JUST IN: Tinubu highlights Nigeria’s youth potential, welcomes Mastercard’s training for 5 million businesses

Entrepreneurship & SMEs, Politics

ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu has assured global investors that Nigeria’s youthful, tech‑savvy population remains the nation’s greatest asset, capable of integrating seamlessly into the global economy.

Receiving Mastercard’s Global Chief Executive Officer, Michael Miebach, at the State House on Tuesday, the President welcomed the company’s proposal to train five million businesses and equip them with digital skills.

He emphasised that ongoing reforms have repositioned Nigeria’s economy to empower youths and small enterprises, noting that the formalisation of the informal sector will unlock opportunities for investment, employment, and growth.

Tinubu praised Mastercard’s longstanding presence in Nigeria, describing the firm as a trusted partner in financial management. He highlighted the importance of payment platforms for small and medium‑scale businesses and assured continued government support for initiatives that strengthen inclusivity and digital participation.

Finance Minister Taiwo Oyedele underscored that reforms in credit and payment systems align with Mastercard’s work in Nigeria, pointing to the digitisation of government services and the registration of over 10,000 informal businesses daily. He stressed that Nigeria’s large youth population and fintech ecosystem present vast opportunities for global firms.

Miebach reaffirmed Mastercard’s commitment, citing the prevention of $200 million in fraud, facilitation of $2 billion in foreign exchange, and support for SMEs.

He announced plans to empower 40 million small businesses with digital skills through a three‑year programme, alongside the establishment of a Cyber Centre of Excellence to address emerging risks.

The meeting concluded with both sides pledging deeper collaboration to drive Nigeria’s digital economy, expand financial inclusion, and strengthen resilience in the global market.