The value of financial literacy cannot be overstated in a world where the youngsters are a statistical at an all-time high, especially for the younger generation in Nigeria. For a country that remains the spirit of Africa’s economic powerhouse, that, lies a critical issue of ensuring the financial independence of its burgeoning children population.
Nigeria, pulsating with vibrant energy, stands at the edge of enormous potential. However, this possibility remains largely undiscovered, shrouded by the darkness of financial poverty. This information space prevents people from utilizing the opportunities for financial growth and prosperity, perpetuating cycles of poverty.
Over 60% of the world’s population is made up of people under the age of 30 and the country has one of the largest youth groups. This statistical income provides a distinctive benefit for economic development and innovation. But, the realization of this possible springs on addressing key issues such as employment, limited access to quality education, and financial poverty.
There are many obstacles to achieving economic education in Nigeria. Thousands are prohibited from participating in the formal sector because of limited access to formal financial companies, particularly in rural areas. Additionally, ingrained cultural norms and cultural attitudes towards cash pose fearsome challenges. Traditional practices frequently place physical assets before present financial instruments, thereby perpetuating a period of distrust and reluctance toward financial institutions.
Only 38% of Nigeria’s adult population is financially literate, according to a survey conducted by the Central Bank of Nigeria (CBN), which underscores the urgent need for targeted interventions to close this gap.
However, amidst these issues, rays of hope penetrate through the darkness. Brands like Meristem Securities Limited, a leading company in the world of money markets, and initiatives like the annual Global Funds Week (GMW) help bridge the gap, revealing opportunities for Nigerian children to become financially independent and uniting stakeholders from different industries to share a common goal. As we commemorate GMW 2024, it’s paramount to accept economic information’s important role in shaping Nigerian teens’ potential.
The need to educate Nigeria’s youth on the tools and knowledge needed to navigate the complicated financial landscape has never been more urgent as we prepare for Global Money Week 2024. Amidst this call to action, Meristem emerges as a beacon of hope, spearheading revolutionary efforts to maintain financial literacy among the world’s children.
Meristem has been providing its customers with cutting-edge financial solutions and services for more than 20 years. The belief that economic empowerment should begin at a young age is key to its mission. Through a variety of initiatives and programs, the company has actively promoted financial literacy in younger people, recognizing it as an underlying foundation for long-term economic success.
The leading economic superpower has plans to unveil Extra by Meristem, a free-to-use youth-focused investment and entrepreneurship platform, which represents a major milestone in Meristem’s commitment to youth empowerment. In order to help create a financially knowledgeable community and a young population with the essential leadership skills, the leading economic powerhouse has put up plans to help create a youth-focused investment and entrepreneurship platform.
The motivation behind MORE is the desire to inspire the aspirations of young and ambitious people by granting them the information, training, and skills they need to get them closer to where they want to be financially. The platform’s investment strategy aims to increase young people’s financial literacy by enhancing, enhancing, and transforming their potential for wealth creation and opportunities for sustainability.
Additionally, the MORE by Meristem platform has carefully selected learning opportunities to help young people acquire knowledge and abilities to practice investing both locally and internationally. These opportunities are geared toward wise investing and creating a strong wealth portfolio to ensure a bright future for both myself and the upcoming generations.
More by Meristem empowers young people to take control of their financial futures by promoting financial literacy and granting them access to investment opportunities. More instills a mindset of financial resilience, giving users the tools and confidence needed to navigate economic uncertainty and achieve long-term prosperity.
With the click of a few buttons on a mobile device, users can adopt another tech-powered platform called Wealthbuddy to help people save, invest, and pay bills from the comfort of their homes. The platform affords clients the luxury of making great investments (mutual funds, dollar investments, and fixed deposits) and saving (target, fixed, and group) choices while attracting great interest rates.
Nigeria’s youthful population is not just a demographic statistic, it’s a dynamic force driving innovation, entrepreneurship, and social change. Young Nigerians are at the forefront of shaping the country’s economic landscape, from tech startups to creative industries.
Stakeholders must reaffirm their commitment to nurturing a generation of financially empowered youth who are not just consumers but also creators of wealth as we consider the significance of Global Money Week 2024. The foundation for a prosperous and inclusive society where every person has the opportunity to realize their full potential is laid by funding their financial education and providing them with the necessary support and guidance.
These initiatives encourage young Nigerians to take control of their financial futures and become the architects of their destiny, causing a shift in the direction of financial empowerment.
Together, this week and beyond, it is imperative for us to commit to promoting financial literacy, inclusion, and accessibility for all Nigerian youth, because we can.