- President Tinubu highlights Nigeria’s educated and industrious population as a major strength, positioning the country for global investment opportunities
- Emphasis on the rule of law, youth energy, and economic reforms to attract foreign investments, as Tinubu engages with German leaders
President Bola Ahmed Tinubu emphasized Nigeria’s greatest strength as its people during a panel discussion in Berlin, Germany. Addressing international investors at the G20 Compact with Africa Economic Conference, Tinubu highlighted the country’s highly educated, skilled, and industrious population as a key advantage in the global competition for new investments.
Speaking on the importance of promoting the rule of law to attract foreign investments, Tinubu underscored the energy and education of Nigeria’s youth as a significant incentive for investors, drawing parallels to China’s economic resurgence.
While acknowledging Nigeria’s reputation as an energy sector leader with vast gas deposits, Tinubu outlined the country’s commitment to go further. Initiatives include fiscal responsibility, tax reforms, and financial institution restructuring to facilitate foreign investments.
“We have the youngest, largest, and most vibrant youth population in Africa. Equipped with a well-educated populace and a massive market, we are poised to build a modern economy under my leadership,” Tinubu stated.
Tinubu assured potential investors of Nigeria’s move beyond restrictive policies, emphasizing the flexibility for capital movement. He highlighted the stability and predictability in Nigeria’s socio-political development, creating a conducive atmosphere for business operations.
Addressing the development of labour-intensive sectors and technological progress, Tinubu outlined the country’s focus on job creation and opportunities in the information and communications technology sector.
Inviting German businesses to explore investment opportunities, Tinubu highlighted the removal of obstacles hindering businesses and ongoing transformative changes in the Nigerian economy.
German Chancellor Olaf Scholz echoed the evolving nature of economic relations and expressed Germany’s commitment to mutually beneficial partnerships. He emphasized the focus on investments benefiting both parties, particularly in renewable energy and green hydrogen production.
Other panelists included President Alassane Ouattara of Côte d’Ivoire, Prime Minister Aziz Akhannouch of Morocco, President Macky Sall of Senegal, Sabine Dall’Omo of Afrika-Verein, and the CEO of Sub-Saharan Africa, Siemens AG.
President Tinubu further engaged German business leaders at a Nigeria-Germany Business Roundtable, reinforcing the commitment to fostering economic collaboration between the two nations.