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HomeEconomyNigerian President Departs Abuja For Germany on Saturday For G20 Summit

Nigerian President Departs Abuja For Germany on Saturday For G20 Summit

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By Goodluck Ikiebe

President Bola Tinubu will depart Abuja for Berlin, Germany, on Saturday to attend the G-20 Compact with Africa (CwA) Conference on November 20, 2023, hosted by German Chancellor Olaf Scholz.

During the conference, President Tinubu will join other Heads of State and Government of CwA member countries, bilateral partners, as well as Heads of International Organizations to deliberate on the immediate enhancement of economic and business cooperation with a view to outlining concrete measures to boost investments in critical areas such as energy, trade, infrastructure, and new technologies, among others.

The G-20 CwA Conference will be taking place alongside the Fourth G-20 Investment Summit, co-hosted by the German government and German business associations.

In view of President Bola Tinubu’s globally recognized drive for foreign direct investment in Nigeria, the President will sustain the momentum and advance the mission further as he leads Nigeria’s delegation to participate in the investment summit.

This visit, according to his media aide, Ajuri Ngelale, also affirmed President Tinubu’s commitment to diplomatic reciprocity as the invitation to Germany from the German Chancellor is being honoured following the visit of the German Chancellor to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023.

Leveraging 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.

In his discussions with Chancellor Scholz in October, President Tinubu highlighted the imminent need for more German companies to invest in the Nigerian market across multiple sectors of the Nigerian economy, such as transportation, mining, and energy, while noting 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.

The President will be accompanied by the Minister of Foreign Affairs, Amb. Yusuf Tuggar; the Coordinating Minister of the Economy, 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 will return to the country at the end of the conference.

Global News Network Correspondent
Global News Network Correspondenthttps://globalnewsnetwork.com.ng
GNN is a News blog based in Nigeria to educate, inform and Analyse issues of interest like Politics, Health, Solid Minerals, Energy and Power, Transportation, Defence and Security, Sports and Entertainment to our teeming audience. Stories are generated by seasoned veteran Editors and Journalists. We Say It As It Is.

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