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From Okwe Obi, Abuja
Director-General of the National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar Sulaiman, has told young lawyers that obtaining a law degree is not a guarantee to financial freedom.
Suleiman spoke at the Law and Inclusive Development Summit (LIDS) 2.0, themed, “The Next Brief: From Regulation to Opportunity – Positioning Young Lawyers for Financial Inclusion and Economic Participation,” organised by Citizens Initiatives for Rights and Empowerment (CITIZINRE) in Abuja, yesterday.
The summit brought together legal practitioners, regulators, financial experts, policymakers and young professionals to explore pathways for financial inclusion, entrepreneurship and economic participation within the legal profession
Represented by his Special Assistant on Media, Mohammad Abdulkadir, he said: “It is no longer news that obtaining a degree or possessing a certificate of any kind is not a gateway or automatic ticket to economic emancipation and financial freedom. It is, at best, a platform to navigate the complexities of life and build something meaningful.”
He observed that thousands of law graduates enter an already saturated labour market every year, making it necessary for young lawyers to develop additional skills that can distinguish them from their peers.
“The difference between those who succeed and those who merely get by is the ability to build enduring skills that are valuable and can stand the test of time. Skills in leadership, entrepreneurship and management are critical,” he stated.
The NILDS boss also encouraged young lawyers to take advantage of technology to enhance their professional development, citing platforms such as the law pavilion as examples of innovation transforming legal practice.
He disclosed that the institute had trained more than 200 fresh law graduates through its legislative drafting internship programme over the past four years to address the shortage of skilled legislative drafters in the country.
Delivering the keynote address, Senior Advocate of Nigeria (SAN), Adeboro Adamson, challenged young lawyers to see themselves as active participants in economic development rather than mere advisers.
He urged them to acquire skills beyond traditional legal practice, stressing that success in today’s economy requires competence in technology, entrepreneurship, leadership and financial literacy.
According to Adamson, lawyers have historically played central roles in creating value, structuring businesses, negotiating transactions and building institutions that support economic growth.
“Every time a lawyer structures a transaction, negotiates a concession or builds a governance framework, he or she is not merely assisting economic activity; that lawyer is creating economic value,” he said.
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He noted that the global economy is rapidly evolving through technology, artificial intelligence, digital assets, venture capital and intellectual property, creating opportunities for lawyers willing to expand their knowledge beyond conventional practice.
“The lawyer, who understands business, as well as law is better equipped than the one who understands law alone. The future belongs to the lawyer who is financially literate, technologically competent and conscious of his role in building institutions,” he added.
He, however, cautioned lawyers against compromising professional ethics in pursuit of economic opportunities, insisting that integrity and enterprise can coexist.
“The challenge is not whether lawyers should participate in economic activities. The challenge is whether they can do so responsibly, while maintaining the trust and confidence that the profession demands,” he said.
Director-General of the Citizenship and Leadership Training Centre (CLTC), Rinsola Abiola, said the legal profession was increasingly expanding into emerging sectors such as financial technology, digital commerce, data protection, entrepreneurship and social innovation.
She noted that access to financial opportunities is closely tied to legal structures and institutions, making lawyers key actors in promoting inclusive economic development.
Abiola said: “Young lawyers must position themselves at the intersection of law, technology, finance and development. They must develop the skills necessary to advise businesses, support entrepreneurship, contribute to policy development and ensure that innovation occurs within a framework that protects inclusion, fairness and accountability.”
She added that leadership is not limited to occupying public office but includes the ability to create solutions, serve communities and drive positive change.
Earlier, Founder of CITIZINRE and Convener of LIDS 2.0, Zullaihat Muhammad Ohiare, said discussions around the welfare of young lawyers should extend beyond remuneration and professional fees to include conversations about wealth creation and economic participation.
According to her, many young lawyers have been conditioned to focus on the limitations of the profession rather than the opportunities available within the legal and economic ecosystem.
“We must ask a harder and more honest question: how else, within the legal frameworks of this profession, can a lawyer create wealth?” she said.
She argued that too many young lawyers remain uncertain about their place in the economy because they have been taught what they cannot do before being shown the possibilities available to them.
She expressed optimism that the summit would help broaden perspectives and equip participants with the knowledge needed to navigate emerging opportunities, while maintaining professional standards.
