Tinubu attends G20 ‘Compact with Africa’ conference on energy, infrastructure, new technologies in Berlin

*President Bola Ahmed Tinubu is expected to depart Abuja Saturday, November 18 for Berlin, in Germany, to attend the G20 ‘Compact with Africa’ Conference slated for November 20, 2023, to deliberate with other leaders on ‘concrete measures to boost investments’ in critical areas, such as energy, trade, infrastructure and new technologies

Isola Moses | ConsumerConnect

President Bola Ahmed Tinubu will, on Saturday, depart Abuja, FCT, for Berlin, in Germany, to attend the G20 Compact with Africa (CwA) Conference November 20, 2023.

Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, Friday stated that the global summit would be hosted by German Chancellor Olaf Scholz.

The Presidential media aide disclosed during the conference, President Tinubu would be joining 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.

Focus on critical areas of energy, trade, infrastructure and new technologies

Ngelale said this move is with a view to outlining concrete measures to boost investments in critical areas, such as energy, trade, infrastructure, and new technologies, among others.

The statement also noted: “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 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.”

Call for more German companies, investments in Nigerian market

The Presidency stated 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 the German Chancellor to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023.

“Leveraging 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, said the Spokesman.

Ngelale as well recalled that in his discussions with Chancellor Scholz October this year, the President had 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.

Tinubu also stressed that Nigeria remains Germany’s second largest trading partner on the African continent.

According to the Federal Government, 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 Amb. Yusuf Tuggar, Honourable Minister for Foreign Affairs; Mr. Olawale Edun, Minister and Finance and Coordinating Minister of the Economy; Dr. Doris Uzoka-Anite, Minister for Industry, Trade and Investment (ITI); and Chief Adebayo Adelabu, Minister for Power.

President Tinubu will return to the West African country after the conclusion of the conference in Berlin, stated Ngelale.