnerships.

The message conveyed by Enilolobo resonated with the attendants of the meetings. The significance of adolescents in economic development is increasingly acknowledged.

The empowerment of youthful entrepreneurs is considered essential for the promotion of sustainable development.

In order to resolve these issues, policy reforms are being contemplated. Lending frameworks are currently being evaluated by financial regulators and central banks.