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The Chairman of the Nigerian Exchange Group, NGX, Alhaji (Dr) Umaru Kwairanga, has called on Nigerian youths to shun the “japa syndrome” and instead build wealth at home through entrepreneurship, saying the country’s demographic advantage must be converted into productive capacity.
Kwairanga made the call on Tuesday while delivering a goodwill message at the University of Abuja Faculty of Social Sciences 2026 Annual Youth Week.
The event, held at the university’s Gwagwalada campus, was themed “Youth Economic Intervention, Entrepreneurship and Wealth Creation in Nigeria. Japa Syndrome is Not the Solution.”
Addressing hundreds of students and faculty members, the NGX chairman painted a stark picture of Nigeria’s employment reality.
“Through the mercy of the Almighty Allah, I am privileged to sit on the boards of several companies and witness first-hand the competition for the openings that come up now and then,” he said.
“For every vacancy we advertise at the Nigerian Exchange Group, we receive thousands of applications. That is also the case for every big public company, ministry, department or agency of government you can think of.”
He noted that thousands of graduates remain either unemployed or underemployed, chasing a limited pool of white-collar jobs. For many, the alternative has been migration abroad, popularly known as _japa_. But Kwairanga warned that the option is expensive and often fails to deliver the outcomes people expect.
“So what do we do, as the country’s youth population keeps increasing by the day?” he asked.
The answer, he said, lies in entrepreneurship. Drawing comparisons with China, Japan, Taiwan, Vietnam, Germany and the United States, Kwairanga said the fastest-growing economies did not rely solely on natural resources but on the ingenuity of their citizens, innovative technology and access to capital that fueled small and medium-scale enterprises.
“Their strength does not lie in God-given natural resources but in the thousands of businesses set up by their citizens that are doing well and growing,” he explained. “The challenge we must confront and overcome in Nigeria is building that entrepreneurial spirit into our youths right from early ages so that you do not graduate only to look for paid employment, but to set up thriving businesses that will employ others.”
Kwairanga stressed that starting a business in Nigeria is possible, despite the common hurdles of financing, erratic electricity and trust deficits. He also cautioned today’s youth against distractions such as social media and get-rich-quick schemes like pyramid schemes and cyber fraud.
“How you confront and overcome such challenges will determine the success or failure of your business,” he said. “I can assure you that if you, as a young budding entrepreneur, work hard, stay focused and disciplined, you will succeed in business in Nigeria.”
The NGX chairman broke down the entrepreneurial journey into practical steps for students. It begins, he said, with identifying a problem in one’s immediate environment or finding a way to add value to an existing product or service. The initial capital, he added, should come from personal savings and support from family and friends.
“To be an entrepreneur, you should first have a culture of savings and some knowledge of money management,” he advised. “More elaborate capital raising from private equity funds, government agencies dedicated to SMEs, or even issuing shares or debt can come later when you have grown the business.”
He also urged students to treat their ventures as separate legal entities from the outset and to prepare basic business plans as roadmaps. For those who dream bigger, Kwairanga said growing a company to the point of listing on the Nigerian Exchange is achievable with consistency and structure.
In what he called a “short scenario,” Kwairanga posed a direct question to the students: If given ₦50 million today, would they use it to _japa_ to the US or UK, invest it in the Nigerian stock market, or set up a small business near the university in Gwagwalada?
His verdict was clear. “I can assure you that the last two options will give you a much better payoff, so japa is not the best solution,” he said.
He emphasized that wealth creation is neither accidental nor instant. “It is structured, intentional, and often intergenerational in nature. It is built through consistent value creation, disciplined investment, and participation in formal systems that reward productivity.”
This, he said, is why NGX continues to advocate for deeper financial inclusion and broader participation in the capital markets as a route to inclusive prosperity.
Closing his address, Kwairanga urged students to see themselves as active drivers of Nigeria’s economic transformation rather than passive beneficiaries of the system.
“Youth economic intervention, entrepreneurship, and wealth creation are not abstract concepts. They are practical tools for shaping the future of this country,” he said. “Nigeria’s demographic advantage will only translate into economic strength if we are able to convert youthful energy into productive capacity and that responsibility lies with all of us.”
“The future we seek will not be imported. It will be built here, by you,” he added, drawing applause from the audience.
Kwairanga’s message resonated strongly at a time when youth unemployment remains one of Nigeria’s most pressing challenges, and when thousands of young Nigerians are leaving the country annually in search of better opportunities abroad.
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