Tinubu urges investors to harness Nigeria’s tech-savvy youth workforce

President Bola Tinubu has identified Nigeria's youthful population as the nation's most significant asset, assuring foreign investors of a workforce adept in technology and ready for global economic competition. He made these remarks while meeting with a delegation from Mastercard, led by its Global Chief Executive Officer, Michael Miebach, at the State House in Abuja.

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The most important asset is our youth.

Tinubu expressed enthusiasm for Mastercard's initiative to train five million businesses in digital skills, deeming it timely and vital for Nigeria's economic transformation agenda. He emphasized that the economy has been repositioned for full participation in the global market, with a strong focus on empowering young people and small businesses through digital tools and expertise. The president also noted that efforts to formalize Nigeria's predominantly informal small-business sector will generate more opportunities for investment, employment, digital transition, and overall economic growth.

"The most important asset is our youth," Tinubu stated, commending Mastercard's work with the young population and pledging continued government support. He encouraged Mastercard to view Nigeria as a partner, assuring them that existing agreements are valid. The president also pointed to the Bank of Industry (BOI) and its database of Micro, Small and Medium Enterprises (MSMEs) as a resource that will aid in deepening financial inclusion and improving payment systems.

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What you have been doing with our young population is commendable, and we will continue to support that in every form.

Minister of Finance Taiwo Oyedele added that the government's reforms are fostering new opportunities for integration, particularly in payment and credit systems. These reforms aim to boost digitalization, strengthen small businesses, and encourage the formalization of Nigeria's vast informal sector. Oyedele highlighted that over 10,000 informal businesses are applying for registration daily, a trend attributed to current fiscal and tax reforms. He also pointed out significant opportunities in consumer credit, mortgages, student loans, auto financing, and small-business lending, suggesting Mastercard could play a key role in expanding Nigeria's credit economy. The minister also noted that five of Africa's nine fintech unicorns are Nigerian.

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As the host country, the agreements we have with you are valid, and I want you to see us as partners.