Reforms, Private Sector Key to Nigeria’s Job Creation – Tuggar

By Zainab Bakare
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, says Nigeria’s job-creation strategy is being driven by far-reaching macroeconomic reforms and a deliberate focus on private sector–led growth.

Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, Tuggar said the Tinubu administration is prioritizing the restoration of macroeconomic stability while creating clear and investable pathways for the private sector to generate sustainable employment.
According to him, the government’s approach centres on reforms that improve transparency, reduce structural distortions and unlock long-term private investment.

Key Economic Reforms

Tuggar listed major measures already underway, including the stabilisation of the foreign exchange regime, removal of fuel subsidies, and comprehensive power-sector reforms that separate electricity generation, transmission and distribution.

“These reforms are designed to create a predictable and efficient economic environment, particularly for energy-intensive and job-rich sectors,” he said.
The minister also disclosed that comprehensive tax reforms are being implemented to improve efficiency, enhance predictability and strengthen Nigeria’s competitiveness as a destination for business and investment.

Regional Integration and Private Sector Role

In a statement by the Senior Adviser on Media to the Minister, Alkasim Abdulkadir, Tuggar referenced Nigeria’s hosting of the West Africa Economic Summit (WAES), describing it as a platform to bridge information gaps and equip the private sector with practical knowledge of regional frameworks and opportunities.

He said initiatives such as the West African Power Pool and other regulatory instruments are critical to unlocking cross-border investment and growth.While reaffirming government’s responsibility to provide a stable and enabling environment, Tuggar stressed that the private sector remains the primary engine of job creation.

He highlighted the growth of local production ecosystems that are transforming raw materials into finished goods, supported by stronger linkages between labour, finance and markets. According to him, these developments are already expanding opportunities for women and young people.

AfCFTA and Long-Term Growth

The minister cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core mandate of economic integration.He said deepening intra-African trade, strengthening industrial linkages and building resilient value chains are essential for sustaining long-term growth and employment across the continent.

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