Odita Sunday 
Nigeria’s job creation drive hinges on macroeconomic stability, private sector growth, says Tuggar
Nigeria’s job-creation strategy is being driven by macroeconomic reforms and deliberate efforts to unlock private-sector investment, Yusuf Tuggar, Minister of Foreign Affairs has said.
Speaking at the Africa Jobs Engine Panel on the sidelines of the World Economic Forum, Tuggar said the Tinubu administration is prioritising structural reforms aimed at restoring macroeconomic stability and creating clear, investable pathways for businesses to expand and generate sustainable employment.
According to the minister, the government’s approach recognises the private sector as the primary engine of job creation, with the role of government focused on providing a stable, transparent and predictable economic environment.
He outlined key reforms already implemented, including the stabilisation of the foreign exchange regime, the removal of fuel subsidies, and ongoing restructuring of the power sector to clearly separate electricity generation, transmission and distribution.
“These measures are designed to eliminate long-standing distortions, improve transparency and attract long-term private capital, particularly into energy-intensive and labour-absorbing sectors of the economy”, Tuggar explained.
The minister also disclosed that comprehensive tax reforms are underway to improve efficiency, enhance predictability and strengthen Nigeria’s competitiveness as a destination for local and foreign investment.
On regional economic cooperation, Tuggar referenced Nigeria’s hosting of the West Africa Economic Summit (WAES), noting that the initiative was conceived to close information gaps that often limit private-sector participation in regional opportunities.
“The summit was designed to equip businesses across West Africa with practical knowledge of regional frameworks such as the West African Power Pool and other enabling regulatory instruments that support cross-border investment and trade”, he said.
While stressing that government must provide an enabling environment, Tuggar said Nigeria is already witnessing the emergence of local production ecosystems that are increasingly transforming raw materials into finished goods.
He noted that stronger linkages between labour, finance and markets are helping to deepen industrial capacity and expand employment opportunities, particularly for women and young people.
The foreign minister also cautioned that the African Continental Free Trade Area (AfCFTA) must remain focused on its core mandate of economic integration.
He said that deepening intra-African trade, strengthening industrial linkages and building resilient regional value chains are critical to sustaining long-term growth and employment across the continent.
Tuggar reaffirmed 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, not only for Nigerians but for Africa as a whole.
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