Tinubu Assures Investors of Nigeria’s Youth Potential, Welcomes Mastercard Digital Skills Initiative
Tinubu Assures Investors of Nigeria’s Youth Potential, Welcomes Mastercard Digital Skills Initiative
Tinubu Assures Investors of Nigeria’s Youth Potential, Welcomes Mastercard Digital Skills Initiative
President Bola Ahmed Tinubu has described Nigeria’s youthful population as the country’s greatest asset, assuring investors that the nation’s tech-savvy and adaptable workforce is well-positioned to compete in the global economy.
The President gave the assurance on Tuesday at the Presidential Villa, Abuja, while receiving a delegation from Mastercard led by its Chief Executive Officer, Michael Miebach.
President Tinubu welcomed Mastercard’s proposal to train five million Nigerian businesses in digital skills, describing the initiative as a significant contribution to the country’s economic transformation agenda.
According to the President, ongoing reforms have repositioned and stabilised the Nigerian economy, creating an enabling environment for investment, innovation and entrepreneurship, particularly among young people and small businesses.
He noted that efforts to formalise Nigeria’s vast informal sector are opening up new opportunities for investment, job creation, digital inclusion and economic growth.
“The most important asset is our youth. What you have been doing with our young population is commendable, and we will continue to support it in every form,” the President said.
Tinubu also stressed the importance of digital payment systems and financial inclusion for Micro, Small and Medium Enterprises (MSMEs), urging closer collaboration with institutions such as the Bank of Industry to expand access to opportunities for small businesses.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, represented at the meeting by tax reform chairman Taiwo Oyedele, said the administration’s economic reforms are driving greater integration across payment systems, digital services and credit markets.
Oyedele disclosed that more than 10,000 informal businesses have been applying for formal registration daily in recent months, reflecting growing confidence in the economy and opportunities created by ongoing reforms.
He added that government policies are expanding access to mortgages, student loans, consumer credit, auto financing and small-business funding, creating new opportunities for financial technology companies.
Speaking during the meeting, Mastercard CEO Michael Miebach reaffirmed the company’s commitment to supporting Nigeria’s economic transformation and digital economy ambitions.
Miebach, who established Mastercard’s Nigerian operations in 2011, said the company currently helps prevent approximately $200 million in fraud annually while facilitating about $2 billion in foreign exchange inflows into the country.
He noted that Mastercard is working to unlock opportunities for Nigeria’s estimated 40 million small businesses through digital skills development, financial inclusion and improved access to digital commerce tools.
According to him, the company has developed a three-year programme aimed at helping small businesses build digital capacity, strengthen cybersecurity awareness and expand participation in the digital economy.
Miebach also announced plans to support investments in cyber resilience, artificial intelligence risk management and threat intelligence through a proposed Cyber Centre of Excellence.
He said Mastercard remains committed to strengthening Nigeria’s role in driving intra-African digital trade and positioning the country as a leading force in Africa’s digital economy.
Tinubu Assures Investors of Nigeria’s Youth Potential, Welcomes Mastercard Digital Skills Initiative
