President Bola Tinubu will on Saturday depart Abuja for Berlin, Germany to attend the G20 Compact with Africa Conference.
The conference, scheduled for November 20, 2023, will be hosted by German Chancellor Olaf Scholz.
During the conference, President Tinubu will join other Heads of State and Government of CwA member countries, bilateral partners as well as Heads of International Organizations 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.
The G20 CwA Conference will be taking place alongside the Fourth G20 Investment Summit, co-hosted by the German Government and German business associations.
A statement by the Presidency on Friday said in view of 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.
It said the 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 Scholz to Abuja and Lagos, Nigeria on October 29 and 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.
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, while 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, Ambassador Yusuf Tuggar; Coordinating Minister of the Economy and Minister of Finance, Wale Edun; Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite; and Minister of Power, Chief Adebayo Adelabu.
President Tinubu will return to the country following the conclusion of the conference.
