By John Tubai
Abuja, Nigeria: Nigeria’s strategy for creating sustainable employment is anchored on deep macroeconomic reforms and the expansion of private-sector opportunities, the Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has stated.
Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, Minister Tuggar highlighted that the Tinubu Administration is prioritising macroeconomic stability and clear investment pathways to stimulate job growth.
This was contained in a statement signed by Alkasim Abdulkadir SA Media to the Honourable Minister of Foreign Affairs
According to the statement, the minister cited key reforms, including the stabilisation of the foreign exchange regime, removal of fuel subsidies, and the ongoing restructuring of the power sector separating generation, transmission, and distribution. According to the Minister, these measures aim to improve transparency, reduce market distortions, and attract long-term private investment, particularly in energy-intensive and job-rich industries.
Minister Tuggar also underscored ongoing tax reforms aimed at improving efficiency, predictability, and Nigeria’s competitiveness as a top investment destination.
Referencing Nigeria’s hosting of the West Africa Economic Summit (WAES), he said the summit was designed to equip the private sector with practical knowledge of regional frameworks and opportunities, including the West African Power Pool and other regulatory instruments that enable cross-border business growth.
“The government’s role is to provide stable and enabling conditions, but the private sector remains the primary engine of job creation,” the Minister said. He highlighted the rise of local production ecosystems converting raw materials into finished goods, creating stronger linkages between labour, finance, and markets, while expanding opportunities for women and youth.
Minister Tuggar also cautioned that the African Continental Free Trade Area (AfCFTA) must maintain focus on economic integration, stressing that intra-African trade, industrial linkages, and value chains are crucial for sustaining long-term growth and employment across the continent.
He concluded by reaffirming Nigeria’s commitment to reforms that boost confidence, unlock private capital, and position the country as a platform for inclusive growth and job creation across Africa.
