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From Charity Nwakaudu, Abuja
A coalition of northern youth organisations under the umbrella of the Northern Youth Frontiers (NYF) has commended President Bola Ahmed Tinubu over the Federal Government’s strategic partnership with global payments company Mastercard, describing it as a major boost for Nigeria’s digital economy.
The group, however, urged the Federal Government to ensure that Northern Nigeria is fully integrated into the implementation of the fintech and digital economy initiatives expected to emerge from the partnership.
In a statement signed by the Chairman of the NYF, Sama Musa, the coalition said the recent visit of Mastercard’s Global Chief Executive Officer, Michael Miebach, to President Tinubu at the State House, Abuja, reflected growing international confidence in Nigeria’s ongoing economic reforms.
According to the group, Mastercard’s commitment to inject about $2 billion annually in foreign exchange into the Nigerian economy, prevent approximately $200 million in financial fraud and support the growth of Micro, Small and Medium Enterprises (MSMEs) demonstrates the country’s increasing attractiveness to global investors.
The coalition described the partnership as a landmark investment capable of strengthening Nigeria’s digital economy while creating fresh opportunities for businesses, entrepreneurs and millions of young Nigerians.
NYF particularly welcomed plans to establish a Cyber Centre of Excellence that will deploy artificial intelligence to enhance cyber threat intelligence, combat financial fraud and strengthen the country’s digital infrastructure.
It also praised the proposed three-year digital capacity-building programme expected to train five million small businesses in digital and cybersecurity skills, as well as expanded collaboration between Mastercard, the Central Bank of Nigeria (CBN) and local financial institutions to boost intra-African trade and facilitate diaspora remittances.
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While applauding the initiative, the group appealed to the Federal Government to ensure that Northern Nigeria benefits substantially from the programme.
“The Northern Youth Frontiers notes that this deep global commitment from Mastercard validates the economic reforms driven by President Tinubu. We celebrate the cyber centre of excellence, the massive SME digital training programme and the expansion of digital economic corridors,” the statement said.
The coalition noted that Northern Nigeria has historically lagged behind in financial technology infrastructure, digital inclusion and access to modern credit facilities, insisting that the partnership should be implemented equitably to bridge the digital divide.
It urged the Federal Government to establish zonal sub-hubs for the proposed Cyber Centre of Excellence in major northern cities such as Kaduna, Kano and Maiduguri to harness the region’s growing pool of digital talent.
The group also called for a substantial quota of the five million MSMEs earmarked for digital training to be reserved for entrepreneurs across the 19 northern states, particularly traders, agricultural businesses and cottage industries.
In addition, NYF advocated an aggressive financial inclusion campaign targeting unbanked and underbanked rural communities across the North through stronger partnerships with financial institutions.
Reaffirming the commitment of northern youths to national development, the coalition said they were prepared to compete in the global digital economy but stressed that inclusive implementation of the Mastercard partnership would be critical to ensuring balanced national growth.
It expressed confidence that President Tinubu would ensure the North emerges as a major beneficiary of the digital transformation initiative.
