The Chartered Institute of Bankers of Nigeria (CIBN) has issued a call to action, emphasizing that Nigeria's young population accounting for more than 60 percent of the nation's total demographic remains an underutilized asset that must be strategically developed to accelerate sustainable economic growth. Speaking in Lagos at the CIBN Generation Next Forum 4.0, themed "Building Tomorrow Today: Youth as Catalysts of a Digital, Inclusive, and Sustainable Economy," CIBN President Dr. Dele Alabi urged policymakers and private sector leaders to actively build capacity among young citizens rather than viewing demographic figures as mere passive statistics.
Alabi pointed out that while other emerging and developed global markets regularly leverage burgeoning youth demographics to drive rapid economic expansion, Nigeria has yet to fully optimize this potential. To help bridge this gap, CIBN’s strategic direction anchored on its "IMPACT Vision" prioritizes generational inclusion alongside gender and geographical development. Highlighting the proven entrepreneurial capabilities of young Nigerians, Alabi noted that out of Africa’s nine tech unicorns (startups valued at over $1 billion), five are located in Nigeria, with roughly 80 percent of those firms led by young founders. This track record, he stressed, refutes negative stereotypes and proves that Nigerian youths possess the innovation and drive needed to generate substantial economic wealth.
Building on the focus of empowering young professionals, Dr. Isiaka Ajani-Lawal, Managing Director and CEO of Lotus Bank, underscored the role of consistent execution and continuous learning in transforming raw potential into tangible market value. He defined execution as the gap between discussion and behavior, or the distance between an idea and its delivery, urging young professionals to build practical, world-class capabilities. Supporting this message, NYSC Lagos State Coordinator Christiana Salmwang encouraged corps members and young innovators to actively acquire technical skills in technology, finance, and entrepreneurship, going beyond theoretical knowledge to capture opportunities in the evolving digital economy.
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To translate these discussions into practical action, CIBN announced a new partnership with the Lagos State Government to establish a dedicated innovation hub where young innovators and corps members can access mentorship, hone technical skills, and build practical solutions. Representing Lagos State Governor Babajide Sanwo-Olu, State Commissioner for Finance Abayomi Oluyomi reaffirmed the administration's commitment under its THEMES Plus agenda, highlighting that state platforms like the Lagos State Employment Trust Fund will continue expanding access to funding, training, and tech infrastructure to ensure young entrepreneurs have the tools required to drive economic transformation.
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