In a bold move to bridge the financial knowledge gap among young people, the Convener of She Support Her Rise, Suratu Nagada-Pamah, has unveiled a mentorship-driven initiative under the Empower the Next programme aimed at educating youths between the ages of 15 and 25 on money management, entrepreneurship, and the importance of formal education.
Speaking at a mentorship summit in Abuja on Tuesday, Nagada-Pamah shared her personal struggles with financial literacy, revealing how the absence of proper mentorship in her early years led to repeated business failures.
“I’ve started over ten businesses, and I failed at all of them. Nobody mentored me on finance or how to run a business. I had to learn through painful experiences,” she said.
She stressed that the younger generation faces new distractions—chiefly social media—and is often bombarded with unfiltered content that shapes their perception of success and money. “If you don’t teach your children, the world will teach them,” she warned, adding that filtering what they consume online is no longer enough without real-life guidance.
The initiative seeks to correct these trends by bringing together seasoned financial experts and mentors who can equip the youth with practical tools for financial success. “I am not a financial expert, but I know people who are. I brought them together because these young ones need to hear from those who understand how money works,” she explained.
Nagada-Pamah also emphasized the continued relevance of education, noting that while many people succeed without formal degrees, they often rely on educated professionals to manage their finances. “School is still important. You can’t build a sustainable business without understanding how to manage your expenses,” she said.
She noted that the theme of the summit: Empowering the Next Chapter: Building Wealth, Skills and Vision aims to ensure that the younger generation does not repeat the financial mistakes of their predecessors. By offering mentorship and practical financial knowledge, Nagada-Pamah hopes to help young people discover their potential early and build a more financially literate and self-reliant generation.
Financial literacy advocate and keynote speaker, Theodora Otu, on her part urged Nigerians to embrace a culture of savings, planning, and delayed gratification to avoid financial instability and dependency.
Otu recounted her personal journey in life during which she developed key financial strategies such as saving, investing, and budgeting. According to her, these principles transformed her finances and helped her meet obligations like school fees and rent without relying on external support.
“I realized that no bill should ever take you unaware. Every major financial obligation comes with advance notice—rent, school fees, even pregnancy gives you nine months,” she said. “So why do we still get caught off guard? It’s simply due to a lack of financial planning.”
Otu, who now runs a financial literacy company, said her experiences inspired her to spread the message of responsible money management. Her organisation also runs the Giselle Kid Vesto Club, which teaches children about savings, investments, assets, and liabilities—an effort she says is aimed at catching the next generation young and setting them on a sound financial path.
“We want children to understand from an early age that financial discipline can help them make smarter choices later in life,” she explained. “Too many of us made mistakes with money because no one taught us better.”
She emphasized the importance of saving before spending, not the other way around. “Even if it’s just 5% or 10% of your monthly income, consistent savings can make a huge difference over time. It also serves as a financial cushion in emergencies, so you’re not completely dependent on others,” she said.
Otu also highlighted the changing dynamics of gender and financial habits. While women were once known for their cautious money management—saving even from small trades—she noted that growing consumerism is eroding that culture, with many prioritizing luxury items over financial security. At the same time, she acknowledged that men are beginning to adopt better financial practices.
“We are now in an era where neither men nor women can be singled out. Everyone needs financial literacy. We must all unlearn bad habits and relearn how to manage our resources wisely,” she concluded.
