Paragraph 1: The Importance of Early Savings and Retirement Planning
Patrick Akinwuntan, former Managing Director of Ecobank Nigeria, underscored the critical importance of early financial planning for young professionals. He stressed that cultivating a strong savings habit and initiating retirement planning early in one’s career are essential strategies for achieving long-term financial security. Akinwuntan emphasized the need to distinguish between consumption, which depletes resources, and investment, which generates future value. He advised young professionals to adopt a mindset of acquiring assets that appreciate over time, building a foundation for lasting financial well-being. This principle of early financial planning acts as a cornerstone for a stable and secure future, allowing individuals to navigate life’s uncertainties with greater confidence.
Paragraph 2: Practical Saving Strategies and Financial Discipline
Akinwuntan advocated for a disciplined approach to saving, suggesting that young professionals aim to save a significant portion, specifically 70%, of their earnings. This approach emphasizes the importance of prioritizing savings as a fundamental element of financial planning. He cautioned against the allure of extravagant spending on non-essential items, such as high-end vehicles or gadgets that offer minimal practical value. This warning highlights the need for mindful spending habits, encouraging young professionals to evaluate purchases based on their long-term utility rather than fleeting desires. By curbing impulsive spending and cultivating a saving-oriented mindset, individuals can build a solid financial foundation that supports their future goals.
Paragraph 3: Embracing Failure and the Can-Do Spirit
Beyond financial planning, Akinwuntan also addressed the importance of embracing failure as a learning opportunity. He encouraged young professionals to view setbacks not as deterrents, but as stepping stones toward growth and resilience. He emphasized that the true essence of a "can-do" spirit lies not in avoiding mistakes altogether, but in the ability to learn from them and persevere. This mindset shift frames failure as an inevitable part of the learning process, allowing individuals to extract valuable lessons from experiences and emerge stronger and more resourceful.
Paragraph 4: Self-Growth, Disruption, and Leadership
Akinwuntan articulated the concept of self-growth as a continuous journey of striving to become a better version of oneself. He urged young professionals to embrace a mindset of lifelong learning, encouraging them to learn, unlearn, and relearn as they adapt to the evolving demands of the professional landscape. He defined disruptors as individuals who identify and address societal challenges while simultaneously creating value for themselves and others. He highlighted the leadership potential inherent in young professionals, asserting that they are already leaders in their own right. He underscored that leadership necessitates courage, particularly in the face of uncertainty and fear, empowering individuals to take initiative and drive positive change.
Paragraph 5: Integrity, Mentorship, and Learning from Others
Akinwuntan highlighted the importance of integrity as a fundamental principle guiding professional conduct. He advocated for mentorship as a valuable tool for professional development, encouraging young professionals to seek guidance from experienced individuals in their respective fields. He stressed the importance of learning not only from one’s own experiences but also from the successes and failures of others. This approach leverages the collective wisdom of those who have traversed similar paths, enabling young professionals to navigate their careers more effectively and make informed decisions.
Paragraph 6: Insights from the Young Catholic Professionals Day
The Lagos Archdiocesan Young Catholic Professionals Day 2025, themed "Self-growth and financial freedom: lessons from disruptors," featured a keynote address by Akinwuntan and a panel discussion with accomplished professionals from various sectors. The panel included Nkechi Obi, Managing Director/Chief Executive Officer of Techno Oil; Oghogho Osula, financial expert and founder of OO Value Investment; Chibuzo Ike, co-founder of Vpay; Yetunde Ayo-Oyalowo, founder of Market Doctors Nigeria; and Harrison Obiefule, communications strategist. This diverse panel provided a platform for sharing valuable insights and experiences, offering attendees practical advice and inspiration related to career development, financial management, and leadership. The event served as a forum for fostering dialogue and networking among young professionals, equipping them with the tools and knowledge to thrive in their chosen fields.
