President Bola Ahmed Tinubu will depart Abuja on Saturday for Berlin, Germany, to attend the G20 Compact with Africa (CwA) Conference, which will be hosted by German Chancellor Olaf Scholz on November 20, 2023.
The president will be accompanied by Amb. Yusuf Tuggar, Minister of Foreign Affairs; Mr. Wale Edun, Coordinating Minister of the Economy and Minister of Finance; Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment; and Chief Adebayo Adelabu, Minister of Power.
Ajuri Ngelale, the presidential spokesman, stated this in a statement on Friday.
He stated that during the conference, President Tinubu will join other Heads of State and Government of CwA member countries, bilateral partners, and Heads of International Organizations to discuss the immediate enhancement of economic and business cooperation with the goal of outlining concrete measures to boost investments in critical areas such as energy, trade, infrastructure, and new technologies, among others.
According to Ngelale, the G20 CwA Conference will take place concurrently with the Fourth G20 Investment Summit, which will be co-hosted by the German government and German industry groupings.
He went on to say that the president would keep the momentum going and push the mission forward as he led Nigeria’s team to the investment summit in light of his globally recognized drive for foreign direct investment in Nigeria.
According to a presidential spokesman, this visit also reaffirmed President Tinubu’s commitment to diplomatic reciprocity, as the German Chancellor’s invitation to Germany was honored during the German Chancellor’s visit to Abuja and Lagos, Nigeria, from October 29 to October 30, 2023.
He went on to say that the Nigerian delegation would build on previous fruitful meetings with high-ranking representatives from German business organizations who were part of the official delegation of the German Chancellor to Nigeria, capitalizing on the opportunity presented by the Fourth G20 Investment Summit.
Ngelale recalled that during his October meeting with Chancellor Scholz, President Tinubu emphasized the urgent need for more German companies to invest in the Nigerian market across multiple sectors of the Nigerian economy, including transportation, mining, and energy, all while noting that Nigeria remained Germany’s second largest trading partner in Africa.
He stated that Nigeria and Germany, Africa’s and Europe’s largest economies, respectively, increased bilateral trade volume from two to three billion Euros between 2021 and 2022.
Following the conclusion of the conference, President Tinubu will return to the country.