In a compelling address at the G20 Compact with Africa Economic Conference in Berlin, President Bola Tinubu extolled Nigeria as a burgeoning hub for global investment, urging international investors to see beyond the country’s abundant natural resources and focus on its most invaluable asset—the Nigerian people.
Asserting that Nigeria’s greatest advantage over other nations lies in its educated, skilled, and industrious populace, President Tinubu highlighted the country’s eagerness to partner with investors, emphasising the boundless potential of its youthful demographic dividend.
“The energy sector, especially natural gas development and hydrogen production, is our focus today. Nigeria, renowned as an energy leader, beckons as an enticing investment destination. Yet, our reforms go further, fostering an accommodating environment for foreign investments,” stated President Tinubu.
Underscoring Nigeria’s commitment to financial reforms and fiscal responsibility, the president showcased the country’s vast potential, stressing its readiness to collaborate with global partners. “We boast the largest, most vibrant youth population in Africa, coupled with a well-educated workforce and an immense market, all geared towards driving a modern economy.”
President Tinubu dispelled lingering misconceptions, affirming Nigeria’s adherence to the rule of law and its alignment with international business standards. Highlighting the country’s thrust towards labour-intensive sectors for job creation and technological advancements, he presented Nigeria as a burgeoning hotspot in the information and communications technology space.
Addressing concerns about capital mobility, the President assured investors of Nigeria’s liberalised policies, affirming a conducive atmosphere for business operations and capital flows. “Stability, predictability, and the sanctity of contracts underpin our socio-political development, ensuring a safe and enabling business environment,” he declared confidently.
Encouraging German automakers to establish manufacturing hubs in Nigeria, President Tinubu extended a warm invitation to German enterprises to capitalise on multifaceted investment prospects, hailing the visit of German Chancellor Olaf Scholz to Nigeria in October as a milestone.
Echoing Chancellor Scholz’s sentiments, who underscored the need for mutually beneficial investments, President Tinubu reinforced Nigeria’s commitment to fostering collaboration, especially in renewable energy and hydrogen production, offering vast opportunities for German-African partnerships.
With eminent global leaders and business magnates present, including Chancellor Olaf Scholz, President Alassane Ouattara of Côte d’Ivoire, and Prime Minister Aziz Akhannouch of Morocco, President Tinubu’s clarion call to global investors resonated as a pivotal moment in unlocking Nigeria’s immense economic potential.
Set to host a Nigeria-Germany Business Roundtable, President Tinubu extends a cordial invitation to German business chiefs, forging a path towards a robust and prosperous economic alliance between Nigeria and Germany.
Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity), affirms these transformative reforms, underscoring Nigeria’s evolution into a landscape of opportunity for discerning global investors.