By Destiny Jemiriayegbe
Nigeria’s Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has outlined the Federal Government’s strategy for sustainable job creation, stating that it is firmly anchored on comprehensive macroeconomic reforms and private-sector–led growth under the Tinubu Administration.
Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, the Minister explained that Nigeria’s approach prioritises restoring macroeconomic stability while creating clear, investable pathways for private enterprise.
He cited key reforms already implemented, including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and ongoing restructuring of the power sector to clearly separate generation, transmission, and distribution.
According to the Minister, these reforms are aimed at improving transparency, correcting long-standing distortions, and attracting long-term private investment—particularly in energy-intensive and employment-generating sectors.
The Minister further noted that comprehensive tax reforms are underway to enhance efficiency, improve predictability, and strengthen Nigeria’s competitiveness as a destination for business and investment.
Referencing Nigeria’s hosting of the West Africa Economic Summit (WAES), Ambassador Tuggar explained that the summit was designed to close information gaps by equipping the regional private sector with practical insights into existing frameworks and opportunities, including the West African Power Pool and other enabling regulatory instruments.
He emphasised that while government’s role is to provide a stable and enabling environment, the private sector remains the primary driver of job creation. In this regard, he pointed to the emergence of local production ecosystems that are increasingly transforming raw materials into finished goods, supported by stronger linkages between labour, finance, and markets. These developments, he said, are already expanding economic opportunities for women and young people.
The Minister also cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core mandate of economic integration. He stressed that deeper intra-African trade, stronger industrial linkages, and integrated value chains are critical to sustaining long-term growth and employment across the continent.
He concluded by reaffirming Nigeria’s commitment to reforms that build investor confidence, unlock private capital, and position the country as a platform for inclusive growth and job creation in Africa.
Alkasim Abdulkadir, Special Assistant (Media)
To the Honourable Minister of Foreign Affairs