PRESIDENT TINUBU TO ATTEND G20 ‘COMPACT WITH AFRICA’ CONFERENCE IN BERLIN ON SATURDAY
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On Saturday, President Bola Tinubu will leave Abuja for Berlin, Germany, where he will attend the G20 Compact with Africa (CwA) Conference, which German Chancellor Olaf Scholz is hosting on November 20, 2023.
President Tinubu will discuss the immediate improvement of economic and business cooperation with other heads of state and government of CwA member nations, bilateral partners, and heads of international organisations during the conference. The goal is to outline specific steps to increase investments in vital sectors like energy, trade, infrastructure, and new technologies, among others.
Co-hosted by German industry groupings and the German government, the Fourth G20 Investment Summit will coincide with the G20 CwA Conference.
As he leads Nigeria’s team to the investment summit, President Bola Tinubu will maintain the momentum and continue the mission in light of his well-acknowledged push for foreign direct investment in Nigeria.
The fact that the German Chancellor’s invitation to Germany is being honoured in the wake of the German Chancellor’s visit to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023, further demonstrates President Tinubu’s dedication to diplomatic reciprocity.
Making use of the chance provided by the Fourth G20 Investment Summit, the Nigerian delegation will build on fruitful previous exchanges with senior executives from German business associations who were a part of the German Chancellor’s official delegation to Nigeria.
President Tinubu noted that Nigeria is still Germany’s second-largest trading partner in Africa during his talks with Chancellor Scholz in October. He also emphasised the urgent need for more German businesses to invest in the Nigerian market across a variety of Nigerian economic sectors, including transportation, mining, and energy.
The largest economies in Africa and Europe, Nigeria and Germany, respectively, saw a rise in bilateral trade volume from two to three billion euros between 2021 and 2022.
The Minister of Foreign Affairs, Amb. Yusuf Tuggar; the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite; and the Minister of Power, Chief Adebayo Adelabu, will accompany the President.
President Tinubu will return to the country following the conclusion of the conference.
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