The Chartered Institute of Bankers of Nigeria (CIBN) has disclosed that it is partnering the Lagos State Government and other state governments to establish youth innovation hubs to help young Nigerians develop their technological, innovative and entrepreneurial skills.
provide young Nigerians with opportunities to develop innovative ideas and projects.
s emphasised that the nation’s young population, which accounts for over 60 per cent of its total demographics, remains an underutilised economic asset that must be strategically harnessed to accelerate sustainable growth.
Speaking in Lagos on Wednesday at the CIBN Generation Next Forum 4.0, themed ‘Building Tomorrow Today: Youth as Catalysts of a Digital, Inclusive, and Sustainable Economy,’ the President and Chairman of Council, CIBN, Dr Dele Alabi, urged policymakers and private sector leaders to actively build capacity among young Nigerians rather than treating their demographic weight as a passive statistic.
Alabi noted that while emerging and developed markets across the globe typically leverage burgeoning youth demographics to drive rapid economic expansion, Nigeria has yet to fully optimise this potential.
He explained that the institute’s strategic direction, anchored on its “IMPACT Vision,” prioritises generational inclusion alongside gender and geographical inclusion.
He said, “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.”
Highlighting the entrepreneurial capabilities of young Nigerians, the CIBN boss pointed out that out of Africa’s nine tech unicorns, startups valued at over $1bn, five are located in Nigeria, with roughly 80 per cent of those Nigerian unicorns led by young founders.
He noted that this track record refutes negative stereotypes and proves that Nigerian youths are innovative, hardworking and capable of generating substantial wealth.
Addressing the leadership and workforce requirements for young professionals, the Managing Director and CEO of Lotus Bank, Dr Isiaka Ajani-Lawal, underscored 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.
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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.
Echoing this focus on practical empowerment, the NYSC Lagos State Coordinator, Christiana Salmwang, 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.
Salmwang said, “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.”
To operationalise these goals, the CIBN announced a partnership with the Lagos State Government to establish a dedicated innovation hub where young innovators, including corps members, can showcase their skills, access mentorship and develop technical solutions in an enabling environment.
Representing the Lagos State Governor, Babajide Sanwo-Olu, the State Commissioner for Finance, Abayomi Oluyomi, reaffirmed the administration’s commitment to youth-led development under its THEMES Plus agenda.
He emphasised that the state continues to expand job creation initiatives, grant funding and tech infrastructure through platforms like the Lagos State Employment Trust Fund, ensuring young entrepreneurs receive the tools necessary to scale their ventures and lead economic transformation.
“If you look at the youth population in Nigeria within a certain age range, they account for more than 60 per cent of the total population. Any country, particularly in Africa, that jokes with its youth population is asking for trouble.
“We know that youths are the solution to tomorrow, but that starts today. We are committed to making sure that our youth are adequately trained, exposed and funded so they can express the best in themselves,” Oluyomi declared.
