President Bola Ahmed Tinubu delivered a compelling message to international investors in Berlin, Germany, underscoring Nigeria’s invaluable assets beyond natural resources.
Speaking at the G20 Compact with Africa Economic Conference, he emphasized the country’s highly educated, skilled, and industrious population as a primary advantage in the global competition for investments.
President Tinubu highlighted the pivotal role of the rule of law in attracting foreign investments while emphasizing Nigeria’s energetic youth and well-educated populace as the greatest incentives for investors. Drawing parallels with China’s economic resurgence, he expressed Nigeria’s commitment to natural gas development, hydrogen production, and ongoing financial reforms to facilitate foreign investments.
Assuring potential investors, the President emphasized Nigeria’s readiness for partnerships, citing the country’s vibrant youth population, expansive market, and strong political will for economic development. He dispelled outdated notions of business disincentivization and stressed the importance of forging partnerships based on a true understanding of Nigeria’s capabilities.
In the context of inviting German automobile firms to establish manufacturing plants in Nigeria, President Tinubu extended an invitation to German businesses to explore opportunities across various sectors following the successful visit of the German Chancellor to Nigeria in October. He reassured investors of Nigeria’s departure from restrictive policies, enabling the free movement of capital.
German Chancellor Olaf Scholz acknowledged the evolving economic relations between developed and developing nations, expressing Germany’s commitment to mutually beneficial partnerships with Nigeria and Africa.
He highlighted Germany’s focus on investments that benefit both parties, particularly in the context of climate neutrality and the increasing demand for green hydrogen. Chancellor Scholz identified fantastic opportunities for collaboration between German and African companies, particularly in renewable energy.
The panel discussion included insights from President Alassane Ouattara of Côte d’Ivoire, Prime Minister Aziz Akhannouch of Morocco, President Macky Sall of Senegal, Sabine Dall’Omo (Chairperson of Afrika-Verein), and the CEO of Sub-Saharan Africa, Siemens AG. Subsequently, President Tinubu hosted prominent German business executives at a Nigeria-Germany Business Roundtable in Berlin.
