Why Nigeria was invited to G20 summit – Biden

Biden said his administration was committed to the longstanding friendship between both countries and peoples.

This was contained in a statement published on the official White House website.

Biden praised the efforts made by the Tinubu administration to bring about economic reforms in Nigeria.

The statement reads, “President Biden welcomed the Tinubu Administration’s steps to reform Nigeria’s economy and thanked President Tinubu for his strong leadership as the chair of the Economic Community of West African States to defend and preserve democracy and the rule of law in Niger and the broader region.”

On Nigeria’s invitation to the G20 summit, the statement reads, “Nigeria’s invitation to the G20 Summit is a recognition of Nigeria’s important global role as Africa’s largest democracy and economy.”

The PUNCH reports that Tinubu attended the two-day summit on the special invitation of Indian Prime Minister, Narendra Modi.

Tinubu was accompanied by the Ministers of Foreign Affairs, Yusuf Tuggar; Finance and Coordinating Minister of the Economy, Wale Edun; Communications, Innovation and Digital Economy, Dr. Bosun Tijani; Industry, Trade and Investment, Dr. Doris Uzoka-Anite.

The PUNCH also reports that Tinubu held bilateral meetings with the leaders of Germany, South Korea and India.

Tinubu conveyed to the German helmsman, Olaf Scholz, the importance of not just focusing on creating a financial framework for a broader economic alliance.

In a bid to boost economic growth, Tinubu said the government is introducing new incentives to attract large-scale manufacturers like Volkswagen to establish a presence in the country.

Responding to the economic focus of Tinubu’s proposal, the German Chancellor acknowledged the mutually beneficial nature of an escalation in the scale of economic ties with Nigeria.

He said, “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,” the German leader confided.

Meanwhile, the President will meet with the leadership of the United Arab Emirates during a technical stopover in Abu Dhabi, the Emirati capital, after his departure from New Delhi, India, The PUNCH reports.