Nigeria’s Job-Creation Strategy Anchored On Macroeconomic Reform and Private-Sector Growth —Tuggar

Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar has outlined the country’s job-creation strategy, emphasising that sustainable employment growth is being driven by far-reaching macroeconomic reforms under the Tinubu Administration.

Speaking at the Africa Jobs Engine Panel on the margins of the World Economic Forum, the Minister explained that Nigeria’s approach is focused on restoring macroeconomic stability and creating clear, investable pathways for the private sector.

He highlighted recent reforms, including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and ongoing power-sector restructuring that separates generation, transmission, and distribution.

According to the Minister, these measures are designed to improve transparency, reduce distortions, and attract long-term private investment, particularly in energy-intensive and job-rich sectors.

The Minister also noted that comprehensive tax reforms are underway to improve efficiency, enhance predictability, and strengthen Nigeria’s competitiveness as a destination for business and investment.

Referencing Nigeria’s hosting of the West Africa Economic Summit (WAES), he stated that the summit was conceived to bridge information gaps by equipping the private sector across the region with practical knowledge of regional frameworks and opportunities, including the West African Power Pool and other enabling regulatory instruments.

He stressed that while government’s responsibility is to provide stable and enabling conditions, the private sector remains the primary engine of job creation.

In this context, the Minister pointed to the emergence of local production ecosystems that are increasingly converting raw materials into finished goods, supported by stronger linkages between labour, finance, and markets. These developments, he noted, are already expanding opportunities for women and young people.

The Minister further cautioned that the African Continental Free Trade Area should remain firmly focused on its core mandate of economic integration.

He underscored that deepening intra-African trade, industrial linkages, and value chains is essential to sustaining long-term growth and employment across the continent.

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