Tech can solve Nigeria’s youth unemployment – MD BoI

Mr Olukayode Pitan, Managing Director,  Bank of Industry (BOI), has described technology as a panacea to solving some of Nigeria’s problems especially youth unemployment.

Pitan made assertion on Thursday at inauguration of BOI-UNILAG Incubation and Co-Working Hub, located at Faculty of Social Sciences Premises of University of Lagos, Akoka.

“Tech can help solve some of Nigeria’s social problems particularly youth unemployment which has been further exacerbated by pandemic.

“At Bank of Industry, we believe corporate organisations are privileged to be in business at these difficult times need to bring groups of likeminded young individuals together to help create wealth and prosperity for future generations.

“Embracing tech and infusing it business processes will make organisations and the country more competitive.

“And, I dare say, make our people happier through the of better, higher-quality services from both the public and private sectors.

“The tech industry can be a major pillar of a diversified economy.

“ It can create exciting jobs encourage our young people to stay in Nigeria even as they work and compete globally.’’

According to Pitan, BOI opened two tech hubs in 2019, in the states of Lagos and Bayelsa.

“Two additional hubs have been completed in Kaduna and Kebbi.

“The bank is committed to developing similar programmes in many other institutions of learning and states across the country.

“The  bank will also provide funding to support credible and bankable ideas emerge from the tech hubs to them start operations and scale viable businesses.

“At the Bank of Industry, we believe that with the collective will of our young people’s positive passion, the right government policies, mentorship, and private capital, this can become a reality in a short period,” he said.

On the BOI-UNILAG Incubation and Co-Working Hub, Pitan said that the bank was sponsoring the hub in recognition of the talented students within the university.

He said was the need to channel the talents to more productive and impactful ends, rather than social vices like Internet fraud.

“The overall objective is to ensure that the bank’s corporate social generate better benefits for the country.

“We believe a hub like this gives young people the opportunity to create legitimate wealth while adding their own quota to the development of Lagos State, and Nigeria as a .

“Creative spaces like these are filling a crucial gap in the tech and startup industry. Hackathons and other competitions to identify tech solutions for social and business problems are born and developed,’’ Pitan said.