Mastercard wants to train five million Nigerian businesses in digital skills. The plan covers everything from getting a business online to keeping it safe from hackers, and it has the backing of President Bola Tinubu, the announcement came on Tuesday when Mastercard’s global CEO, Michael Miebach, led a company delegation to meet the President at the State House in Abuja. Miebach said Mastercard already has a framework ready to support up to 40 million small businesses in Nigeria with digital tools, and the five million training target is the first major push under that plan.
Miebach explained that many small business owners want to sell online but do not know where to start. He said the plan is not just about helping shops open digital storefronts. It also covers teaching owners how to stay safe from online fraud and cybercrime.
“Many small businesses would like to have a digital part of their business, and they don’t know how to do that,” Miebach said. He added that Mastercard has a three year programme already mapped out, with technical workshops planned to make sure the training leads to real results and not just talk. Beyond training, Mastercard plans to build a Cyber Centre of Excellence in Nigeria. This centre will share information about online threats, help respond quickly when attacks happen, and watch out for new risks linked to artificial intelligence and other emerging tech.
Miebach also shared some numbers about Mastercard’s current work in Nigeria. He said the company already helps prevent about 200 million dollars in fraud every year in the country, and helps bring in around 2 billion dollars in foreign exchange annually.
Tinubu welcomed the proposal and praised Nigeria’s young population as a major strength for the country’s digital future. He told the Mastercard delegation that Nigeria sees the company as a long term partner, not just a visitor. Minister of Finance, Taiwo Oyedele, also spoke at the meeting. He said government reforms are pushing more informal businesses to register formally, with over 10,000 businesses applying for registration every day in recent months. He added that this creates more businesses that can benefit from digital tools, credit, and online payment systems.
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Oyedele also pointed out that five of Africa’s nine fintech unicorns are based in Nigeria, showing the country’s growing weight in the continent’s tech and finance space. If the plan rolls out as described, business owners across Nigeria, especially those in the informal sector, could get free or subsidised training on going digital and staying safe online. This includes help with setting up online payments, building a digital presence, and avoiding common cyber scams that target small businesses. No exact start date, registration process, or cost details have been announced yet. Business owners interested in joining should watch for official updates from Mastercard or government channels rather than third party links claiming to offer registration, since scammers often exploit big announcements like this one.
Mastercard has made bold promises before about its commitment to Nigeria’s economy, and this latest plan adds another layer to that. The real test will be whether the three year programme delivers visible results for the millions of small businesses it hopes to reach, rather than staying as another well meaning announcement
