HighlightTrending Story

Ahead of G20 Compact Conference In Germany, Tinubu Departs Abuja On Saturday

"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"

987

In his bid to reposition Nigeria as the number one destination for foreign investors in Africa, President Bola Tinubu will on Saturday jet out to Germany for the G20 Compact with Africa (CwA) summit scheduled for November 20.

Tinubu will be attending the conference on the special invite from the German Chancellor Olaf Scholz.

This was disclosed by the Presidential spokesman, Chief Ajuri Ngelale in statement obtained by Persecond News on Friday.

According to the statement, President Tinubu, who also calls himself “as the number one marketer of the country”, is aimed at rolling out the welcome mat to investors to take advantage of the enormous opportunities in the transportation, mining, and energy sector.

“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 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 organizations who were part of the official delegation of the German Chancellor to Nigeria.

“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, all while noting that Nigeria remains Germany’s second largest trading partner in Africa,” he said.

Germany contributed a total trade volume of €3 billion in 2022 (up from €2 billion in 2021) and the European Union (EU), is Nigeria’s most important trading partner with total trade volume of €45,8 Billion.

Germany’s Foreign Direct Investment (FDI) in Nigeria will prospectively surpass the €1 billion mark.

There are 90 German companies present in Nigeria, creating around 1700 jobs directly and minimum 10-fold indirectly. All EU countries together have generated about 160, 000 jobs in Nigeria.

Tinubu will be accompanied on the trip by Mr Yusuf Tuggar, Minister of Foreign Affairs, Mr Wale Edun, Minister of Finance, Mrs Doris Uzoka-Anite, Minister of Trade, and Dr Adebayo Adelabu, the Minister of Power.

Leave a comment

Related Articles

Aso Rock: Pres. Tinubu chairs FEC meeting

The nation’s Federal Executive Council (FEC) meeting is currently underway at the...

Pres. Tinubu reinstates Prof. Nenibarini Zabbey as HYPREP Coordinator

About 48 hours after his removal, President Bola Tinubu has approved the...

Gov. Fubara’s spendings halted by Amaewhule-led Rivers Assembly

Speaker Martin Amaewhule of the Rivers State House of Assembly has put...

NiMet forecasts three-day rain, thunderstorms starting Monday, July 15

The Nigerian Meteorological Agency (NiMet) released its weather outlook on Sunday in...

e-CMR: Nigeria police bow to pressure, suspend enforcement on vehicle owners

In response to public criticism and demand, the Nigeria police have announced...

Dangote Refinery Set To Roll Out Petrol In August

Dangote Refinery says it has resolved the crude oil supply issues with...

Trump targeted in Pennsylvania rally shooting, Global leaders unite in condemnation

Former United States (US) President Donald Trump was abruptly escorted off stage...

Tinubu appoints Ajimobi’s son SA on livestock development, senator as special adviser on Senate matters

President Bola Tinubu has approved the appointment of Senator Bashir Lado Mohammed...

FG appoints 11 CEOs for parastatals, agencies

President Bola Tinubu has approved the appointments of Chief Executive Officers and...

Tinubu extols foremost nationalist, veteran journalist Osoba at 85

President Bola Tinubu has described former Governor of Ogun State, Aremo Olusegun...

Pres. Tinubu felicitates former PUNCH chair, Chief Ajibola Ogunshola, at 80

President Bola Tinubu has congratulated Chief Ajibola Olusanya Ogunshola, former Chairman of...

Updated: Abuja building collapse: Four people rescued as rescue operation continues

Rescue teams have rescued four people trapped in the debris of a...

Makinde presents staff of office to 43rd Olubadan, Tinubu, governors, Ooni, Sultan others grace occasion

Oyo State Gov. Seyi Makinde officially enthroned Oba Owolabi Olakulehin as the...

Securing financial autonomy for LGs is Tinubu’s greatest accomplishment, says Sen. Ndume

Sen. Ali Ndume, the Chief Whip of the Senate, has declared that...

Olubadan stool: At 89, Olakulehin coronated as 43rd Ibadan monarch

The 43rd traditional ruler of Ibadan, Oba Owolabi Akinloye Olakulehin, has officially...

Corps members escape death as NYSC hostel collapses in Ekiti

A devastating incident occurred at the National Youth Service Corps (NYSC) orientation...

Just in: Pres. Tinubu names National Theatre, Lagos, after Prof. Soyinka

President Bola Tinubu on Friday named the National Theatre in Lagos after...

Just in: Buhari’s Power Minister, Mamman, gets reprieve, N10bln bail

A Federal High Court in Abuja on Friday granted bail to former...

In Niger Republic, hundreds of inmates, including Boko Haram terrorists now on the loose

A violent uprising at the Koutoukalé prison in the neighboring Niger Republic,...