Nigeria’s Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has said the country’s strategy for sustainable job creation is firmly anchored on macroeconomic reforms and private-sector led growth under the administration of President Bola Ahmed Tinubu.
The Minister stated this while speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, where he outlined Nigeria’s reform agenda aimed at restoring macroeconomic stability and unlocking long-term employment opportunities.
According to Ambassador Tuggar, recent policy actions including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and ongoing reforms in the power sector are designed to correct structural distortions and create a transparent, investable economic environment.
He explained that the restructuring of the power sector, which clearly separates generation, transmission, and distribution, is critical to attracting private investment, particularly in energy-intensive and job-rich industries capable of absorbing large segments of the labour force.
The Minister also disclosed that comprehensive tax reforms are underway to improve efficiency, enhance predictability, and boost Nigeria’s competitiveness as a destination for both domestic and foreign investment.
Highlighting Nigeria’s hosting of the West Africa Economic Summit (WAES), Ambassador Tuggar said the initiative was conceived to bridge information gaps by equipping private-sector actors across the region with practical knowledge of regional frameworks and opportunities, including the West African Power Pool and other enabling regulatory instruments.
He emphasised that while government’s role is to provide stable and enabling conditions, the private sector remains the primary engine of job creation. In this regard, he pointed to the growing emergence of local production ecosystems that are increasingly transforming raw materials into finished goods through stronger linkages between labour, finance, and markets.
According to him, these developments are already expanding employment opportunities for women and young people across key sectors of the economy.
The Foreign Affairs Minister also cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core mandate of economic integration, stressing that deepening intra-African trade, industrial linkages, and regional value chains is essential for sustained growth and employment across the continent.
He reaffirmed Nigeria’s commitment to reforms that strengthen investor confidence, mobilise private capital, and position the country as a platform for inclusive growth and job creation in Africa.
