In a strategic move to fortify economic ties and champion Nigeria’s interests on the global stage, President Bola Tinubu is set to embark on a journey to Berlin, Germany, to attend the G20 Compact with Africa Conference on November 20, 2023.
The conference, hosted by German Chancellor Olaf Scholz, will run concurrently with the fourth G20 Investment Summit, a pivotal gathering for world leaders and business magnates.
A statement released by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, outlined the core themes of the G20 Compact with Africa Conference, placing emphasis on critical sectors like energy, trade, infrastructure, and cutting-edge technologies. The conference will assemble Heads of State and Government from Compact with Africa (CwA) member countries, bilateral partners, and influential figures from international organizations, fostering an environment conducive to fostering economic and business cooperation.
Ngelale underscored President Tinubu’s commitment to attracting foreign direct investment to Nigeria, emphasizing that the President will lead the country’s delegation with enthusiasm at the investment summit. The visit to Germany is a demonstration of diplomatic reciprocity, reciprocating the German Chancellor’s visit to Abuja and Lagos from October 29 to October 30, 2023.
In a prelude to the conference, President Tinubu’s discussions with Chancellor Scholz in October outlined the urgency for increased German investments in Nigeria. The President specifically highlighted sectors such as transportation, mining, and energy as prime opportunities for collaboration. Nigeria, he asserted, stands proudly as Germany’s second-largest trading partner in Africa.
The bilateral relationship between Nigeria and Germany, as the largest economies in their respective continents, has seen remarkable growth. Bilateral trade volume between the nations surged from two to three billion Euros between 2021 and 2022. This upcoming visit is poised to elevate this partnership to new heights, exploring avenues for expanded collaboration across diverse sectors.
As President Tinubu prepares to engage in high-stakes discussions at the G20 Compact with Africa Conference, expectations are high for the formulation of concrete measures that will not only solidify economic ties but also chart a course for sustained and mutually beneficial growth between Nigeria and Germany.
