Nigerian Youths Ready for Global Economy became the focus of discussions at the Presidential Villa on Tuesday as President Bola Ahmed Tinubu assured international investors that Nigeria’s young population possesses the skills, adaptability and determination needed to compete successfully in the global digital economy.
The President made the remarks while receiving a delegation from Mastercard led by its Global Chief Executive Officer, Michael Miebach, at the State House in Abuja.
Speaking during the meeting, President Tinubu described Nigeria’s youthful population as the country’s most valuable asset, noting that young Nigerians continue to demonstrate exceptional abilities in technology, innovation and entrepreneurship.
According to the President, the Federal Government has implemented reforms aimed at repositioning and stabilising the economy to create opportunities for youths, entrepreneurs and small businesses to thrive in an increasingly digital world.
The President welcomed Mastercard’s proposal to train five million businesses across Nigeria and equip them with digital skills, describing the initiative as a significant contribution to economic growth and financial inclusion.
He noted that the ongoing formalisation of Nigeria’s large informal business sector would open new opportunities for investments, employment generation, digital payments and economic expansion.
President Tinubu stated that the changing business landscape in Nigeria is encouraging more entrepreneurs to register their businesses and embrace technology-driven solutions.
“The most important asset is our youth. What you have been doing with our young population is commendable, and we will continue to support that in every form,” the President said.
He further assured that his administration remains committed to empowering more Nigerian youths with digital knowledge and modern skills capable of addressing current economic realities and future technological challenges.
Also speaking during the meeting, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the opportunities created by ongoing economic reforms, particularly in digital payments, credit systems and business formalisation.
He revealed that more than 10,000 informal businesses have been applying for registration daily in recent months, a development attributed to recent fiscal and tax reforms introduced by the administration.
According to the minister, the government is working towards empowering at least three million Nigerian youths through programmes focused on digital skills, innovation and employment creation.
Mastercard CEO Michael Miebach expressed confidence in Nigeria’s economic potential, describing the country as one of Africa’s most important growth markets.
Miebach disclosed that Mastercard has maintained operations in Nigeria since 2011 and continues to play a key role in supporting digital payments, financial inclusion and small business development.
He said the company currently helps prevent approximately $200 million in fraud annually while facilitating about $2 billion in foreign exchange inflows into the Nigerian economy.
The Mastercard chief also revealed plans to empower up to 40 million small businesses in Nigeria through digital skills training, cybersecurity awareness and technological support.
According to him, many entrepreneurs are eager to digitise their operations but require technical knowledge and capacity-building programmes to succeed in today’s digital marketplace.
Miebach noted that Mastercard has already developed frameworks and platforms that will help small businesses expand their digital presence while protecting them from cyber threats.
He further announced plans for technical workshops and practical training programmes designed to ensure measurable impact rather than mere policy discussions.
The meeting also explored opportunities for strengthening Nigeria’s digital economy, improving payment systems and enhancing financial inclusion across Africa through technology-driven solutions.
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With Nigerian Youths Ready for Global Economy remaining a central focus of the administration’s economic agenda, stakeholders believe the partnership between the Federal Government and Mastercard could accelerate digital transformation, job creation and entrepreneurship across the country.
Analysts say increased investment in digital skills development and financial technology will position Nigeria as a leading innovation hub on the African continent while creating opportunities for millions of young people seeking meaningful participation in the global economy.