President Bola Tinubu is scheduled to depart from Abuja this Saturday for Berlin, Germany, where he will actively participate in the G20 Compact with Africa (CwA) Conference on November 20, 2023. The announcement was made by the President’s spokesperson on Media and Publicity, Ajuri Ngelale.
The conference, hosted by German Chancellor Olaf Scholz, is expected to bring together President Tinubu and other Heads of State and Governments from CwA member countries, bilateral partners, and Heads of International Organizations. Their discussions will revolve around the immediate enhancement of economic and business cooperation, with a focus on identifying concrete measures to foster investments in critical areas such as energy, trade, infrastructure, and new technologies.
In a statement released by Ajuri, it was emphasized that the G20 CwA Conference will occur simultaneously with the Fourth G20 Investment Summit, co-hosted by the German government and German business associations.
According to Ajuri, the global resonance of President Tinubu’s commitment to attracting foreign direct investment in Nigeria is noteworthy. Leading Nigeria’s delegation at the investment summit, the President is set to elevate the mission to new heights.
Accompanying President Tinubu on this diplomatic mission are key figures in his administration, including the Minister of Foreign Affairs, Amb. Yusuf Tuggar; the Coordinating Minister of the Economy and Minister of Finance, Wale Edun; the Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite; and the Minister of Power, Chief Adebayo Adelabu.
Ajuri remarked, “This visit also affirms President Tinubu’s commitment to diplomatic reciprocity as the invitation to Germany from the German Chancellor is being honored following the visit of the German Chancellor to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023.”
“Leveraging on the opportunity presented by the Fourth G20 Investment Summit, the Nigerian delegation will follow up on productive meetings previously conducted with high-ranking representatives from German business organizations who were part of the official delegation of the German Chancellor to Nigeria,” he added.
During discussions with Chancellor Scholz in October, President Tinubu underscored the urgent need for more German companies to invest in the Nigerian market across multiple sectors, including transportation, mining, and energy. He highlighted that Nigeria remains Germany’s second-largest trading partner in Africa.
“Nigeria and Germany, being the largest economies in Africa and Europe, respectively, recorded an increase in bilateral trade volume from two to three billion Euros between 2021 and 2022,” Ajuri noted.
President Tinubu is expected to return to Nigeria following the conclusion of the G20 Compact with Africa Conference. The diplomatic endeavors undertaken during this international engagement are poised to further strengthen economic ties between Nigeria and Germany, fostering mutually beneficial collaborations for the growth and development of both nations.
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