A coalition of youth groups operating under the banner of the Northern Youth Frontiers (NYF) has praised President Bola Ahmed Tinubu for the Federal Government’s partnership with global payment technology company Mastercard, describing the collaboration as a major boost for Nigeria’s digital economy.
The coalition, however, urged the Federal Government to ensure that Northern Nigeria benefits fully from the fintech and digital economy programmes expected to arise from the partnership.
In a statement issued by the Chairman of the NYF, Sama Musa, the group said the recent visit of Mastercard’s Global Chief Executive Officer, Michael Miebach, to President Tinubu at the State House in Abuja reflected increasing global confidence in the administration’s economic reform agenda.
He said: “Our commendation follows the high-powered visit of Mastercard’s Global CEO, Michael Miebach, to President Tinubu at the State House in Abuja, where Miebach revealed that the tech giant actively injects $2 Billion in foreign exchange into the Nigerian economy annually, blocks $200 million in financial fraud, and is set to deploy massive resources to unlock the potential of Nigeria’s Micro, Small, and Medium Enterprises (MSMEs).”
According to the coalition, the partnership represents a significant investment capable of accelerating Nigeria’s digital transformation while opening up fresh opportunities for entrepreneurs, businesses and young people nationwide.
The NYF noted that the proposed collaboration includes plans to establish a Cyber Centre of Excellence that will utilise artificial intelligence to improve cyber threat intelligence, tackle financial fraud and reinforce the country’s growing digital infrastructure.
The group also welcomed a proposed three-year programme aimed at building the digital and cybersecurity capacity of five million micro, small and medium enterprises (MSMEs), alongside deeper collaboration between Mastercard, the Central Bank of Nigeria (CBN) and local financial institutions to strengthen intra-African trade and simplify diaspora remittance transactions.
While applauding the initiative, the coalition stressed that the benefits of the partnership should be distributed fairly across all regions, particularly the North.
He added, “The Northern Youth Frontiers notes that this deep global commitment from Mastercard validates the economic reforms driven by the president. We celebrate the key components of this direct economic booster.
“The cyber centre of excellence, A proposed advanced technical hub leveraging AI to capture threat intelligence, combat financial fraud, and protect the nation’s rapidly scaling digital architecture.
Massive SME Digital Training. A strategic three-year capacity-building initiative aimed at equipping 5 million small businesses with vital digital skills and cybersecurity defences.
“Expanding Digital Economic Corridors, deeper operational collaborations with the Central Bank of Nigeria (CBN) and local financial institutions to boost intra-African trade and streamline diaspora remittances.
“A Passionate Plea for Equitability, do Not Leave the North Behind in Fintech”
The coalition maintained that although the initiative is a positive development for the country, deliberate efforts must be made to address regional disparities in digital infrastructure and financial inclusion.
“Historically, the Northern region has lagged significantly behind in terms of financial technology (fintech) infrastructure, digital inclusion, and access to modern credit facilities compared to our Southern counterparts. For this Mastercard partnership to achieve true national transformation, it must be rolled out equitably.
“The NYF passionately appeals to President Bola Ahmed Tinubu, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Communications, Innovation and Digital Economy, to deliberately ensure that the North is prominently featured as a major hub when these programs commence.
“Specifically, the coalition requests,
“Zonal Sub-Hubs for the Cyber Centre of Excellence: That tech incubation and cyber intelligence structures be decentralized to key Northern urban centres like Kaduna, Kano, or Maiduguri to harness the digital talents of Northern youths.
“Targeted Allocations for the 5 Million SME Training: That a substantial quota of the 5 million small businesses slated for digital skills training be strictly reserved for entrepreneurs across the 19 Northern states, particularly our local traders, agricultural MSMEs, and cottage industries.”
The group further advocated a more aggressive financial inclusion campaign aimed at reaching unbanked and underbanked rural communities across Northern Nigeria through stronger collaboration with financial institutions.
“President Tinubu has consistently stated that Nigeria’s tech-savvy youth are our greatest national asset. We, the Northern youth, are ready, capable, and eager to compete in this global digital economy.
“However, to build a resilient and balanced nation, the digital divide must be bridged. We thank Mr. President for securing this $2 billion economic lifeline, and we trust his fatherly disposition to ensure that the North is fully carried along as a primary beneficiary of the Mastercard digital revolution,” he said.
