President Bola Tinubu on Tuesday, June 23, 2026, welcomed a proposal from Mastercard to train five million businesses in digital skills, highlighting Nigeria's youth population as the nation's greatest asset. The announcement came during a meeting with Mastercard's global CEO, Michael Miebach, at the State House in Abuja.
Mastercard's Proposal and Tinubu's Response
Mastercard, headquartered in New York, United States, is accelerating Africa’s digital economy by supporting its fast-growing tech ecosystem. The company plans to train hundreds of businesses in digital skills, supported by the Tinubu administration. Tinubu assured foreign investors that Nigeria's “ready-to-learn and tech-savvy workforce” can easily integrate into the global market.
“I am glad that you are very familiar with the terrain. I can classify you as a Nigerian,” Tinubu told Miebach. “MasterCard has a very big reputation in financial management, and opportunities are spreading in Nigeria.”
Focus on Youth and Small Businesses
The Nigerian leader noted that the country's economy had been repositioned and stabilised to fully participate in the global economy, with a focus on empowering youths and small businesses with digital skills and tools. He stated that the ongoing formalisation of Nigeria's largely informal small-business sector will create more opportunities for digital transitions, investments, employment, and growth.
“The most important asset is our youth,” Tinubu added. “I missed one thing in your remark: whether you met with the Bank of Industry (BOI). BOI has a database of Micro, Small, and Medium Enterprises. Payment plans and platforms are very necessary for the inclusion of small and medium-scale businesses.”
Commitment to Partnership
Tinubu assured that more Nigerian youths will be empowered with digital skills to tackle present and future challenges. “What you have been doing with our young population is commendable, and we will continue to support that in every form. As the host country, the agreements we have with you are valid, and I want you to see us as partners,” he said.
The President also noted that the business orientation is gradually changing, with more small businesses registering and embracing technology.
Mastercard Foundation's FAST Programme
Earlier, Legit.ng reported that the Mastercard Foundation opened applications for the third FAST programme cycle, offering grants to young African entrepreneurs. The initiative targets young and early-stage entrepreneurs across Africa, offering funding ranging from about $3,000 to $15,000, depending on their stage. Eligible applicants, including alumni of programmes like YALI and ALA, receive funds, training, mentorship, and networking opportunities.
