President Bola Ahmed Tinubu welcomes Mastercard partnership to train five million Nigerian businesses and empower tech-savvy youth, advancing digital inclusion and economic growth

President Bola Ahmed Tinubu received a delegation from Mastercard led by its Global Chief Executive Officer Michael Miebach at the State House in Abuja on Tuesday 23 June 2026, where he described Nigeria’s youthful population as the country’s greatest asset and warmly welcomed proposals to equip millions of businesses with vital digital skills.

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The 72-year-old Nigerian leader, who has prioritised economic reforms since assuming office, assured the Mastercard team that the country’s repositioned economy stands ready to integrate fully into the global market through empowered youths and small enterprises.

Tinubu expressed delight at the company’s familiarity with the Nigerian terrain and its longstanding presence since 2011. He noted the gradual shift in business orientation, with more small firms registering and embracing technology amid ongoing formalisation of the largely informal sector.

“I am glad that you are very familiar with the terrain. I can classify you as a Nigerian,” Tinubu said, adding that opportunities continue to spread across the country.

The president further emphasised the importance of collaboration with institutions such as the Bank of Industry, which holds a comprehensive database of micro, small, and medium enterprises. He pledged continued government support for Mastercard’s initiatives targeting the youth.

Michael Miebach, who personally established Mastercard’s initial operations in Nigeria, described the visit as something of a homecoming. He highlighted the company’s contributions, including preventing $200 million in fraud and generating $2 billion in foreign exchange, while committing to further empower the nation’s estimated 40 million small businesses.

“We have a three-year programme for small businesses. A technical workshop has been planned for this, so it is not just talk but action and impact,” Miebach stated.

Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele reinforced the alignment between the partnership and President Tinubu’s reforms, noting efforts to digitise government services and empower at least three million youths.

He pointed to the surge in informal business registrations, exceeding 10,000 daily applications in recent months, as evidence of growing opportunities.

This engagement builds on Mastercard’s established footprint in Nigeria’s fintech ecosystem, where five of Africa’s nine unicorns are based, and reflects broader government moves to harness the country’s youthful demographic dividend amid challenges such as unemployment and the need for digital inclusion.

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The discussions underscored a shared vision for a thriving intra-African digital economy, with commitments to enhance payment systems, credit access, and cybersecurity resilience through initiatives like a proposed Cyber Centre of Excellence.