Tinubu’s Reforms Power Nigeria’s Job Drive As Tuggar Bets On Private Sector
In an economy long weighed down by subsidies, forex instability and power gaps, Nigeria is now betting that tough reforms, rather than handouts, will unlock millions of jobs.
Nigeria’s Foreign Minister, Ambassador Yusuf Maitama Tuggar, has said the country’s job-creation strategy is being deliberately anchored on macroeconomic reform and a stronger, more confident private sector.
Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, Tuggar argued that sustainable employment cannot be built on distortions, but on stability, transparency and investment-friendly policies.
He explained that the Tinubu administration’s bold decisions, including stabilising the foreign exchange regime, removing fuel subsidies and restructuring the power sector into clear generation, transmission and distribution segments, are beginning to reshape the economic landscape.
According to the minister, these reforms are designed to reduce inefficiencies, attract long-term investors and stimulate job-rich sectors such as energy, manufacturing and technology.
Tuggar also pointed to ongoing tax reforms aimed at making Nigeria more predictable and competitive for businesses, stressing that clearer rules would encourage both local and foreign investment.
Referencing Nigeria’s recent hosting of the West Africa Economic Summit (WAES), he said the platform was created to deepen private-sector understanding of regional opportunities such as the West African Power Pool and other regulatory frameworks.
While acknowledging that government must create a stable environment, the minister emphasised that real job creation ultimately rests with businesses particularly those building local value chains and turning raw materials into finished products.
He further urged that the African Continental Free Trade Area should remain focused on economic integration, noting that stronger intra-African trade and industrial linkages are key to long-term growth and employment.
Tuggar concluded that Nigeria is firmly committed to reforms that build confidence, unlock capital and position the country as a hub for inclusive economic growth in Africa.
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