Innovation thrives where freedom exists. As part of the Next Advocates of Liberty Project (NALP), we are pleased to feature the research of Hafsat Salihu, a Research Fellow from Federal University of Lafia, Nasarawa State.
Her paper explores the growing concern of over-regulation in Nigeria’s fintech sector and how excessive government controls can slow innovation, discourage investment, and reduce financial inclusion for millions of Nigerians.
Nigeria’s fintech industry has become one of Africa’s strongest drivers of economic opportunity, particularly for young entrepreneurs and underserved communities. However, frequent regulatory uncertainty, licensing barriers, compliance burdens, and restrictive policy environments continue to challenge the sector’s growth.
This research argues that while regulation is necessary for stability and consumer protection, over-regulation can become a threat to market innovation and economic freedom. The paper proposes a more balanced regulatory framework that protects consumers while allowing entrepreneurship and financial technology to flourish.
Through this work, Hafsat contributes to a larger policy conversation on freedom, innovation, and the future of enterprise in Africa.
Read and download the full research paper below.
By Hafsat Salihu
Next Advocates of Liberty Project Research Fellow
Federal University of Lafia, Nasarawa State
