National Wire About Nigerians, Nigerian Business and Other Stories
Nigeria’s youthful population, estimated at 160 million, holds the key to unlocking the country’s economic potential.
However, despite their potential, youth participation in the Nigerian capital market remains low.
Dr. Akeem Oyewale, CEO of Marble Capital Limited, in his paper titled, “Leveraging Modern Technology To Attract Youths To The Capital Market”, delivered last Tuesday, at the 2024 SEC Journalists Academy programme for capital market correspondents, identified lack of trust, public awareness, financial education, and economic challenges as major barriers to youth participation.
To address these challenges, Oyewale advocates for leveraging modern technology to attract youths to the capital market.
Dr. Oyewale further remarked that the Digital platforms, such as mobile apps, can provide easy and accessible trading options, while digital financial literacy programs can educate young people about investment opportunities and strategies.
Oyewale also highlights the importance of promoting youth-friendly investment products, using blockchain and cryptocurrencies for innovative investments, and utilizing digital platforms and social media to reach and engage with the youth audience.
To achieve Nigeria’s $1 trillion economy goal, Oyewale recommends a five-pronged approach:
1. Economic diversification and industrialization
2. Infrastructure development
3. Technology and innovation
4. Human capital and governance
5. Capital market development
“By adopting technologies like Fintech, pushing for policies that facilitate youth participation, developing financial literacy programs, and utilizing digital platforms, Nigeria can empower its youthful population to drive economic growth and achieve the $1 trillion economy goal.
He added that there should be infrastructure development where there should be investment in energy, transport, and urban infrastructure to boost connectivity, cut costs, and drive industrial growth and accelerate digital economy, support tech startups, and leverage AI and blockchain for growth and innovation.
He added that heavy investment should be made in education and healthcare, strengthen governance, reduce corruption, and improve business environment, financial inclusion, and regional trade.
