Nigeria's Youth Are Its Greatest Asset, President Tinubu Tells Mastercard CEO

President Bola Tinubu declared on Tuesday that Nigeria's youth population represents the country's most significant asset, describing them as tech-savvy and eager to learn. He conveyed this to Michael Miebach, the Global CEO of Mastercard, during a meeting at the State House in Abuja. Tinubu welcomed Mastercard's proposal to train five million Nigerian small businesses and equip them with essential digital skills. He asserted that Nigeria's economy has been repositioned and stabilized to actively participate in global commerce. The president highlighted that his administration's reforms are intentionally focused on empowering young individuals and small enterprises with digital tools. He noted that the ongoing formalization of Nigeria's largely informal small-business sector is creating new avenues for digital transitions, investment, employment, and overall growth. Tinubu urged Mastercard to strengthen its partnership with Nigerian institutions, particularly the Bank of Industry, which he noted possesses a valuable database of Micro, Small, and Medium Enterprises. He stressed the necessity of robust payment plans and platforms for the inclusion of these businesses. The Minister of Finance, Taiwo Oyedele, added that the administration's economic reforms have generated substantial opportunities for Mastercard's integration into credit and payment systems. Oyedele pointed out that the formalization drive alone is creating significant momentum, with over 10,000 informal businesses applying for registration daily in recent months, indicating the vast opportunities available in Nigeria for companies like Mastercard.

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The most important asset is our youth.