President Bola Tinubu is scheduled to depart Abuja for Berlin, Germany, to participate in the G20 Compact with Africa (CwA) Conference hosted by German Chancellor Olaf Scholz. The conference, set for November 20, 2023, will bring together Heads of State and Government from CwA member countries to discuss and enhance economic and business cooperation.
The agenda of the conference will focus on concrete measures to boost investments in critical areas, including energy, trade, infrastructure, and new technologies. President Tinubu, known for his global efforts to attract foreign direct investment to Nigeria, aims to leverage the summit to further advance Nigeria’s economic interests.
The visit is a reciprocal response to Chancellor Scholz’s visit to Abuja and Lagos in late October. President Tinubu’s discussions with Chancellor Scholz during the German leader’s visit highlighted the importance of increased German investment in Nigeria, particularly in sectors such as transportation, mining, and energy.
Accompanying President Tinubu will be a high-level delegation, including the Minister of Foreign Affairs, Amb. Yusuf Tuggar; the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun; the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite; and the Minister of Power, Chief Adebayo Adelabu.
The Fourth G20 Investment Summit, co-hosted by the German government and German business associations, will run concurrently with the G20 CwA Conference. The Nigerian delegation plans to build on previous engagements with German business representatives and explore opportunities for increased investment in Nigeria.
With Nigeria and Germany being the largest economies in Africa and Europe, respectively, bilateral trade between the two nations has seen significant growth, reaching three billion Euros between 2021 and 2022. President Tinubu is expected to play a key role in fostering stronger economic ties during his participation in the conference.