President Bola Tinubu is set to embark on an official visit to Berlin, Germany, on Saturday, November 20, 2023, to participate in the G20 Compact with Africa (CwA) Conference.
According to Special Adviser to the President Media and Publicity Chief Ajuri Ngelale, this international gathering, hosted by German Chancellor Olaf Scholz, will bring together Heads of State and Government from CwA member countries, bilateral partners, and Heads of International Organizations.
The primary objective of the conference is to deliberate on strategies for enhancing economic and business cooperation, with a specific emphasis on implementing concrete measures to stimulate investments in crucial sectors such as energy, trade, infrastructure, and new technologies.
Concurrently, the G20 CwA Conference will coincide with the Fourth G20 Investment Summit, co-hosted by the German government and German business associations. President Tinubu, known for his global efforts to attract foreign direct investment to Nigeria, will lead the Nigerian delegation in participating in this investment summit to further bolster economic ties.
This visit underscores President Tinubu’s commitment to diplomatic reciprocity, reciprocating the invitation extended by Chancellor Scholz following his visit to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023.
Building on productive discussions held during Chancellor Scholz’s visit to Nigeria, the Nigerian delegation will engage with high-ranking representatives from German business organizations, continuing the dialogue initiated during the German Chancellor’s official delegation to Nigeria.
In his prior discussions with Chancellor Scholz in October, President Tinubu emphasized the urgent need for increased German investments in various sectors of the Nigerian economy, including transportation, mining, and energy. Nigeria currently stands as Germany’s second-largest trading partner in Africa.
Noteworthy is the positive trajectory in bilateral trade between Nigeria and Germany, the largest economies in Africa and Europe, respectively. Bilateral trade volume increased from two to three billion Euros between 2021 and 2022.
Accompanying President Tinubu on this important diplomatic mission are key members of his cabinet, including 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.
President Tinubu is expected to return to Nigeria upon the conclusion of the G20 Compact with Africa Conference, having contributed to discussions aimed at fostering economic growth and cooperation between Nigeria and Germany.
