By: Goodluck E. Adubazi, Abuja.

Nigeria has anchored its job-creation strategy on sweeping macroeconomic reforms and private-sector–led growth, the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has said.

Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, the Minister explained that the Tinubu Administration is prioritising economic stability as the foundation for sustainable employment generation.

According to him, the government’s approach centres on restoring macroeconomic balance and creating clear, investable pathways for the private sector to expand and absorb labour at scale.
He pointed to key reforms already underway, including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and the restructuring of the power sector through the unbundling of generation, transmission, and distribution.

These measures, he said, are aimed at improving transparency, reducing long-standing distortions, and attracting long-term private investment, particularly in energy-intensive and job-rich industries.

The Minister also disclosed that comprehensive tax reforms are being implemented to enhance efficiency, predictability, and Nigeria’s overall competitiveness as a destination for business and investment.
Referencing Nigeria’s recent hosting of the West Africa Economic Summit (WAES), Ambassador Tuggar noted that the initiative was designed to close information gaps by equipping private-sector players across the region with practical knowledge of regional frameworks and opportunities. These include mechanisms such as the West African Power Pool and other enabling regulatory instruments that support cross-border investment and growth.

He stressed 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 highlighted the emergence of local production ecosystems that are increasingly transforming raw materials into finished goods, supported by stronger linkages between labour, finance, and markets.

These developments, he said, are already creating expanded opportunities for women and young people.
The Foreign Affairs Minister further cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core mandate of economic integration. He underscored the importance of deepening intra-African trade, industrial linkages, and regional value chains to sustain long-term growth and employment across the continent.

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