President Bola Tinubu will, on Saturday, depart Abuja for Berlin, Germany, to attend the G20 Compact with Africa (CwA) Conference hosted by German Chancellor, Olaf Scholz, on November 20,2023.
During the conference, according to a statement issued on Friday by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, Tinubu will join other Heads of State and Government of CwA member countries, bilateral partners, as well as heads of international organisations 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 G20 CwA Conference will be taking place alongside the fourth G20 investment summit, co-hosted by the German government and German business associations.
“In view of President Bola Tinubu’s globally recognised 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 also affirms 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 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 organisations who were part of the official delegation of the German Chancellor to Nigeria,” Ngelale said.
Recall that in his discussions with Scholz in October, Tinubu highlighted the imminent need for more German companies to invest in the Nigerian market across multiple sectors of the economy, such as transportation, mining and energy, 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 and Minister of Finance, Mr. Wale Edun; Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite and Minister of Power, Chief Adebayo Adelabu.
Tinubu will return to the country following the conclusion of the conference.
November 17, 2023