The Chartered Institute of Bankers of Nigeria (CIBN) has disclosed that it will partner the Lagos State Government and other state governments to establish youth innovation hubs to help young Nigerians develop their technological, innovative and entrepreneurial skills.
This was revealed by the President and Chairman of Council of the CIBN, Dele Alabi on Wednesday at the Institute’s Generation Next Forum 4.0 themed ‘Building Tomorrow Today: Youth as Catalysts of a Digital, Inclusive, and Sustainable Economy.’
Alabi explained that the Institute’s decision to establish the hubs in partnership with the state governments was based on the nation’s underutilised and overwhelming youth population of over 60 per cent. According to him, Nigeria’s sizeable youth population figure if put to judicious use as obtainable in other countries of similar demographics can help push for sustainable growth across all sectors of the economy.
“If you look at what is happening in Nigeria today, young people constitute about 60-something per cent of the population. This ought to be an asset for us.
“In other markets with a burgeoning youth demographic, countries typically leverage that population to significantly grow their economies. Unfortunately, we have not yet fully optimised that potential in Nigeria, and as the CIBN, we want to galvanise that effort.
He noted that out of about nine unicorns in Africa, Nigeria is home to five, making it imperative for the Institute to create the innovation hubs to further give young Nigerians unhindered access to technology and innovation. According talks for the establishment of the hubs, starting with Lagos are already at an advanced stage as Governor Babajide Sanwo-Olu has made clear commitments during the Institute’s courtesy call on him last Tuesday.
“Let me also share with you, distinguished ladies and gentlemen, that just last week, we paid a courtesy call on the Governor of Lagos State. And we highlighted the need for us to encourage, empower and build more capacity for our teeming youth population. So we proposed programmes that will give them leverage, stimulate and motivate them to deliver to and beyond expectation.
The Governor couldn’t agree less with us. He said our proposition actually was actually in synergy with strategy of the Lagos State Government. So we agreed on building innovation hubs where the youth, people like yourselves, the corps members will have the opportunity to display your skills and competencies in a free and conducive environment. And the Governor of Lagos State has agreed that we’re going to provide that space for you. And we’re going to start in Lagos State and move to the other states,” he said.
In his goodwill message, Governor Babajide Sanwo-Olu ably represented by the Commissioner of Finance, Abayomi Oluyomi, said the future Nigeria seeks is already being shaped by young people developing digital solutions, running businesses online, driving fintech innovation and working for global companies.
Oluyomi said government must, however, create an enabling environment where young Nigerians can turn their ideas and skills into sustainable businesses and jobs.
He highlighted various Lagos initiatives, including the disbursement of more than N15 billion in affordable loans to over 20,000 micro, small and medium enterprises through the Lagos State Employment Trust Fund, as well as support for startups and training in software development, cybersecurity and artificial intelligence.
“We are also strengthening the position of Lagos as a centre for innovation, fintech, digital enterprise and technology-driven businesses. Our ambition is clear: we want Lagos to remain a place where a young person with a good idea can find the talent, infrastructure, market and support needed to turn that idea into a viable business.
But let me say something directly to the young people in this room. Do not wait for someone to hand you the future. Start building it. Do not measure success only by the size of your first salary or the title on your business card. Measure it by the problems you are able to solve, the value you create, and the people whose lives become better because of what you do,” he said.
Also speaking at the Forum, Managing Director and CEO of Lotus Bank, Dr Isiaka Ajani-Lawal tasked youth on essential leadership tips including the critical role of habits, execution and continuous learning in turning potential into tangible market value.
“Our reputation is built by repetition, not by a one-time effort. You can determine if someone has a reputation for being lazy, hardworking, or excellent by what they do repeatedly, not by a single decision,” Ajani-Lawal stated.
He defined execution as “the gap between discussion and behaviour, or the gap between an idea and its delivery,” adding that young professionals must master practical capabilities to bridge that gap and build world-class execution skills.
The Lagos State Coordinator of the National Youth Service Corps (NYSC), Christiana Salmwang in her speech commended the Institute for providing a platform that prepares corps members and young professionals for the demands of a rapidly evolving digital economy.
She stressed that corps members must actively acquire technical capabilities and go beyond theoretical concepts to drive national development.
“The digital economy presents enormous opportunities in technology, finance, entrepreneurship, innovation and the creative industries. But to take advantage of these opportunities, you must be willing to continuously learn, adapt, innovate and acquire relevant skills.
“Do not leave this venue with only beautiful ideas; leave with a commitment to take at least one practical step that will improve your skills, career, business or community,” Salmwang charged the corps members who were present in large numbers.
Founder of Chess in Slum Africa, Tunde Onakoya also encouraged participants to not allow their challenges limit their growth and aspiration in life.
“You can do great things from that your humble background. Do not lose your essence to the extent of focusing on the challenges alone while ignoring the opportunities,” he said.
