President Bola Tinubu will depart Abuja for Berlin, Germany, on Saturday to attend the G20 Compact with Africa (CwA) Conference hosted by German Chancellor Olaf Scholz.
During the conference, which will take place on Monday, he 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. The aim is to outline concrete measures to boost investments in critical areas such as energy, trade, infrastructure, and new technologies, among others.
A statement issued on Friday by Ajuri Ngelale, Special Adviser to the President (Media & Publicity), informed that the G20 CwA Conference will be taking place alongside the Fourth G20 Investment Summit, co-hosted by the German government and German business associations.
It noted that the President will sustain the momentum for the investment drive and advance the mission further as he leads Nigeria’s delegation to participate in the investment summit.
According to the statement, the 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.
It further said that 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.
It recalled that in his discussions with Chancellor Scholz in October, 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. All the 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 statement maintained.
The President will be accompanied by 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.
He will return to the country following the conclusion of the conference.
