January 21, (THEWILL) — The Federal Government of Nigeria has stated that the private sector remains the main engine of job creation in the country, driven by macroeconomic reforms under President Bola Tinubu’s administration aimed at restoring stability and unlocking investment-led growth.
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, made this known while speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, where he outlined key policy actions aimed at restoring economic stability and expanding employment opportunities.
According to him, recent reforms, including foreign exchange stabilisation, fuel subsidy removal, power sector restructuring, and ongoing tax reforms, are designed to improve transparency, strengthen investor confidence, and create clear, investable pathways for long-term private investment, particularly in job-rich and energy-intensive sectors.
He also highlighted Nigeria’s hosting of the West Africa Economic Summit as part of efforts to equip the private sector with practical knowledge of regional opportunities and regulatory frameworks, stressing that sustainable job creation remains largely driven by private enterprise.
The minister reaffirmed Nigeria’s commitment to reforms that unlock private capital and promote inclusive growth, while urging African countries to ensure that the African Continental Free Trade Area (AfCFTA) remains focused on deepening economic integration, boosting trade, and strengthening value chains across the continent.
Tuggar said the Tinubu administration is determined to position Nigeria as a hub for investment-led growth that delivers jobs, productivity, and shared prosperity for citizens.
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