The NGPF Podcast goes international in this conversation with Alero Awoyemi, the passionate leader of a financial education non-profit called Proshare Foundation. You will learn about the current state of financial education in Nigeria and Alero's role on improving it. It was intriguing to learn about the similarities and differences when it comes to the key concepts that Proshare is seeking to teach Nigerian youth as well as the typical financial products that are used by consumers in this African country. Enjoy! 

Details:

• 0:00~2:04 Introduction
• 2:04~4:49 What ProShare does
• 4:49~10:36 Early money lessons
• 10:36~14:17 Current state of financial literacy in Nigeria
• 14:17~14:41 A word from NGPF
• 14:41~22:35 Bringing financial education to schools
• 22:35~26:23 Main lessons students need to learn
• 26:23~32:02 Planning for retirement
• 32:02~39:50 Culture around credit
• 39:50~41:28 Conclusion

Resources:

• ProShare Nigeria

Quotes:

• “The issue is something we need to look at holistically, from the government to parents and to the educational institutions and work together to make this work.” 

• “I always tell people ‘don’t look at issues from the outside,’ and ask yourself ‘what do I have in my hands that I can manage properly that could create a better world for me?’ Some might say the government is responsible for the economic problems, but if you on your own have a money management issue, at the end of the day who is to blame? If people are financially educated and they know what they need to do, they are better off than blaming others.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.