President Bola Ahmed Tinubu has reaffirmed that Nigeria’s youthful population remains the country’s greatest asset, assuring global investors that Nigerian youths are tech-savvy, eager to learn, and capable of integrating seamlessly into the global digital economy.
Speaking on Tuesday while receiving a delegation from Mastercard led by its Global Chief Executive Officer, Michael Miebach, at the State House in Abuja, President Tinubu welcomed the company’s proposal to train five million businesses and equip them with digital skills. He noted that ongoing economic reforms and the formalisation of Nigeria’s vast informal business sector are creating opportunities for investment, innovation, employment, and economic growth.
The President said the administration is committed to empowering young Nigerians and small businesses through digital inclusion, stressing that technology adoption among entrepreneurs is steadily increasing.
He also highlighted the role of the Bank of Industry in supporting Micro, Small and Medium Enterprises (MSMEs) and underscored the importance of modern payment platforms in expanding financial inclusion across the country.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said President Tinubu’s reforms have strengthened opportunities in digital payments, credit systems, and business formalisation. According to him, more than 10,000 informal businesses have been registering daily in recent months, while government efforts are aimed at empowering at least three million Nigerian youths through participation in the digital economy.
In his remarks, Mastercard CEO Michael Miebach pledged the company’s continued support for Nigeria’s economic transformation. He disclosed that Mastercard currently helps prevent about $200 million in fraud annually and contributes approximately $2 billion in foreign exchange inflows into Nigeria.
Miebach also announced plans to empower 40 million Nigerian small businesses with digital skills through a structured three-year programme, alongside investments in cybersecurity, digital inclusion, and a Cyber Centre of Excellence to strengthen resilience against emerging cyber threats.
