Federal Government Unveils Ambitious Financial Empowerment Program for Nigerian Youth and Women
The Federal Government of Nigeria has officially launched a comprehensive nationwide training initiative designed to equip millions of Nigerians with essential financial skills. This groundbreaking program specifically targets women and youth, aiming to enhance their financial literacy, digital competencies, and investment knowledge to foster sustainable wealth creation within Nigeria's rapidly evolving digital economy.
Massive Scale and Strategic Implementation
The ambitious program has set a target of training 10 million Nigerians across the country, with particular emphasis on empowering women and young people who represent vital segments of the population. According to an official statement released by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, the initiative is being implemented through the Office of the Vice President under the auspices of the Presidential Committee on Economic & Financial Inclusion (PreCEFI), which is chaired by Vice President Kashim Shettima.
Vice President Shettima personally presided over the signing of a Memorandum of Understanding between the Federal Government and six prominent professional bodies that will collaborate on this transformative project. He described the initiative as "a strategic national investment in capacity as infrastructure, which is the human, institutional, and ethical foundation upon which inclusive growth must rest."
Expert Partnerships and Comprehensive Approach
The program will leverage the specialized expertise of six distinguished professional organizations that have committed their resources and knowledge to this national endeavor. These collaborating bodies include:
- The Institute of Chartered Accountants of Nigeria (ICAN)
- Chartered Institute of Bankers of Nigeria (CIBN)
- Chartered Institute of Stockbrokers (CIS)
- National Institute of Credit Administration (NICA)
- Chartered Risk Management Institute (CRMI)
- Nigeria Institute of Innovation and Entrepreneurship (NIIE)
Vice President Shettima emphasized that "financial inclusion is not achieved by access alone, but by competence, trust, and capability," highlighting the program's focus on building practical skills rather than merely providing theoretical knowledge. The implementation strategy will concentrate on several key areas including capacity building, advocacy efforts, digital transformation initiatives, youth empowerment programs, and support for small and medium practitioners across various sectors.
Building Nigeria's Demographic Dividend
The Vice President further articulated the program's broader vision, stating that Nigeria's significant demographic dividend can only be fully realized when young people are equipped with relevant skills and ethical grounding necessary to thrive in a rapidly evolving digital economy. This training initiative represents a strategic investment in human capital development that aligns with the government's economic reform agenda.
Mallam Haruna Nma Yahaya, President of ICAN, publicly applauded the government's economic reforms and pledged the institute's full support for the successful implementation of the program. Meanwhile, Emmanuel Lennox, CEO of WAWU Africa which serves as the technical partner for the initiative, assured stakeholders of their readiness to provide the necessary digital platform and enabling environment for the training activities.
Holistic Financial Inclusion Strategy
Dr. Nurudeen Abubakar Zauro, Technical Adviser to the President on Economic and Financial Inclusion, provided additional context about the program's objectives. He emphasized that true financial inclusion requires equipping both individuals and institutions with the knowledge and tools to utilize financial infrastructure responsibly and sustainably. This comprehensive approach addresses multiple dimensions of financial empowerment beyond basic access to banking services.
The launch of this financial literacy program follows other government initiatives aimed at youth development, including the Nigeria Jubilee Fellows Programme which offers paid internships to fresh graduates across the country. Together, these programs represent a coordinated effort to address unemployment and underemployment while building a more financially literate population capable of contributing to Nigeria's economic growth and stability.
