Energy, Trade, and Investment Top Agenda as President Tinubu Strengthens Economic Ties with Germany
President Bola Tinubu is set to depart Abuja on Saturday for Berlin, Germany, where he will attend the G20 Compact with Africa (CwA) Conference on November 20, 2023. The conference, hosted by German Chancellor Olaf Scholz, will bring together Heads of State and Government of CwA member countries, bilateral partners, and Heads of International Organizations to discuss strategies for enhancing economic and business cooperation.
In a statement released by Chief Ajuri Ngelale Special Adviser to the President (Media & Publicity), the primary focus of the conference will be on concrete measures to boost investments in critical sectors such as energy, trade, infrastructure, and new technologies. President Tinubu, recognized globally for his commitment to attracting foreign direct investment to Nigeria, will lead the Nigerian delegation to actively participate in the Fourth G20 Investment Summit, co-hosted by the German government and German business associations.
This visit underscores President Tinubu’s dedication to diplomatic reciprocity, following Chancellor Scholz’s visit to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023. Leveraging the opportunity provided by the investment summit, the Nigerian delegation aims to build on productive meetings with high-ranking representatives from German business organizations during the German Chancellor’s visit to Nigeria.
In discussions with Chancellor Scholz in October, President Tinubu emphasized the need for increased German investment in Nigeria across various sectors, including transportation, mining, and energy. Notably, Nigeria stands as Germany’s second-largest trading partner in Africa.
The Nigerian delegation accompanying President Tinubu includes the Minister of Foreign Affairs, Amb. Yusuf Tuggar; the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun; the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite; and the Minister of Power, Chief Adebayo Adelabu.
President Tinubu is expected to return to Nigeria following the conclusion of the G20 Compact with Africa Conference, further solidifying Nigeria’s position on the global economic stage.
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