Nigeria’s Job Creation Strategy Driven by Macroeconomic Reforms, Private-Sector Growth — Minister

By Iyojo Ameh

Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has reiterated that the country’s job-creation strategy is anchored on comprehensive macroeconomic reforms and the expansion of 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, according to a press release signed by Alkasim Abdulkadir, Special Assistant on Media to the Honourable Minister of Foreign Affairs.

Tuggar explained that the federal government’s approach to employment generation focuses on restoring macroeconomic stability and creating clear, investable pathways for private-sector participation.

He noted that sustainable job creation can only be achieved by strengthening confidence in the economy and enabling long-term private investment.

He outlined major reforms already implemented by the Tinubu administration, including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and ongoing power-sector restructuring aimed at separating electricity generation, transmission, and distribution.

According to him, these measures are intended to enhance transparency, reduce structural distortions, and attract investment into energy-intensive and labour-absorbing sectors.

The minister further disclosed that the government is implementing comprehensive tax reforms designed to improve efficiency, enhance policy predictability, and boost Nigeria’s competitiveness as a preferred destination for business and investment.

Speaking on Nigeria’s role in regional economic integration, Tuggar referenced the country’s hosting of the West Africa Economic Summit (WAES), noting that the summit was designed to close information gaps by equipping private-sector players across West Africa with practical insights into regional economic frameworks and opportunities.

He cited the West African Power Pool and other enabling regulatory instruments as key tools for driving regional investment and industrial development.

While emphasising that government’s primary responsibility is to provide stable and enabling conditions, the minister maintained that the private sector remains the main driver of job creation.

He observed that emerging local production ecosystems are increasingly transforming raw materials into finished products, supported by stronger linkages between labour, finance, and markets. These trends, he said, are already creating expanded opportunities for women and young people.

Tuggar also cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core objective of economic integration.

He stressed that deepening intra-African trade, strengthening industrial linkages, and developing regional value chains are essential for achieving sustained economic growth and employment across the continent.

He concluded by reaffirming Nigeria’s commitment to reforms that build confidence, unlock private capital, and position the economy as a platform for inclusive growth and job creation in Africa.