Key Points
- Dr. Umaru Kwairanga, Chairman of the Nigerian Exchange Group, encouraged Nigerian youth to prioritize entrepreneurship and wealth creation instead of migrating abroad.
- The call was made during the 2026 Youth Week at the University of Abuja, themed “Youth Economic Intervention, Entrepreneurship and Wealth Creation in Nigeria: Japa Syndrome is Not the Solution”.
- Kwairanga identified innovation and small-scale enterprises as the foundation of strong global economies like those in the United States, Germany, and China.
- He noted that starting a business in Nigeria involves hurdles such as electricity deficits and access to finance, but these are surmountable through resilience.
- Investment in the capital market was highlighted as a structured avenue for long-term wealth creation and prosperity.
Main Story
The Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has cautioned Nigerian youth against the “japa” syndrome, arguing that seeking opportunities abroad is often a costly decision that may not yield expected results.
Speaking at the University of Abuja, Kwairanga emphasized that Nigeria’s demographic advantage can only be converted into economic power if youthful energy is directed toward productive capacity within the country.
He urged students to view themselves as active participants in the evolution of the Nigerian system rather than mere beneficiaries.
Kwairanga proposed entrepreneurship as the primary solution to the nation’s unemployment challenges. He advised young Nigerians to focus on developing innovative ideas that solve societal problems, citing the success of SME-driven economies in Japan and Germany as templates for growth.
To succeed, he recommended that aspiring entrepreneurs cultivate a disciplined savings culture and develop structured business plans to navigate local challenges like limited access to capital and power supply.
The Issues
- Migration decisions are described as “often costly” and may fail to deliver the desired economic outcomes.
- Entrepreneurs face significant local challenges, including “access to finance, electricity and trust issues”.
- Ambitions are often derailed by “excessive social media use and fraudulent schemes”.
- Nigeria’s youthful population is currently underutilized and must be converted into “productive capacity” to build a strong economy.
What’s Being Said
- “Nigeria’s demographic advantage will only translate into economic strength if we are able to convert youthful energy into productive capacity.”
- “The future we seek will not be imported. It will be built here, by you.”
- “Japa Syndrome is Not the Solution.”
- Success is achievable through “discipline, focus and resilience.”
What’s Next
- An increased emphasis on instilling an “entrepreneurial mindset” in students “early in life”.Aspiring entrepreneurs will be encouraged to focus on “building businesses” to address societal gaps.
- Continued promotion of “participation in the capital market” as a viable way to build personal wealth.
- Targeted efforts to warn youth against “fraudulent schemes” that threaten entrepreneurial progress.
Bottom Line
Economic Empowerment. The NGX Chairman is advocating for a domestic entrepreneurial revolution, urging Nigerian youth to abandon migration plans in favor of building local businesses and investing in the capital market to secure the country’s future.
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