President Bola Tinubu has highlighted Nigeria’s young population as a primary economic asset, informing international investors that the nation’s tech-competent workforce is prepared to excel in the global marketplace. The president shared these sentiments during a meeting at the State House in Abuja with a Mastercard delegation headed by Global CEO Michael Miebach.
The administration expressed support for Mastercard’s plan to provide digital skills training for five million businesses, viewing it as a vital contribution to national economic progress. President Tinubu emphasized that recent government reforms have stabilized the economy and created a more inviting landscape for investors by focusing on the formalization of small businesses.
Minister of Finance Taiwo Oyedele reported that approximately 10,000 informal businesses are seeking formal registration daily, a trend fueled by current fiscal and tax policy adjustments. The Minister noted that with five of Africa’s nine fintech unicorns originating in Nigeria, the country remains a hub for digital innovation. He also pointed to potential growth in consumer credit, student loans, and small-business financing as areas for strategic collaboration.
During the visit, Michael Miebach described Mastercard’s long-term involvement in Nigeria since 2011. He pledged the firm’s commitment to empowering 40 million small-to-medium enterprises through a three-year digital capacity-building program. Furthermore, Mastercard plans to bolster Nigeria’s economic infrastructure through investments in cybersecurity, artificial intelligence, and digital risk management.
