In a call for stronger support for young innovators, The Alternative Bank is urging stakeholders to provide critical tech resources and mentorship to Nigeria’s budding tech talent. The Bank made this appeal during the third annual socio-economic summit of the Jericho Businessmen Club (JBC), which brought together business leaders, policymakers, and academics to explore sustainable economic models and discuss how to close the widening digital-skills gap among the country’s youth.
As a non-interest lender, Alternative Bank emphasized that true, long-term development depends on deliberate investment in human capital. The institution highlighted the need for ecosystem support, including access to funding, tools, and guided mentorship to help young Nigerians convert their technological ideas into scalable, world-class innovations.
According to Korede Demola-Adeniyi, Executive Director (South) at Alternative Bank, “Technology is the most potent equaliser in modern commerce, and by investing in the technological upliftment of our youth, we are future-proofing our economy.” He further stressed that the bank aims to provide not only financial alternatives, but meaningful opportunities so local talent can compete globally.
To translate this vision into action, the bank plans to roll out specially-tailored non-interest financing packages for tech entrepreneurs and to support vocational skills programmes. These initiatives are expected to transform local innovation hubs into centres of excellence capable of delivering world-class digital solutions.
Crucially, the bank sees this push as aligned with Nigeria’s broader shift away from oil-dependency. By nurturing a vibrant tech sector, the effort could help diversify national revenue sources, attract foreign direct investment, and build a knowledge-driven economy, all contributing to enhanced long-term economic resilience.
Moreover, by equipping young people with in-demand digital and vocational skills, the initiative could reduce youth unemployment and stimulate the growth of high-value service industries across sectors. The bank believes such outcomes are central to building a stable, sustainable economy that delivers long-term growth.
Supporting youth tech empowerment isn’t unique to Alternative Bank. Other financial institutions such as Unity Bank and Wema Bank have also launched programs aimed at boosting digital literacy, innovation, and entrepreneurship among young Nigerians, underscoring a growing consensus that digital skills and youth-led startups must be part of Africa’s economic future.
For Nigeria, which has one of the youngest populations globally and where micro, small and medium enterprises (MSMEs) contribute nearly half of national GDP, such investments in youth-led tech could be transformative.
Boosting youth tech empowerment could help Nigeria diversify away from oil, reduce youth unemployment, and grow high-value services, increasing foreign investment and strengthening GDP resilience. Strengthening digital skills among young people is not just social policy; it’s a strategic economic pivot toward sustainable growth.
