Nigeria urged to improve education system to achieve Made- In- Nigeria vision

Nigeria must review its education system to build the required mind power essential to achieve the Made in Nigeria vision, according to the Chairman of First Bank Nigeria, Ibukun Awosika. Speaking at the ongoing Nigeria Economic Summit in Abuja, Awosika highlighted the importance of focusing on self-sufficiency to reduce the country's reliance on imports and create jobs for its citizens. With a population of nearly 180 million people, Nigeria has the potential to become a major consumer and exporter of various products. However, Awosika noted that significant investments in technical and vocational education are crucial to develop the skilled workforce needed to drive industrial production in the country. She emphasized the need for a shift in educational focus towards practical skills and vocational training, rather than solely prioritizing university education. Awosika acknowledged the challenges in driving this initiative, particularly amidst the current economic situation in the country, but stressed the importance of taking the first step towards building a sustainable model for economic growth. She also underscored the role of commercial banks in supporting entrepreneurs and businesses by providing financial backing and promoting innovation. In response to the changing business landscape, Nigerian banks are increasingly focusing on retail and SME investments, leveraging digitalization and cost-efficient strategies to enhance their engagement with small businesses. As Nigeria strives to achieve self-sufficiency and promote local production, collaboration between the government, businesses, and financial institutions will be key to driving economic development and fostering entrepreneurship.