A leading voice in Nigeria’s financial sector is intensifying the conversation around human capital investment as the definitive pathway to economic resilience. At the recent Jericho Businessmen Club’s third Annual Socio-Economic Summit, The Alternative Bank, a prominent non-interest lender, championed the urgent provision of specialized technology resources and ecosystem support for Nigeria’s young innovators.
The summit, which gathered influential figures from the business, policy, and academic spheres, zeroed in on two critical challenges: forging sustainable economic models and rapidly addressing the widening digital skills gap among Nigerian youth.
An Equalizer for Global Competitiveness
Korede Demola-Adeniyi, Executive Director (South) of The Alternative Bank, delivered a clear message: technology is the single most potent equalizer in modern commerce. He asserted that strategic investments in youth-focused tech development are not merely beneficial, but essential for Nigeria’s long-term economic footing.
“By investing in the technological upliftment of our youth, we are future-proofing our economy,” Demola-Adeniyi explained. “We aim to provide alternatives not just in finance, but in opportunity, ensuring that local talent has the tools and environment needed to compete successfully on a global scale.”
The bank’s philosophy is anchored in the belief that sustainable nation-building must prioritize deliberate support systems—including mentorship and access to critical resources—that enable young innovators to transform conceptual ideas into scalable, real-world solutions.
Transforming Innovation into Financial Products
Responding directly to the needs identified during the summit, The Alternative Bank announced proactive steps to turn this advocacy into action. The lender plans to explore strategic partnerships to introduce bespoke non-interest financing schemes specifically designed for technology entrepreneurs and vocational skills acquisition programs.
This initiative is aimed at much more than just providing loans; the goal is to transform nascent local innovation hubs into accredited centers of excellence, capable of consistently producing world-class digital solutions.
The bank views its intervention as crucial for aligning with national macroeconomic objectives—specifically, diversifying revenue away from its traditional reliance on crude oil. By creating a vibrant, knowledge-driven technology sector, Nigeria can attract foreign direct investment, reduce youth unemployment, and successfully position itself within the global digital value chain.
The Alternative Bank affirmed its mandate to continue fostering inclusive economic growth and impactful projects, pledging ongoing collaboration with industry associations, academic institutions, and private-sector entities to nurture a platform for sustainable innovation.
