Connect with us


G-20: Tinubu meets German and Indian leaders, discusses aligning with German manufacturers



Tinubu and German Chancellor H.E. Olaf Scholz

Nigeria’s President Bola Tinubu met with the German Chancellor Olaf Scholz to discuss opportunities to expand ties of economic development with Nigeria, toward ensuring the effective execution of past agreements struck.

This was disclosed in a statement by Ajuri Ngelale disclosed in a statement on Sunday adding that Tinubu met with the German Chancellor, South Korean President as well as the Indian Prime Minister at the G20 summit

The report noted that this is part of the Presidency’s moves towards deeper economic bilateral ties with Nigeria.

German business opportunities

The report said the president’s meeting with German Chancellor Olaf Scholz presented a unique opportunity to expand ties of prosperity for the people of Nigeria, adding Tinubu said:

  • “It is not, for us, only a matter of designing the financial architecture for an expanded economic partnership.
  • ‘’It is also about the practicality of aligning the perspectives of your large-scale manufacturers, such as Volkswagen and others, with the reality of the new incentives my government is putting in place for them to come and prosper across multiple value chains and sectors inside of our country,”.

Scholz responded by acknowledging the mutually beneficial nature of an escalation in the scale of economic ties with Nigeria, saying:

  • “Thank you for this important discussion, Mr. President. I appreciate this opportunity to advance our economic relations. Your market is unique and our companies have a history in Nigeria.
  • ‘’We acknowledge the business-friendly reforms you have put in place. I am happy to inform you of my desire to visit you in Nigeria in October, which will allow us to carry forward these initiatives,”

South Korea business opportunities

In his meeting with Yoon Suk Yeol, the Korean leader praised Tinubu’s regional leadership in upholding democratic tenets and norms, adding:

  • “I wish to commend your strong leadership, following the peaceful transfer of power to you from your predecessor and we see a stable country in West Africa that is growing in stature,”.

President Tinubu explained his vision to the South Korean leaders citing proposals for an enhanced South Korean presence in Nigeria, adding:

“We will work point by point with you to secure rapidly implementable MoUs across sectors of partnership that will involve the active presence of your biggest firms, not just in terms of Nigerian consumption, but in local Nigerian production, from telecommunications to technology, and oil and gas,”

The South Korean President told Tinubu that Nigeria’s education, technology and energy sectors are of interest to South Korean investors and that he will mobilize his business community to take advantage of new Nigerian incentives for local industry.

Meanwhile, in his meeting with the Indian Prime Minister, Narendra Modi, who had invited Nigeria to the G-20 Summit, Tinubu said:

  • “There are many lessons our nation can learn from the rapid progress that India has made under your leadership.
  • ‘’We see fantastic opportunity between our nations across sectors, such as agricultural development, but specifically, there is more we can do to advance ICT innovation and the emergence of Blue-Chip FinTech growth in Africa.
  • ‘’Nigeria has the local players who can drive it from the front,”.

Modi both nations must now stay close in touch to detail our priority areas of upscale cooperation with respect to agriculture, defence industries capacity building, and even FinTech growth.

  • ‘’I see your commitment. We believe there are immense prospects for Nigeria in the UPI (Unified Payments Interface) and we will ensure that we come together and make progress on these fronts very rapidly,” he added.


Download Nairametrics App for breaking news and market intelligence.
    app store banner

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *