The young people of Nigeria are ready to harness the opportunity that Bitcoin represents to lead their country.
This is an opinion editorial by Ray Youssef, CEO of Paxful and cofounder of the Built With Bitcoin Foundation.
My plane wheels touched the tarmac, the excitement took over me — it was my first visit to Nigeria in a year, and it felt good to be back.
Anyone who has listened to me over the last seven years, knows I have so much enthusiasm and belief in the future for the people of the Global South — and there is no country that I am more excited about than Nigeria.
As I write this, I have just spent the last 10 days in the country. I had the honor of speaking at an event hosted by the National Information Technology Development Agency (NITDA) to explain how Bitcoin helps empower the Nigerian youth. It was an opportunity to talk with people in government and explain why they should embrace Bitcoin — this is a solution to better the lives of the people, especially the youth, and it is already happening.
It’s been nearly two years since I was on the stage at Bitcoin 2021 and I shared my enthusiasm for this magnificent country and its wonderful people. It wasn’t scripted or planned, it was from the heart. I told Bitcoiners in the Miami audience why I’m so passionate about the country, what it has taught me and how bright the future will be. My message struck a chord with people, and in the weeks and months that followed, I was able to open a dialogue with people from around the world who had seen the clip and shared my passion. There’s a generation of youths that are eager and ready to help make this bright new future happen — and even better, they want to do so with Bitcoin.
You’ll see in many studies that Nigerians are leading in Bitcoin adoption — it’s no surprise to me. They’re early adopters, looking for ways to improve their day-to-day lives — just ask the founders of WhatsApp, who benefitted from the Nigerian appetite for the communication app. Bitcoin is the same for them.
It was the youth of Nigeria who taught me to think beyond the financial systems of the West and look at gift cards and alternative payment methods as options to buy Bitcoin. I didn’t have this magic idea, it was through listening and watching what the Nigerian people did that I was able to build Paxful.
What encourages me more is all the talented individuals on the ground — people like Bernard Parah and Abubakar Nur Khalil, and initiatives like the Qala Fellowship — plus the PaxNaija Bitcoin Center in Abuja. It’s an exciting time to be in Nigeria, even more so a Bitcoiner in Nigeria.
I ended my trip with a campus tour in Abuja, where I spoke to hundreds of young students about Bitcoin. It’s moments like this that I strive towards. Seeing the people, being on the ground, seeing the hope and potential for the future. These are special times, this is a special country, and I will continue to speak up for these incredible 220 million people. As bitcoiners, we need to broaden our eyes from our Western mindset and look to see how the wider world is using Bitcoin — once we do that, that’s when global adoption will become the reality we all want.
Make we jam for Naija.
This is a guest post by Ray Youssef. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
