President Bola Tinubu has assured foreign investors that Nigeria’s youthful population is well positioned to embrace technology, acquire digital skills and compete effectively in the global economy.
The President gave the assurance on Tuesday while receiving a delegation from Mastercard, led by its Global Chief Executive Officer, Michael Miebach, at the State House in Abuja.
Tinubu welcomed Mastercard’s proposal to support millions of Nigerian businesses with digital tools and capacity-building initiatives, describing the move as a boost to the country’s economic reforms and investment drive.
He said the administration’s ongoing efforts to formalise businesses operating in the informal sector would accelerate digital adoption, widen access to opportunities and stimulate economic growth.
According to the President, Nigeria’s young population remains one of its greatest assets, noting that initiatives targeted at equipping them with digital knowledge and tools would strengthen the country’s economic future.
He also stressed the importance of payment platforms and financial technology solutions in expanding access for small and medium-scale enterprises, many of which are increasingly embracing technology and formal registration.
Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the government’s reform agenda was opening up fresh opportunities in the digital economy, especially for young Nigerians and small businesses.
He explained that efforts to digitise government services and deepen financial inclusion were helping to bring more businesses into the formal economy, while creating jobs and growth opportunities in the digital space.
Edun disclosed that recent fiscal and tax reforms had encouraged a significant number of informal businesses to begin formal registration, with more than 10,000 reportedly applying daily in recent months.
Mastercard’s chief executive, Michael Miebach, reaffirmed the company’s commitment to Nigeria’s digital transformation, saying the country remains a key player in Africa’s financial and technological landscape.
He noted that Mastercard, which has operated in Nigeria since 2011, had witnessed notable growth and progress in the country’s business environment and remains keen on supporting small businesses through digital solutions, financial inclusion and technical support.
Miebach said the company was implementing a three-year programme aimed at helping small businesses build digital capabilities, operate more efficiently and navigate the challenges of a technology-driven marketplace.
He added that Mastercard would continue investing in digital security, inclusion and resilience, including programmes focused on cyber security and emerging technology risks.
The meeting comes as the Federal Government intensifies efforts to strengthen small businesses, deepen digital participation and position Nigeria as a leading force in Africa’s growing digital economy.
