PalmPay Nigeria has reiterated its commitment to empowering young Nigerians with digital, financial and employability skills, saying targeted investment in the country’s youth population is critical to building a more productive and inclusive digital economy.

The fintech company made the commitment yesterday to mark International Youth Day, against the backdrop of growing concerns over the skills gap confronting young Nigerians seeking to participate in an increasingly technology-driven economy.

According to UNICEF, only about seven per cent of young people aged between 15 and 24 in Nigeria possess basic information and communication technology (ICT) skills, underscoring the need for greater investment in digital education and workplace readiness.

For PalmPay, the challenge goes beyond creating jobs, as it requires equipping young people with the knowledge and practical experience needed to participate meaningfully in the digital economy.

Managing Director of PalmPay Nigeria, Chika Nwosu, said Nigeria’s youthful population remained one of the country’s biggest economic assets, but unlocking its potential would require greater access to skills, knowledge and opportunities.

“Nigeria’s young population is one of its greatest assets, but unlocking its potential requires access to the right skills, knowledge and opportunities,” Nwosu said.

“At PalmPay, we are committed to equipping young Nigerians to learn, earn and thrive in an increasingly digital economy. We believe that investing in young people today is an investment in a stronger, more inclusive Nigeria.”

The company said its youth-focused interventions cut across financial literacy, employability, digital skills and access to professional opportunities.

One of its initiatives, the Graduate Trainee Programme, provides young graduates with opportunities to acquire workplace experience, develop professional competencies and build careers within the rapidly evolving technology and financial services sectors.

PalmPay said the programme was designed to bridge the gap between academic training and workplace requirements by exposing participants to practical experience and professional development.

The company is also deploying financial education as part of its youth empowerment strategy through its NYSC Financial Literacy Programme.

The initiative provides young Nigerians serving under the National Youth Service Corps (NYSC) with practical knowledge on saving, budgeting, responsible spending and protecting their finances as they transition into professional and adult life.

PalmPay said developing sound financial habits at an early stage could help young people make better decisions as they begin earning incomes and taking greater responsibility for their financial futures.

The company’s youth initiatives also include Purple Woman, which focuses on supporting young women through internships, learning opportunities and professional development.

The programme is aimed at promoting greater participation of women in the technology sector by providing access to experience, professional networks and career opportunities.

PalmPay said the initiatives reflected its belief that youth empowerment should go beyond financial assistance or one-off interventions to include the knowledge, exposure and opportunities required for young people to apply their skills productively.

The company noted that a graduate who receives workplace exposure could eventually become a business leader, while a young person who develops sound financial habits early could carry those lessons into his or her career and personal life.

Similarly, it said providing young women with access to professional opportunities could help them acquire the confidence, experience and networks needed to create opportunities for others.

The development comes as the Federal Government, through the Federal Ministry of Youth Development, continues to place emphasis on skills development, job creation, entrepreneurship and social inclusion as part of efforts to address challenges confronting the country’s youthful population.

For the wider economy, stakeholders say closing Nigeria’s digital skills gap will be critical to ensuring that the country’s large youth population becomes an economic advantage rather than a source of pressure on the labour market.

As businesses increasingly adopt digital technologies, young Nigerians without relevant digital and professional skills risk being excluded from emerging employment and entrepreneurial opportunities.

PalmPay said the private sector had an important role to play in complementing government efforts by providing practical skills, workplace exposure and access to opportunities.

The fintech company reaffirmed its commitment to investing in young Nigerians and supporting efforts to build an economy where young people are not only counted as part of the country’s demographic strength but are equipped, employed and empowered to contribute to national development.