The Alternative Bank invests in youth tech innovation, providing resources and mentorship to empower Nigeria’s young innovators

The Alternative Bank has called for increased provision of technology resources to young innovators, emphasising mentorship, ecosystem support, and access to critical tools.

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The announcement was made during the third Annual Socio-Economic Summit organised by the Jericho Businessmen Club in Lagos.

Korede Demola-Adeniyi, Executive Director (South) of The Alternative Bank, stressed that investments in youth-focused technology development are essential for Nigeria’s long-term economic resilience.

“Technology is the most potent equaliser in modern commerce, and by investing in the technological upliftment of our youth, we are future-proofing our economy,” he said.

Demola-Adeniyi highlighted plans to launch bespoke non-interest financing schemes tailored for technology entrepreneurs and vocational skills acquisition programmes.

The initiative aims to transform local innovation hubs into centres of excellence capable of producing world-class digital solutions.

The Alternative Bank emphasised that its interventions align with Nigeria’s broader macroeconomic objectives, including diversifying revenue sources away from crude oil and strengthening emerging sectors.

By equipping young people with digital and vocational skills, the bank seeks to reduce youth unemployment and stimulate high-value service creation across multiple industries.

“The Alternative Bank believes in providing alternatives not just in finance, but in opportunity, ensuring local talent has the tools and environment to compete globally,” Demola-Adeniyi added.

The summit brought together business leaders, policy influencers, and members of the academic community to discuss sustainable economic models and the widening digital skills gap.

The bank affirmed that collaboration with private-sector partners, academic institutions, and industry associations is crucial for closing the digital divide and preparing Nigeria’s young population for the future of work.

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By supporting innovation, entrepreneurship, and sustainable development, The Alternative Bank aims to position Nigerian youth as key contributors to the country’s digital transformation and a competitive player in the global technology landscape.