RismadarVoice Reporters
June 23, 2026
President Bola Ahmed Tinubu has assured global payment technology giant Mastercard that Nigeria’s youthful population remains a major asset capable of driving innovation, digital transformation, and economic growth.
The President gave the assurance on Tuesday while receiving a delegation from Mastercard led by its Global Chief Executive Officer, Michael Miebach, at the State House, Abuja.
Welcoming Mastercard’s proposal to train millions of Nigerian businesses in digital skills, Tinubu said his administration has repositioned and stabilised the economy to enable greater participation in the global digital economy while creating opportunities for young people and small businesses.
He noted that the ongoing formalisation of Nigeria’s vast informal sector is opening new opportunities for investment, employment, digital inclusion, and economic growth.
“The most important asset is our youth,” the President said, commending Mastercard’s efforts in supporting young Nigerians and small businesses through technology-driven solutions.
Tinubu also emphasised the importance of digital payment platforms in expanding financial inclusion and strengthening micro, small and medium-scale enterprises (MSMEs), assuring the company of continued government support.
Speaking at the meeting, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the impact of the administration’s economic reforms, noting that more than 10,000 informal businesses now apply for registration daily as a result of ongoing fiscal and tax reforms.
He said the reforms are creating opportunities in digital payments, credit systems, and business formalisation, adding that Nigeria remains a major hub for financial technology innovation, with five of Africa’s nine fintech unicorns operating in the country.
In his remarks, Mastercard CEO Michael Miebach reaffirmed the company’s commitment to Nigeria, describing the country as one of the most important markets in Africa.
Miebach disclosed that Mastercard currently helps prevent about $200 million in fraud annually and contributes approximately $2 billion in foreign exchange inflows into Nigeria’s economy.
He said the company has developed a framework aimed at empowering up to 40 million small businesses in Nigeria with digital capabilities and announced plans for a three-year programme focused on capacity building, cybersecurity awareness, and digital business development.
The Mastercard chief also pledged support for Nigeria’s economic reforms through investments in digital inclusion, cybersecurity, trust, resilience, and innovation, expressing confidence in the country’s potential to become Africa’s leading digital economy.
The meeting underscored ongoing collaboration between the Federal Government and global technology firms to deepen digital transformation, financial inclusion, and economic development across Nigeria.
