Bitcoin Adoption as a Tool for Empowering Nigeria’s Youth amid Economic Challenges

Alhaji Idi  Babate; Abdullahi Abubakar; Abdulhakeem Ishola

Alhaji Idi Babate Federal College of Education (Tech.), Potiskum, Nigeria
Abdullahi Abubakar Waziri Umaru Federal Polytechnic, Birnin Kebbi, Nigeria
Abdulhakeem Ishola Waziri Umaru Federal Polytechnic, Birnin Kebbi, Nigeria

Keywords: Bitcoin, empowerment, blockchain, cryptocurrency, challenge

Abstract

Bitcoin, a global cryptocurrency, has emerged as a transformative technology with the potential to empower Nigeria's youth amidst the country's economic challenges. Despite regulatory limitations, many young Nigerians have embraced Bitcoin, driven by the desire for financial freedom and inclusion. This paper examines how Bitcoin adoption has created new job opportunities in the crypto industry, providing higher-paying careers in areas such as blockchain development, NFT marketing, and community management. Bitcoin also offers Nigerians financial freedom by enabling peer-to-peer transactions, trading, and remittance services without relying on traditional financial intermediaries. To fully harness the potential of Bitcoin, the Nigerian government must play a crucial role in developing appropriate regulations and policies that recognize the growing importance of digital assets. By embracing modern financial technology like Bitcoin, Nigeria can address key economic issues, including unemployment, balance of payments, fiscal deficits, and infrastructure challenges. Ultimately, the successful adoption of Bitcoin in Nigeria can help the country achieve economic prosperity, low inflation, and increased productivity, positioning it as a competitive player in the global trade market and empowering its youth to thrive in the digital economy.

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