Unlocking sustainable growth in Africa depends on how effectively policy reform, private capital and regional integration are aligned to create jobs at scale, Nigeria’s Foreign Minister Yusuf Maitama Tuggar said during a panel discussion in Davos, Switzerland.
Speaking at the “Africa’s Job Engine” panel on the sidelines of the World Economic Forum, Tuggar joined Ethiopian Finance Minister Ahmed Shide, CNBC Africa’s Godfrey Mutizwa and Angela Odour Lungati, executive director of Ushahidi, to examine how African economies can convert growth into employment.
Tuggar outlined Nigeria’s approach to job creation, focusing on macroeconomic reforms under President Bola Ahmed Tinubu’s administration.
These include the stabilization of the foreign exchange regime, the removal of fuel subsidies and reforms in the power sector that separate generation, transmission and distribution.
He said these steps are creating clearer entry points for private investment.
He also pointed to ongoing tax reforms aimed at improving efficiency, predictability and competitiveness for businesses operating in Nigeria.
Tuggar connected these domestic reforms to regional opportunity, referencing Nigeria’s hosting of the West Africa Economic Summit.
The event focused on helping the private sector understand and navigate frameworks such as the West African Power Pool and other enabling regulations.
He noted that policy tools only deliver results when businesses know how to use them.
He said the government’s role is to create the right conditions for growth, while the private sector must lead in creating jobs.
Tuggar highlighted Nigeria’s growing local production ecosystems, where raw materials are increasingly being turned into finished goods.
These systems are supported by stronger links between labor, finance and markets and are already providing opportunities for women and young people.
He added that the African Continental Free Trade Area must stay focused on advancing trade and industrial integration in order to support sustainable employment and economic growth across the continent.
Reporting by Felix Tih in Davos, Switzerland
