The Federal Government of Nigeria has partnered with Nigerian commercial bank, Wema Bank, to establish innovation hubs across States in the country, aimed at empowering one million youths with relevant digital skills.
The initiative known as FGN/ALAT Digital and SkillNovatiob Hub, was agreed upon during a meeting between representatives of the bank and the Vice President of Nigeria, Kashim Shettima in Abuja.
Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the initiative is designed to revolutionize the way young entrepreneurs and employees interact with technology, entrepreneurship, and skill development.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
In his words,
“The Digital & SkillNovation Hub reflects our dedication to fostering a thriving ecosystem that empowers Tech-Savvy Youth Entrepreneurs, Youth Entrepreneurs by Nature, and Young Employees, driving economic growth and sustainable progress across the nation. This centralized platform will integrate cutting-edge digital tools, technologies, and resources to streamline digital activities, collaboration, and information sharing.”
The Digital and SkillNovation Hub will first open in Lagos and Borno states, with Kastina, Cross River, Anambra, Oyo, and Kano states following suit.
The initiative is aimed at providing financial solutions, training, and access to strategic partnerships, empowering young employees to become an integral part of Nigeria’s workforce, especially those deployed through the National Youth Service Corps (NYSC).
Under the scheme, grants will be provided through a collaborative arrangement between the Federal Government and WEMA Bank, allocating N500 million to be given to SMEs and Techpreneurs.
The FGN/ALAT Digital SkillNovation hubs will focus on training one million young adults in software engineering, product management, business analysis, cloud computing, and product design, using specialized resources.
Wema Bank is one notable Nigerian bank that has continued to be at the forefront of equipping Nigerian youths with relevant digital skills. The bank is known for its commitment to innovation and empowerment, with proactive approaches to equipping youths.
Notably, Wema Bank has always come up with initiatives aimed at providing youths with essential skills for the future, empowering them to embrace the digital age and thrive in an increasingly technology-driven world.
The Bank has implemented several initiatives and programs to promote digital skills among its customers and the wider community. These initiatives include;
Digital Literacy Programs: The bank has organized workshops, webinars, and training sessions aimed at improving the digital literacy of its customers. These programs help customers become more comfortable with using digital platforms and services for their banking needs.
Financial Inclusion Initiatives: To promote digital skills and financial literacy, Wema Bank initiatives are aimed to provide financial education to underserved communities, encouraging them to adopt digital banking services.
SME’s Support: The bank is committed to empowering and educating Small and Medium Enterprises (SMEs) with skills and knowledge of current business trends.
The SME-centric Wema Bank has a rich history of supporting SMEs and has, over the years, introduced several initiatives in the SMEs segment Like ALT for Business platform, funding unique start-ups and creatives through its Hackaholics program, SME Business School, SME loan offerings, and many more.