What Tinubu And Mastercard CEO Secretly Discussed Could Transform Millions Of Nigerian Businesses

President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to empowering Nigerian youths and small businesses through digital innovation following a high-level meeting with Mastercard’s Global Chief Executive Officer, Michael Miebach, at the Presidential Villa in Abuja.
During the meeting, President Tinubu welcomed Mastercard’s proposal to train five million businesses across Nigeria with digital skills, describing the country’s youthful population as its greatest asset and a key driver of future economic growth.
The President said ongoing economic reforms have repositioned Nigeria for greater participation in the global economy, stressing that the formalisation of small businesses will unlock fresh opportunities for investment, job creation, and digital transformation.
Tinubu noted that more entrepreneurs are embracing technology and registering their businesses, assuring Mastercard of government support in expanding digital inclusion across the country.
He also highlighted the importance of payment platforms and financial inclusion for Micro, Small and Medium Enterprises (MSMEs), urging stronger collaboration with institutions such as the Bank of Industry to accelerate growth in the sector.
Speaking at the meeting, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the administration’s reforms have created significant opportunities in digital payments, credit systems, and youth empowerment. According to him, over 10,000 informal businesses have been applying for registration daily in recent months, reflecting growing confidence in the economy.
Oyedele added that Nigeria’s expanding credit economy—including mortgages, consumer loans, student loans, and small-business financing—presents major opportunities for Mastercard and other financial technology players.
In his remarks, Mastercard CEO Michael Miebach praised the alignment of Nigeria’s fiscal and monetary policies, revealing that the company has maintained operations in the country since 2011 and continues to witness strong growth.
He disclosed that Mastercard currently helps prevent about $200 million in fraud annually and facilitates roughly $2 billion in foreign exchange inflows into Nigeria. Miebach also expressed confidence in Nigeria’s potential to become Africa’s leading digital economy.
The Mastercard chief further announced plans to empower up to 40 million small businesses with digital capabilities through a structured three-year programme, emphasizing that the initiative would focus on practical skills, cybersecurity awareness, and sustainable business growth.
He assured President Tinubu of Mastercard’s continued investment in digital inclusion, cybersecurity, artificial intelligence risk management, and resilience, describing the company’s engagement with Nigeria as one focused on long-term impact rather than mere promises.